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Author Topic: Is blockchain real or hype?  (Read 2183 times)
aditya6997
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December 15, 2016, 06:55:33 AM
 #1

These days there are too many talks about blockchain. So, is blockchain real or hype?

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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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December 15, 2016, 07:00:03 AM
 #2

You're question doesn't make any sense. If you're using bitcoin you should know that it's already using the bitcoin blockchain.

                                                                       
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December 15, 2016, 07:01:55 AM
 #3

its real

but blockchain. is just a stepping stone.
blockchain is just an extra layer ontop of relational databases.

what should be hyped is the end product once they add several programmable features ONTOP of blockchain.

EG bitcoin is atleast 10 layers ontop of 'blockchain'
hyperledger is about 4-6 layers ontop of 'blockchain'

the way i see it. although people think of blockchain as equivalent of the invention of the [financial] wheel.. i personally get excited when that wheel is then used as part of a motorcycle. and see just the wheel as something that is immovable and useless without any musclepower/mechanics behind it.

if your into programming.
its like getting excited back in the day you have been programming in basic. and then see visual basic is released. yea it adds an extra layer of possibility. but until you have programmed something on it. and made a kick ass program.. visual basic just ends up being a tool, and nothing more

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December 15, 2016, 07:39:08 AM
 #4

There is no question about it, Bitcoin Blockchain is real, something that directly or indirectly engage more than 300,000 people. They hype comes from the marketing side and this is necessary to have wide adoption

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December 15, 2016, 07:58:18 AM
 #5

Blockchain is massive hype at the moment. A blockchain is just a simple sequential file with a couple of fields to maintain the sequence. I don't believe that it's even relational, the inter-record relationships are established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific, and not a basic component of a blockchain.

I suggest we stop calling it the blockchain, and call it a blocktrain. It's a whole load of carriages pulled by an engine ( the Bitcoin Core).

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December 15, 2016, 08:14:29 AM
 #6

These days there are too many talks about blockchain. So, is blockchain real or hype?

Lately, there is a considerable debate about the blockchain technology not only by the bitcoin community  but also by banks as well as finance ministers states. The latter announce plans or experimental technology implementations using their centralized private blockchains which has no similarity with the decentralized one bitcoin uses. I think this is the matter the OP referred to saying if blockchain is real or hype.
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December 15, 2016, 08:31:15 AM
 #7

Blockchain is massive hype at the moment. A blockchain is just a simple sequential file with a couple of fields to maintain the sequence. I don't believe that it's even relational, the inter-record relationships are established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific, and not a basic component of a blockchain.

I suggest we stop calling it the blockchain, and call it a blocktrain. It's a whole load of carriages pulled by an engine ( the Bitcoin Core).

bitcoin vs blockchain are different things.

bitcoin uses relational data within blocks. to link inputs and outputs.
as you say
"established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific"

HOW bitcoin uses relational data is more important then saying relational data is possible

but here is the thing.

if you forget bitcoin. and just think about databases
how the relational part is utilised is not defined. it does not need to be about inputs or outputs. it could be social security numbers linking medical records to bank records.

just because RDBMS has relational ability and BRDBMS (blockchain) has the same with a little extra programmability..
does not define how/what/why it is used.

it is just an empty tool. like Microsoft Access version 20xx.. its real.. but not important
until you build it the data and add features and create things.. then the final end product becomes important

i personally dont care when i see people talk about 'blockchain' as thats like a housebuilder talking about a single brick. i prefer to look for the architecture, what they propose as a final design once they have added lots of different materials and bricks together.

so far hyperledger is the concern for bitcoin.. not 'blockchain'

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December 15, 2016, 08:38:57 AM
 #8

These days there are too many talks about blockchain. So, is blockchain real or hype?

Of course Op it's real, blockchain Bitcoin is use widely by all and I really even fail to understand what kind of question is this. Are you asking about the technology or you are asking for transactions both are real and very active. I am sensing a troll. altert here until you either edit your post or give a reply as to what do you wish us to answer you? Be specific you have kept it really vague.

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December 15, 2016, 08:43:33 AM
 #9

Well the Blockchain technology helped solve a computer science problem called "The Byzantine Generals' Problem" so I would say the hype is real.

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December 15, 2016, 08:53:28 AM
 #10

Well the Blockchain technology helped solve a computer science problem called "The Byzantine Generals' Problem" so I would say the hype is real.
Well first, that has nothiung to do with blockchain concepts, but it is a Bitcoin problem.

I'm not sure it has solved that problem. If you believe that block generation times are too long, but they cannot be reduced because of disruption to the blockchain recording process, and you believe that long transaction confirmation times will lead to a drift away from Bitcoin, then it would appear that the BGP is still present as a problem.

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December 15, 2016, 09:16:04 AM
 #11

These days there are too many talks about blockchain. So, is blockchain real or hype?
What makes you think blockchain is hype? There is nothing that will make doubt about blockchain being just a hype rather than real thing with real value. Look at marketcap bitcoin have, which is more than 12 billion USD right now which shows the real demand for bitcoin and also you can check big merchants have already started accepting it as way of payment.

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December 15, 2016, 09:36:14 AM
 #12

These days there are too many talks about blockchain. So, is blockchain real or hype?
What makes you think blockchain is hype? There is nothing that will make doubt about blockchain being just a hype rather than real thing with real value. Look at marketcap bitcoin have, which is more than 12 billion USD right now which shows the real demand for bitcoin and also you can check big merchants have already started accepting it as way of payment.

The OP was asking about blockchain and not about Bitcoin.

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December 15, 2016, 01:38:49 PM
 #13

Blockchain is massive hype at the moment. A blockchain is just a simple sequential file with a couple of fields to maintain the sequence. I don't believe that it's even relational, the inter-record relationships are established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific, and not a basic component of a blockchain.
And in your opinion, it seems like a massive delusional.
has built from a lot of pieces. and not a large entity.
so far hyperledger is the concern for bitcoin.. not 'blockchain'
What a concern?
"Hyper ledger isn't about bitcoin"  Huh

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December 15, 2016, 02:17:54 PM
 #14

I would say, Bitcoin is real and Blockchain based technologies are just a craze now. The FinTech scene got wind of Bitcoin, but they do not want to

use it. < Due to false/negative  media reporting > So the unemployed so-called Bitcoin experts hyped up the Blockchain technology < Insert

Hearn/Gavin here > to land them a nice job in the Fintech industry.  Roll Eyes Tongue ..... They could have saved themselves a lot of money, and just use BTC

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December 15, 2016, 02:29:55 PM
 #15

These days there are too many talks about blockchain. So, is blockchain real or hype?

As several users quoted without Blockchain we could never been into the successful and revolutionary creation of bitcoin. Following this technology different digital currencies have got existed. Also in most of the firms Blockchain technology is under trial for future implementation.


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December 15, 2016, 02:43:42 PM
 #16

I don't know why you post a topic like this, it's makes you look like a newbie here.
Oh sorry, you are a newbie!!
Let's make an answer to your question.
If you believe in bitcoin or any other crypto currencies (specific: if you think bitcoin is real), blockchain is real too.
Blockchain is a technology behind bitcoin.
Keep learn, read more.

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December 15, 2016, 02:46:38 PM
 #17

These days there are too many talks about blockchain. So, is blockchain real or hype?

As several users quoted without Blockchain we could never been into the successful and revolutionary creation of bitcoin. Following this technology different digital currencies have got existed. Also in most of the firms Blockchain technology is under trial for future implementation.

Well that is true - without blockchain there would be no Interet, because a web page is transmitted as a sequenced packet stream ie. a blockchain.

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December 15, 2016, 03:20:34 PM
 #18

Blockchain is a technology and have big potential of usage in many sectors, so it's obvious that blockchain is real.
The proof are bitcoin, many altcoin with good potential and many business/services starting to use blockchain.

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December 15, 2016, 06:25:25 PM
 #19

what a bullshit question. obviously there is blockchain ,just remember one thing without blockchain there is no bitcoins .there is the history of all the transactions of bitcoins ,well it is real/.

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December 15, 2016, 07:36:00 PM
 #20

It's real, if it wasn't do you think so many persons would start using bitcoin and pumping it's price to the price we see today?
Bitcoin blockchain technology already exist since some years, if it was only hype, bitcoin would be already dead. Bitcoin is really useful, otherwise we wouldn't see all these persons investing their time and money in bitcoins.

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