Is blockchain real or hype?

[Jet Cash]

I can see that people are not prepared to think about Bitcoin and blockchain. So I guess that "The Blockchain" is going to stay in common parlance. I assume it will be similar to "motor vehicle" this describes a massive range of transport devices. I guess the blockchain is similar to an interconnected string of flat platforms. They only become useful when a load of extras are added to them. For example, they need to have wheels, skids, hulls or tracks added for them to become mobile, and then they ned an engine to pull or push them. Adding carriages or boxes on top of the platforms means that they can become a safer means of transport. Blockchains are just the platforms and the rope tying them together. The application "software" turns the not very useful load of scrap into an advanced transport medium.

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[abonarea]

Blockchain is real thing that's why real tech companies like IBM has announced to go fully in blockchain. Some of the biggest financial institutions already have invested in blockchain tech. All these talks and investments indicate one thing that there isn't just hype and some real thing is existing in blockchain to take it to its best in future.

[Jet Cash]

Blockchain is real thing that's why real tech companies like IBM has announced to go fully in blockchain. Some of the biggest financial institutions already have invested in blockchain tech. All these talks and investments indicate one thing that there isn't just hype and some real thing is existing in blockchain to take it to its best in future.

They aren't investing in blockchain technology. They are investing in propietary software, or modifying open source software, and hyping it up using a word that describes a very simple computing concept that has been around since the 1960s.

[BiTZeD]

Blockchain is something real, as you probably already saw, but that's true that there is some kind of hype about putting everything on the blockchain.

[Jemzx00]

There will be always blockchain included when there is somekind of problem on bitcoin since blockchain is where bitcoin network relies. And most known problem would transaction delays from which is due to web traffic on blockchain.

[Techie5879]

If you are a bitcoiner, you must know that. Of course its real. Why do you think, that so many people are using bitcoin. Its real of course. Thats the reason people are starting to adopt bitcoin/blockchain technology, they have understood its potential to some extent and can see that it has a future.

[MFahad]

blockchain is real and i've been on it for 3 years from now and i still.. but somewhy transactions are slow these days

Yes, bitcoin is 100% real, just having trouble now because there are lots of transaction around that made it slow. I guess OP is looking for good site better than  block chain, because blockchain is well known compared to others.

[U2]

What the hell kind of stupid question is this? Is an online ledger real? Um ya. It's real. What the hell? This isn't Jesus or the toothfairy, you can't just not believe in it hahahahahaha.

[strasboug]

Of course it is real. With its unique features such as tamper proof, de-centralized and transparent, it finds it way into the financial and retailer sectors in big time. In a few years many payment systems will be based on blockchain.

[Ashong Salonga]

Of course it is real. With its unique features such as tamper proof, de-centralized and transparent, it finds it way into the financial and retailer sectors in big time. In a few years many payment systems will be based on blockchain.

Yes, every bitcoin transaction was processed by blockchain.
It is the main bitcoin wallet.
I found blockchain as safest bitcoin because of its security. The best features in this wallet is the SMF code needed everytime you will log in on their web to lessen the risk of being hacked.
Although it has a fee, it is not so expensive so I think blockchain is the best of all.

[Wind_FURY]

Blockchains efficient? They are not compared to the databases banks are using now. Blockchains are slow, use too much storage and bandwidth. Also a real blockchain uses Proof of Work which is considered wasteful in the use energy by most people who do not get that it is actually a breakthrough.

We will soon see all these private "blockchain" pitches by different developers to pivot into something else and drop the word "blockchain".

your thinking of bitcoins blockchain. trying to fit bitcoins concept into the banking industry..

wipe your mind of bitcoin and concentrate on underlying blockchain, again without thinking about all the unique bits that separates bitcoin from the other altcoins.

like going back to the design board and opening your mind to design your very own altcoin.

it doesnt need to be all data on every node(bitcoin) or all data on one server(banking).. it can be inbetween aswell

EG a texas sidechain where all the banks in texas reinforced each other. california have a different sidechain where all the banks in california reinforced each other

imagine each block is not hashed by PoW with a 10 minute target. but instead signed by xx regional hubs/bank branches in a split second.

imagine it like live data is instantly signed off as soon as its altered. and this continues on for a month. then at the end of the month. its locked for good, as historirc record. and then a new block copy is opened up to then change live. like a monthly statement of locked historic blocks and a live block ontop that is the 'current balance block'
making the live active block (much like mempool/LN) editable until its locked. but trusted available balance due to instant multisig signing

imaging instead of one central server hosting every bank account data, there was instead a bank branch that had its own account holders (sidechain) where they all inter-communicate between sidechains, like the same way routing numbers /sort codes recognise which HQ server to address for particular banking customers. but this time the data is distributed into hubs/regions/clusters/sidechains.

once you wipe your mind of bitcoin and see how loose the term blockchain is. you realise blockchain alone is just an empty tool. but is a tool that can do some very funky and unthought about things

Then herein lies the real problem. Ask the banks what their definition of "blockchain" is and you realize and question if that is really a "blockchain" because the Satoshi definition is mostly the one for most of us. Before Bitcoin, did anyone really use the term "blockchain"?

If their definition of a blockchain, is a chain of blocks linked together then would that be enough to be called a "blockchain"? I think the breakthrough which is Proof of Word should always be there and should be inserted in that definition.

[kanazawa]

If I understand it well, that's the most ridiculous thing I ever read in this forum, no, maybe it's the second or the third one... a real or hype? What do mean with hype? There are lotta money and lotta serious people involved on it. It's not a game, not a bubble, not a scam, not a HYPE, it's extremely serious business... have you read some threads before post this one? I might no, because this forum (even with the mountain of suckers) have some REAL commited people working in and with the Blockchain. Respect the system, it will be in your future and you'll remember the dumb time when you wrote this thread... so bro, I'm really offended with people who have newbie profile and touches a so serious content just to bump threads or count post/activity...

[franky1]

Then herein lies the real problem. Ask the banks what their definition of "blockchain" is and you realize and question if that is really a "blockchain" because the Satoshi definition is mostly the one for most of us. Before Bitcoin, did anyone really use the term "blockchain"?

If their definition of a blockchain, is a chain of blocks linked together then would that be enough to be called a "blockchain"? I think the breakthrough which is Proof of Word should always be there and should be inserted in that definition.

no
satoshi was talking about blockchain in the full context of bitcoin. because the topic he was talking about was bitcoin. he never really thought much about altcoins back in the first days, so was not talking about blockchain as just a separate topic

bitcoin is a patchwork quilt of many many things brought together. which makes bitcoin special. but blockchain and bitcoin are not on the same level. blockchain is a base level template. that needs building on

sha256 was a breakthrough in 2001
cryptographic signatures (ecdsa) was a breakthrough in 1999
proof of work was a breakthrough in 1997...
ripemd was a breakthrough in 1995

i could go on.

if you want to start saying blockchain has certain things as a prerequisite.. then you start getting into deeper questions like

if PoW is a prerequisite. then PoS coins are not blockchains?
or
if PoW is a prerequisite. then you cant leave PoW details blank otherwise its an empty gesture/useless to have included PoW as a prerequisite
if PoW is a prerequisite. then what PoW .. MD5 hashed, sha1, sha2, sha3.
if PoW is a prerequisite. then once you answer the detail of the hash required you then have to answer what length nonce is needed.
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length required you then have to answer difficulty mechanism is needed
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length& difficulty required you then have to answer difficulty retarget period.

yep. by saying PoW is needed you then start tumbling down a hill of creating an altcoin by having to get specific purely to even say PoW is needed because PoW needs prerequisites

however blockchain is a blank template. where it can go in any direction.. PoW, PoS PoA, etc. the data within the blocks can be anything. the timing of the blocks can be anything. distribution variation, diversity. etc etc etc

[Fraxinus]

Of course it is real. With its unique features such as tamper proof, de-centralized and transparent, it finds it way into the financial and retailer sectors in big time. In a few years many payment systems will be based on blockchain.

I agree,it's real as can be.Blockchain is the structure of BTC and it's vital for BTC because without it the whole validating process wouldn't be possible.So BTC relies on it and it is one of the most important things when it comes to BTC,the mining and the sending and receiving money need to be controlled and that's super important because BTC is defined by them and it will continue to be.

[Jet Cash]

Oh! come on guys - it's obvious that blockchain is marketing hype. It's a load of bankers and others trying to push their products by trying to associate it with Bitcoin. It's a great sadness that they are obviously managing to use the blockchain to give some credibility to their lesser products. We should be trying to educate the public rather than helping them to diminish the concept of Bitcoin.

If you don't know the difference between the blockchain and Bitcoin, then you should read some of the information post on this forum.

[thejaytiesto]

Blockchain without bitcoin was always a hype, and will only remain a hype, the only exciting stuff being developed is happening in the bitcoin ecosystem, outside of the bitcoin blockchain, you can find exciting sidechain projects, and maybe some altcoins, but no one that isnt a total idiot would get excited about the so called amazing advancements of the banking industry via blockchain technology.

[nara1892]

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

of course it is. blockchain is a database you cannot see.

is a distributed database that maintains a continuously-growing list of ordered records called blocks . Each block contains a timestamp and a link to a previous block.

probably you are confused to keep it on your mind or you are asking another stuff, but you are confused on using appropriate word?

anyway the words "real" and "hype" are cannot be compared. they are totally different.

[carlisle1]

blockchain is holding so many bitcoin transactions so we can say that blockchain is real and it is a public ledger of all bitcoin transactions and it is the only one that helps us process whether we are sending or we are about to receive and it also helps bitcoin to innovate so without we can not be able to use bitcoin .

[virasog]

Of course it is real. With its unique features such as tamper proof, de-centralized and transparent, it finds it way into the financial and retailer sectors in big time. In a few years many payment systems will be based on blockchain.

I agree,it's real as can be.Blockchain is the structure of BTC and it's vital for BTC because without it the whole validating process wouldn't be possible.So BTC relies on it and it is one of the most important things when it comes to BTC,the mining and the sending and receiving money need to be controlled and that's super important because BTC is defined by them and it will continue to be.

Bitcoin showed the world what block chain can do. Moving forward we can see new applications of blockchain and it will make life lot easier and bring in more innovations. I think their hype is justified and we can see a bright future for blockchain.

[Wind_FURY]

Then herein lies the real problem. Ask the banks what their definition of "blockchain" is and you realize and question if that is really a "blockchain" because the Satoshi definition is mostly the one for most of us. Before Bitcoin, did anyone really use the term "blockchain"?

If their definition of a blockchain, is a chain of blocks linked together then would that be enough to be called a "blockchain"? I think the breakthrough which is Proof of Word should always be there and should be inserted in that definition.

no
satoshi was talking about blockchain in the full context of bitcoin. because the topic he was talking about was bitcoin. he never really thought much about altcoins back in the first days, so was not talking about blockchain as just a separate topic

bitcoin is a patchwork quilt of many many things brought together. which makes bitcoin special. but blockchain and bitcoin are not on the same level. blockchain is a base level template. that needs building on

sha256 was a breakthrough in 2001
cryptographic signatures (ecdsa) was a breakthrough in 1999
proof of work was a breakthrough in 1997...
ripemd was a breakthrough in 1995

i could go on.

if you want to start saying blockchain has certain things as a prerequisite.. then you start getting into deeper questions like

if PoW is a prerequisite. then PoS coins are not blockchains?
or
if PoW is a prerequisite. then you cant leave PoW details blank otherwise its an empty gesture/useless to have included PoW as a prerequisite
if PoW is a prerequisite. then what PoW .. MD5 hashed, sha1, sha2, sha3.
if PoW is a prerequisite. then once you answer the detail of the hash required you then have to answer what length nonce is needed.
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length required you then have to answer difficulty mechanism is needed
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length& difficulty required you then have to answer difficulty retarget period.

yep. by saying PoW is needed you then start tumbling down a hill of creating an altcoin by having to get specific purely to even say PoW is needed because PoW needs prerequisites

however blockchain is a blank template. where it can go in any direction.. PoW, PoS PoA, etc. the data within the blocks can be anything. the timing of the blocks can be anything. distribution variation, diversity. etc etc etc

Ok I get your point. But I still do not get how a "blockchain" is more efficient and faster than the legacy systems they have right now like SWIFT. If you or someone can explain to me if there is a need for and how a "blockchain" or let us just call it distributed databases can make their systems more efficient and faster, I would be happy to listen. My whole point with my argument is banks do not need a "blockchain". It is only a buzzword used because Bitcoin is getting more popular.