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Author Topic: Bitcoin blockchain V. private blockchain - and the winner is...  (Read 235 times)
DGulari
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February 25, 2017, 05:30:26 PM
 #1

Looks like R3 is biting the dust big time.  Private blockchains don't work.  $59 million spend and they finally get it. 
https://cointelegraph.com/news/we-dont-need-blockchain-r3-consortium-after-59-million-research

However, extended functions on the blockchain, the Bitcoin blockchain, have infinite potential.  So-called 'layer 2' projects remain a clear path to some very exciting function. 

The Omni Project remains an important extension of Bitcoin.  This has quietly been being built over years without pump and hype.  These systems will crush stupid efforts like R3 because they are coupled with the real blockchain.  They make Bitcoin better and more powerful.

Presently well over $100M in assets (e.g. MaidSafe, Tether, et cetera) are running on this platform.  It remains the first, and still largest layer 2 platform. 

Go to Poloninex and get a few Omni now.  5 years from now, you'll be laughing your head off.

CounterParty is similar.  They build on and extend the real blockchain.  Unlike R3 who failed to understand why private blockchains are little more than very inefficient databases. 




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February 25, 2017, 05:49:54 PM
 #2

first of all

months ago many banks that made up the R3 consortium decided they didnt need r3 as a middleman and instead the banks decided to concentrate on being directly connected to HYPERLEDGER.

what remains of r3 are deciding they can run as a second layer service.. which again is part of the hyper ledger.

what they are saying is they are not going to have their own private blockchain.
but that does not mean they are going to be part of bitcoin.

they are going to be part of HYPERLEDGER directly or indirectly.

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