Do we need blockchain technology?

[hase0278]

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?
Please enlighten me.

Even if that is the case I see those others as still significant because they introduce a new way to use something traditional or is something that is already there, just improved. Also even if they are shitcoins, most of them somewhat gives their users decentralization so I think we still need them. Just consider those failed ICO's as failed attempt to introduce a new way of using something or an innovative tech that have not been used by many people.

[shinratensei_]

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?
Please enlighten me.

Even if that is the case I see those others as still significant because they introduce a new way to use something traditional or is something that is already there, just improved. Also even if they are shitcoins, most of them somewhat gives their users decentralization so I think we still need them. Just consider those failed ICO's as failed attempt to introduce a new way of using something or an innovative tech that have not been used by many people.

A lot of assets and shitcoin already made through generate the assets in the blockchain i meant the blockchain that already has the capability to issued the assets such as erc20 token and others.
A lot of them are not building its blockchain at all.

[CyberKuro]

Depend on what kind of coins we're talking about, bitcoin-blockchain is necessary, we need it even though you think there is no benefit in real life but bitcoin running on blockchain and we use bitcoin which mean; we use blockchain indirectly. If we're talking about shitcoins which offers something or services but not really useful, then those coins mostly used as trading object.

[layoutph]

What do you mean by blockchain? If you are referring with the system itself, then yes Blockchain is the heart of every crypto currency. It makes the crypto thing very secure , fast and prone to hack.

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

[karmamiu]

We need blockchain technology it is something new unique and beneficial. Do we need all shitcoins and useless project based on blockchain technology? Not really.
But market and life will verify everything, worthless projects will be abandoned and die out, there is no need to worry.
I am sure that people were asking the same thing about the internet - why do we need it when there are so many useless websites around?

                  Yeah! I do really agree with you, since there are also projects that are only good at the beginning and some worst case is that it is only popular for about weeks or months then suddenly the popularity would go down and in the end it would just be forgotten and be phased out. Keep in mind that most of the successful project up until now or up to date are projects that are beneficial or still being used right now, just like you have said someone or few people would really ask what's the purpose of the internet.

[ananasMarco]

My personal perspective is that the value of blockchain technology introduced by Bitcoin is more of a conceptual one. The idea that we can decentralize the process of governance and consensus, and in that process value is created, which then can be distributed. It's quite interesting, because the cryptographic nature by design introduces a form of scarcity and security. Approaches like Iota's 'tangle', and some lesser known approaches such as the Holochain that don't store the full ledger at every node, are all essentially the same in achieving some form of decentralized governance, consensus, and value.
 
I think this is the real value, and the reason why the answer is a resounding *yes* to the question of whether we need blockchain technology.
Consensus, governance, and value, are all crucial parts to various kinds of systems, the degree to which still is unexplored.
 
You might have heard the phrase 'token economy' floating around, which encapsulates this.
 
The thing is, our world is really goddamn complex, and as certain systems and services grow in number and complexity, centralization becomes increasingly problematic. Take the government for example. The government is responsible for such a wide array of things, with so ridiculously many people depending on the adequate execution of their responsibilities, and the drawbacks of centralization become clear. The smaller the governing system and the larger/complex the system to be governed, the more difficult it is to achieve adequate control - it's just a mathematical constraint.
 
We depend on services and tools to deal with our increasingly complex environment, but what about the other way around? I know it sounds a bit fight-club esque, but our relation with our environment is more often than not out of balance. You may use facebook, but facebook uses you as well. Whether the relationship is fair, I'm not sure of, but that facebook doesn't care much, I am pretty sure of.

On a more positive note, I do believe we are in a transitionary phase of deconstruction.  A deconstruction of the services we need, and the tools available to fulfill these needs in a manner that gives the users more control, by decentralizing governance, and removing a need for trust from some central institution. We're just still learning the possibilities available with this new technology, which is going to become increasingly clear and exciting when we're going to get past this money-grabbing phase as reflected by unethical ICOs and shitcoins.

[drachman]

The market will decide what is needed and what is not when it compes to blockchain apps. Right now lots of altcoins in their ICO's have some big value given as a credit to them, but very few present any real working results, and many of them are far away from 100% realization. Take even ETH for example - do you know any working smart contract apps? The first time they have tried to build something with it, the DAO fiasco happened. But what it is even worse is those private blockchains - they have almost nothing in common with Bitcoin and just trying to steal it's brand.

We are still in the early stages of crypto, many of those coins have value because they have a chance of becoming something in the future but if they fail then its value is going to be zero but if successful those coins could have market caps of billions of dollars.

[Skyborn]

You really need to watch this video https://youtu.be/sDNN0uH2Z3o. This will broaden your view beyond bitcoi  alone. Definitely worth a watch.

[Isaac 666]

yes we need blockchain technology , it is main to start or own coins system

i agree with you there are many unused coins  but it is open source and people can do what they want so that this is not reason that make use hate  this technology

[swscowods]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

I think the network that is still using the blockchain technology to develop itself and serve its users
effectively, I was on steem the other time and I was just confused at the way the whole place was, it doesn’t seem organized though looks legit.

[fiomcorka]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

Lots of companies are now using the blockchain technology in new and different ways, the technology was first started by bitcoin(or probably first used) now sites like steemit allow users to post articles and get paid when they are upvoted using blockchain technology.

[ekoice]

Yes,we all need blockchain technology.It ensures security of information used,lessens paper work more,eases the tasks and saves more time.Bitcoin has been secure mainly for the reason that it works on a secured blockchain technology.Its true that more shit coins nowadays use this technology.But they would soon disappear if they failed to deliver any thing unique and useful.Governments have realized the importance of blockchain technology and that's why,they have started to use it in medical fields and various other sectors to make the work ease and safe.The truth is that all the bankers and some governments may not accept bitcoin,but they could not avoid blockchain technology.

[drachman]

Depend on what kind of coins we're talking about, bitcoin-blockchain is necessary, we need it even though you think there is no benefit in real life but bitcoin running on blockchain and we use bitcoin which mean; we use blockchain indirectly. If we're talking about shitcoins which offers something or services but not really useful, then those coins mostly used as trading object.

Correct many of those coins that offer a particular service are not offering anything new since we could use the bitcoin blockchain instead of using a coin that no one cares about it, but even then there are some projects that have merits and that we may need to use in the future.

[Hydrogen]

Here's another facet to the blockchain debate.

Many believe centralized or monolithic software algorithms are preferable to distributed algorithms. One of the issues with this is many aren't aware of distributed software engineering they encounter in their daily lives. Blockchain is the only example of distributed software many are aware of.

Don't forget there is software like bittorrent which is built using a distributed networking algorithm with many peer nodes, not completely dissimilar from a blockchain. Some might argue that a direct peer to peer file sharing system is superior to bittorrent. But possibly we might see there are advantages to distributed software like torrentz.

[player514]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

With blockchain technology you get an opportunity to have multiple people active on something at the same time. Think of Google docs vs Microsoft word. With Microsoft word you need to write edit and email your copy to whoever you want to collaborate with. This cycle continues with the other person. However, with something like Google docs and blockchain technology, numerous people can edit at the same time. All you have to do is share it with the person. This is the power of blockchain tech.

[hatshepsut93]

If you'll read Satoshi's whitepaper - the origin of blockchain technology, you'll understand that it was created with a purpose of timestamping transactions to prevent their double spending. A lot of real world applications don't require timestamping, so they don't require blocks and miners. So when you look at some private blockchain project, you will quickly understand that it's very different from Bitcoin, it lacks all it's defining features and just don't bring anything new. In its core, private blockchain projects are just application of digital signatures via public key cryptography and databases distributed between some participants of the network. So, private blockchains can't really compete with Bitcoin.

[Sir Paijoe]

Traditional transactions are so many problems that solutions must be found to solve the problem, I think blockchain technology is very good and can be a solution for future transactions.

[freebutcaged]

With blockchain mate you could make sure of decentralization and open source of a software, otherwise there is no difference between the data on a

Ledger which is private and the data on databases all over the world. all of these tokens on a shitty exchange no one use is the evidence of the

Blockchain functioning properly and as it should, you just need to ignore them all, when you see and are tempted to try them out you will be disappointed, whenever you see a token and if you see there is some good use for it in real life then better to keep ignoring them.

[Kp4everK]

The technology of blockchain is very useful and useful thing in our time, which is used in many processes of our life. After all, we can not disagree that the storage of information has become more secure, thanks to this technology fraud and deception are prevented.

[fredo123]

Blockchain is very essential in digital world nowadays, It is very useful for future transactions, through it we can save much effort, less paper work, Allows you to explore and learn different variations of races,traditions and culture by sharing colorful experience from the past. This will broaden our view in any field of matters,