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Author Topic: What is the feature you think most important in a Blockchain System?  (Read 151 times)
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March 05, 2019, 01:10:48 AM
Last edit: March 05, 2019, 01:36:47 AM by Snooow
 #1

Talk about the following feature you think most important in a Blockchain System:
1. Anti-ASIC
2. Anti-quantum computing
3. Anonymity
4. Cross-chain tech
5. off-chain tech
6. smart contract
7. ... (add more if you want)
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March 05, 2019, 03:22:30 AM
Merited by pooya87 (1)
 #2

Immutable blocks
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March 05, 2019, 03:22:57 AM
 #3

Unpopular opinion: Decentralization

People(especially those idiots on Reddit) are only mostly prioritizing transaction speed and fees that they're not taking decentralization and security seriously.

"XRP is decentralized!"
"NANO is decentralized!"

 Well, try shuttung down the companies running these coins. What happens then?

Technologically illiterate people in the past thought cars, computers, the internet, etc wouldn't work out. Wait til they see how wrong they are with BTCitcoin.
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March 05, 2019, 03:45:10 AM
 #4

Unpopular opinion: Decentralization

People(especially those idiots on Reddit) are only mostly prioritizing transaction speed and fees that they're not taking decentralization and security seriously.

"XRP is decentralized!"
"NANO is decentralized!"

 Well, try shuttung down the companies running these coins. What happens then?

Once we can shutdown the companies behind these platforms then we realize that it is nothing at all. Maybe there will be some groups that can rise to fill-up what is lost and that is when people realized that these are actually centralized kind of thing just like the many big institutions we have now controlling the vast financial network established all over the world. Now onder many people are calling these as fake cryptocurrencies because they have attributes that are contrary to the very principles established by the founder of Bitcoin. Anyway, I am not against then as I believe in open competition and that the more the merrier the better but we have to tell people straight of the facts.

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March 05, 2019, 03:47:40 AM
 #5

Talk about the following feature you think most important in a Blockchain System:
1. Anti-ASIC
2. Anti-quantum computing
3. Anonymity
4. Cross-chain tech
5. off-chain tech
6. smart contract
7. ... (add more if you want)

1. is not even a thing let alone be important. first of all there is nothing wrong with having ASICs and being able to use them, secondly there is no such thing as "Anti-ASIC", some coins fooled their users by this "buzzword" but in reality they are "Anti-bitcoin-specific-ASIC" in other words you can use ASIC to mine them but not bitcoin's ASICs.
2. as long as this is not a weaker algorithm, it can be good but i wouldn't put it on the top of the list. it belongs down.
3. not mandatory.
4&5. these can be added as second layer to most coins so not so much important. not to mention that things like "cross chain" are only useful for traders!
6. so far i have no seen any usage for smart contracts although the idea seems good. so i'll say not important

7+. being Decentralized, boarderless, permissionless, immutable, secure

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March 05, 2019, 07:01:28 AM
 #6

Other than points already mentioned, strong/secure cryptography is really important. You don't want someone steal your coins by only knowing your public key.

Unpopular opinion: Decentralization

People(especially those idiots on Reddit) are only mostly prioritizing transaction speed and fees that they're not taking decentralization and security seriously.

"XRP is decentralized!"
"NANO is decentralized!"

 Well, try shuttung down the companies running these coins. What happens then?

Unfortunately, "Decentralization" term become vague and each people have different criteria what can be considered as "Decentralization".
Some of them even think as long as takeover/control attempt require multiple person working together, then the system is decentralized.

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March 05, 2019, 07:11:54 AM
 #7

Anti quantum is increasingly important otherwise an unprofessional employee could abuse the supercomputer to mine or crack those coins. It has happened with regular machines at work

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March 05, 2019, 07:37:43 AM
 #8

Yes, very important element that you mentioned in the Blockchain system,
Meaning: Blockchain can bring to the most positive things, with technology transparency and efficiency, I think a lot of things can be overcome with blockchain,
in other words, blockchain like technology enters almost all sectors,
For example: When you buy coins like bitcoin, in this case the computer that is connected to the blockchain, can record and valid data automatically. Therefore, a little mistake, fast, and easy.

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March 05, 2019, 08:08:55 AM
 #9

decentralised consensus
(not to be confused with distributed compatibility)

decentralised consensus is about diverse independence of opposing views finding something they can agree on without needing a single point/leader deciding for them (research byzantine generals theory)


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March 05, 2019, 08:21:47 AM
 #10

For me, I like the "Anonymity" feature of the Blockchain System. I like being unknown using the system, doing stuffs like buying and selling coins like bitcoin, without anyone knowing your true identity.
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March 05, 2019, 08:45:20 AM
 #11

OP, I believe it's censorship-resistance, and true sovereign ownership.

Censorship-resistance. We can send and receive value to, and from anyone around the globe freely, with no one having the capability to censor us.

True sovereign ownership. We control our own private keys, with no one in the globe having the capability to take value away from us.

Bitcoin is it's own financial system.


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March 05, 2019, 08:58:32 AM
 #12

Let me be one of those greedy shitters:

Mass adoption would be the most important feature.
I don't really care how useful would be the other new features while my BTC savings worth nothing and can't be traded for anything.
The other things like immutable blocks, decentralization etc. are ofc important but they are just secondary things until we see good demand in cryptocurrencies.
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March 05, 2019, 09:14:13 AM
 #13

..for me what I like most is the "anonymity",,our identity as crypto holder should be anonymous in order to protect ourselves..nowadays,,it is very risky outside and in every places you go..if you hold a lot of Bitcoin or other potential altcoins, and your identity was revealed,,i'm pretty sure that your life would be in danger because you will always get in trouble..and scammers won't leave you..

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March 05, 2019, 09:29:44 AM
 #14

Talk about the following feature you think most important in a Blockchain System:
1. Anti-ASIC
2. Anti-quantum computing
3. Anonymity
4. Cross-chain tech
5. off-chain tech
6. smart contract
7. ... (add more if you want)

For my laic tech knowledge the most important feature is smart contract. I am absolutely sure that blockchain, crypto and Bitcoin would not reach that breakthrough it has. It would still just be somewhere in the dungeons.
And so much useful applications this feature has. It will definitely stay in our lives...

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March 05, 2019, 10:48:54 AM
 #15

Talk about the following feature you think most important in a Blockchain System:
1. Anti-ASIC
2. Anti-quantum computing
3. Anonymity
4. Cross-chain tech
5. off-chain tech
6. smart contract
7. ... (add more if you want)

Several suggestions have been made which is something that should be implemented but most of the suggestions are mostly not known to the common business man and even a lot of crypto enthusiasts who dont have the adequate IT knowledge. For me, one unique thing that should be added to the blockchain is protection. Today, the moment a transaction is being confirmed there is little or nothing that can be done about it whether the transaction was done via a scam action or a legit business transaction. This alone has made people fret and those who have had their own portion of losing their money to unscrupulous individuals with no hope of getting it back by any means.

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March 05, 2019, 11:00:03 AM
 #16

I’d say a distributed ledger since it helps in recording of each transaction. Every user then is able to validate transactions and has its own personal copy
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March 06, 2019, 12:14:13 AM
 #17

Verifiable using multiple sources, through which some political influence wouldn't and couldn't be able to alter as it will surely create a domino effect on the integrity of data stored. Though centralized blockchains wouldn't have this feature for sure, it is one of the strengths of the blockchain as we know it, and it would be a bummer if companies that will use the said tech would be removing this very important feature on their ledger. Also, one thing would be the immutable nature of stored data within blocks. Once a block is stored, it cannot be changed no matter what happens.

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March 06, 2019, 12:34:57 AM
 #18

Even though this feature could also be considered a disadvantage I think anonymity is one of the key factors why people like blockchain system. Before blockchain technology was created it was pretty much impossible to transfer money online to another person without needing to reveal your information to the bank or payment system and thats now possible because of blockchain.

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March 06, 2019, 01:34:09 AM
 #19

I think all of those features are very important on the blockchain, and because of this they are very useful in usage.

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March 06, 2019, 04:42:19 AM
 #20

Let me be one of those greedy shitters:

Mass adoption would be the most important feature.
I don't really care how useful would be the other new features while my BTC savings worth nothing and can't be traded for anything.
The other things like immutable blocks, decentralization etc. are ofc important but they are just secondary things until we see good demand in cryptocurrencies.

but mass adoption is not a "feature" of something. it is the result of having other features. for example because bitcoin is a decentralized currency it is being adopted and its price grows not the other way around.
you first have to create something useful then have people use it, otherwise you will be left with some altcoin that nobody cares about or uses and the only thing you can see is temporary pump and dumps before it dies.

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