How is blockchain any different than a database?
How is blockchain any different than a database?
Easton Ortiz
Ryan Allen
it's encrypted and protected by miners
Nicholas Baker
DYOR and then come back and ask actual questions.
Levi Ward
Do some research before you come with such questions
Blake Diaz
databases arent a meme you can make funnymoney off
Luis Nelson
I see somebody watched the corbett report
Lincoln Morris
you have to trust someone to maintain the database and they basically have unlimited power with it. you can't really fork the database and do shit your own way if you don't like what the db admin is doing
Ethan Torres
It's a lot slower and shittier
Colton Collins
blockchain is a type of database
Adrian Fisher
>lifewire.com
that doesn't explain how it's different than a database.
what does it mean for a miner to "Verify" a transaction? what does that really mean for a database? all database transactions are verified, that's how our internet works, how internet commerce has always worked. databases verify transactions every day.
Cameron Watson
it seems to be a lot more expensive and cumbersome than any database that ever existed before it.
Josiah Watson
isnt that a severe problem in crypto? ethereum forked their database when they didn't like how a transaction turned out. that's why we have ethereum classic.
Luis Barnes
A database is a bunch of data held in one place.
A block chain is data held in chunks, connected by sha256 which holds the signature of the data as well as the last block of data, and the miners have to find the correct solution to each previous hash to be able to submit the new data to it.
Camden James
which wud you do
>ALTER TABLE btc_wallets
>SET amount = 99999
>WHERE address = your_btc_address
or
>DROP TABLE cryptoecurrencys
Sebastian Peterson
It is a decentralized database. No one can manipulate data put up on there and no one can shut the thing down.
Austin Bennett
>DROP TABLE cryptoecurrencys
Adam Gonzalez
No, the fact that people can fork for any reason is a key necessity for decentralization. What matters is whether the community supports the fork or not. People voted with their wallets and the majority chose ETH over ETC.
Dylan Davis
Bro, at least the basis.
Adam Ward
No Commits
We're safe
Justin Hernandez
Same way a webpage is different to a newspaper.
It's open, it's decentralised, and it's trustless.
Grayson Gutierrez
Immutable, transparent to name the basic
Nathaniel Rogers
It’s trustless, huh?
So that means if you send 1 ETH to one of those scam ICOs, hoping you’ll get a token back, you don’t have to trust they’ll send it? Is that how these transactions work.
Thomas Harris
It’s just a database that is on a whole lot of computers and they all update together. That’s all.
Carson Gomez
A database can be both of those things too
Jayden Hernandez
Fuck, he figured it out. Pack it in boys, its all over!
Brandon Moore
Not necessarily true... there is human manipulation...
Elijah Green
So, why not just trade in stocks instead of cryptocurrency? I don't understand.
Carson Rodriguez
>you don't have to trust they'll send it
If they're using a proper smart contract, then yes.
Luis Roberts
...
Bentley Wood
Got any sauce on that image.
Hudson Young
To tamper with a database, you need a keyboard
To tamper with the blockchain, you need to control every single miner in the world.
To freeze a database, you need a couple of email adresses
To freeze the blockchain, you need 51% of the total hashing power
Sebastian Sullivan
but not by algorithmic consensus.
Asher Lopez
if you take blockchain/smart contracts to the extreme like AGI is trying to do, the uncontrollable/independent/emergent economy aspect is basically how a mind works. essentially we've created skynet and it's coming real soon.
Caleb Sanders
How are you any different than a faggot?
Mason Miller
It is a decentralised database system where everyone participating has a copy of the ledger, and must come to a consensus on all the transactions data.
Nodes in the network are incentivised to participate in the network and verify transactions with the mining rewards and transaction fees.
Bentley Torres
that will answer your question
tl;dr:
Immutability
Security
Redundancy
Overhead/cost reduction
Accountability/transparency
Lucas Barnes
100% second one
Hunter Lee
Moar of her
Lincoln Hall
>>>r/bitcoincash
Grayson Mitchell
>No, the fact that people can fork for any reason is a key necessity for decentralization
so crypto is under mob rule?
Logan Nelson
Here ya go OP. Now stop embarrassing yourself in an anonymous forum.