this post was submitted on 27 Jul 2023
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blockchain is not useless but most of the "currencies" around it is.
It’s pretty useless. It’s proven too slow and inefficient for 99% of the promising use cases and despite having been out for like 15 years, no one has done anything particularly important (and also legal) with it. I’m not sure a typical person would miss anything if the whole ecosystem disappeared tomorrow.
im curious about the slow and innefficient part. Its a ledger and I was under the impression it was perfect for following a supply chain to keep track of shipments. I have sorta been surprised it has not been used for this
Why would you use blockchain to track shipments when you can easily do the same with a standard database? What would be the gain?
with blockchain the information is on the token. You should not need a database.
Blockchain itself is not slow. No idea of slow or fast can exist without an implementation, and the implementation they probably have in mind is Bitcoin which is slow as shit.
bitcoin is not the only implementation. Gridcoin does not have the same bloat.