mastermined
Well-known member
Immutable and decentralized: worth it?
First, what does a distributed ledger do for transactions that current systems do not? It’s both decentralized and provides a permanent, immutable record of transactions. The immutable ledger means a whole lot of storage, and decentralized means there is no professional service tasked with maintaining this network. The combination of both factors makes this difficult. If we don’t care about decentralization, we can have a highly centralized service or few store the increasingly titanic blockchain of a Visa-level popular digital currency. If we don’t care about immutability, we can carry on as per usual, but regularly delete older transaction history. If we care about both, however, we have some challenges ahead, so we have to decide if it’s worth it. I personally think it is, because the magic combination of both factors is the entire reason I believe cryptocurrency is valuable to begin with.
https://www.dashforcenews.com/scaling-ticking-time-bomb-blockchain-currencies-must-face/