Thread: RIP Bitcoin

Originally Posted by Farangrakthai

Obviously the potential here is limitless. Applications could be developed which allow businesses to validate transfers based on delivery of service – for example a certain number of buying orders would signal to the blockchain-based smart contract that conditions had been filled for an invoice to be paid. The payment could then be made automatically through a blockchain based payment system. App ecosystems are already evolving, based around platforms such as Ethereum which aim to give businesses the toolsets necessary to get involved.

Originally Posted by longway

a BC cant be run without its currency, the value of the currency depends on the immutability and transparency of the BC, and its utilities.

well, i'm just a novice, longway; but, i think you're confusing block chain's use in bitcoin/crypto curriences and its wider use:

https://www.cio.com/article/3194586/...nsactions.html

Cryptography secures the records in a blockchain transaction, and each transaction is tied (in the chain) to previous transactions or records. In addition, the transaction records are distributed among and viewable by all participants of a blockchain distributed ledger. An attempt to tamper with the data would require that the hacker also change all the previous records in the blockchain.


Moreover, blockchain transactions are validated by algorithms on the nodes (computers in the network of participants in the distributed ledger). A single entity cannot create a transaction. Finally, blockchains provide transparency, giving each participant the ability to monitor the transactions at any time.

Participants can opt to set up a private or public blockchain.

A private blockchain limits the number of participants that are verified and trusted.


Quite frankly, aside from someone cracking the cryptology, blockchain is one of the most secure digital capabilities available.

https://www.cio.com/article/3194586/...nsactions.html

Here are some of the most notable entities that have examined blockchain and are now moving to adopt it.