this post was submitted on 09 Aug 2023
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Dank Memes

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A good reminder that NFTs are shit (sh.itjust.works)
submitted 1 year ago by CookieJarObserver@sh.itjust.works to c/dankmemes@lemmy.world
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[–] vrighter@discuss.tchncs.de 2 points 1 year ago (1 children)

I don't care about what happens after the data is written in the blockchain. I care that accurate data goes in in the first place. that part blockchain cannot solve. And if inaccurate data does make it in, I want it corrected. So I'd have to trust someone to make those changes.

besides, what do I do if it gets stolen? prove I own it? I can already do that.

and if you do want that immutability, that's what digital signatures are for. We both sign the same copy of a document with our private keys. Then we both keep a copy of the signed document. There is no need for anyone to have a copy of it, nor do we need anyone else's computing power for us to be able to show it has not been tampered with, since we don't have each other's private key. The blockchain is not needed.

[–] dx1@lemmy.world 0 points 1 year ago* (last edited 1 year ago) (1 children)

I don’t care about what happens after the data is written in the blockchain. I care that accurate data goes in in the first place. that part blockchain cannot solve. And if inaccurate data does make it in, I want it corrected. So I’d have to trust someone to make those changes.

That's unsolvable in general besides through consensus algorithms (which blockchain can facilitate). I'm not really sure what the example here is in the analogy we've been using - an auto manufacturer sells a car to someone that's a different model than they wanted? They could refuse purchase.

Blockchain adds authenticity through proof of when it occurred, which is not available through signature chains.

[–] vrighter@discuss.tchncs.de 1 points 1 year ago (1 children)

are you really suggesting that blockchain invented timestamping????

[–] dx1@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

No. Blockchain provides timestamps via the block height,, which means the signer(s) can't forge them.