this post was submitted on 09 Aug 2023
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Ok so decentralization is an advantage. And the trancparency you say.
Those two do not need a Blockchain.
You need something to create the ledger of transactions. So far in humanity we have used humans with the authority. The problem with authority is that is corruptible, and also self-interested above all else.
A blockchain is neither.
I don't know of other alternatives besides humans or blockchain for maintaining a database of transactions. What are you suggesting instead?
The thing is, that even if the Blockchain in theory is not corruptible there were several occasions where the old Blockchain was abandoned and a new fork was the official one suddenly. Securing the rich's money.
So a Blockchain is less secure in my opinion. If the people with the most money go to another one the old one is suddenly nothing worth anymore.
Notably bitcoin did fend this off already in the case of bitcoin cash