BMWSportTouring BMWST DB
Previous Thread
Next Thread
Print Thread
Page 2 of 2 1 2
#1011584 - 05/19/18 05:28 AM Re: What is Blockchain? [Re: MT Wallet]  
Joined: Mar 2011
Posts: 1,116
MT Wallet Offline
Member
MT Wallet  Offline
Member

Joined: Mar 2011
Posts: 1,116
North 'Freezin', Dakota
I think that was/is the differentiation I was trying to get my arms around. As I started out saying it was being portrayed as an inventory system by some commentators and then an encryption method which interested Facebook. Explaining it in the context as an encrypted system that can do just about anything makes sense. It's like a spread sheet in the instance of cryptocurrency transactions.Yes?


Richard

If you always do what you always did, you'll always get what you always got.-unattributed.
#1011627 - 05/20/18 07:36 PM Re: What is Blockchain? [Re: MT Wallet]  
Joined: Aug 2016
Posts: 81
poodad Offline
Member
poodad  Offline
Member

Joined: Aug 2016
Posts: 81
Wandering and wondering
Originally Posted by MT Wallet
I think that was/is the differentiation I was trying to get my arms around. As I started out saying it was being portrayed as an inventory system by some commentators and then an encryption method which interested Facebook. Explaining it in the context as an encrypted system that can do just about anything makes sense. It's like a spread sheet in the instance of cryptocurrency transactions.Yes?


That's actually a pretty good analogy. Blockchain is a spreadsheet where anyone and everyone can look at it or append rows (no central control), and where everyone can independently verify the validity of every row.

#1011726 - 05/22/18 02:24 PM Re: What is Blockchain? [Re: MT Wallet]  
Joined: Jun 2008
Posts: 407
JohnnyJ Offline
Member
JohnnyJ  Offline
Member

Joined: Jun 2008
Posts: 407
California - Central Coast
I recently saw a television show where it explained that Blockchain is a popular method of payment in the high end Art world because the process also provides good provenance for authenticity in future sales.

Johnny J

#1011730 - 05/22/18 03:32 PM Re: What is Blockchain? [Re: MT Wallet]  
Joined: Dec 2004
Posts: 1,391
AviP Offline
Member
AviP  Offline
Member

Joined: Dec 2004
Posts: 1,391
New Canaan, CT
Here's an example where it might be useful. Let's say you are the 4th buyer of a 2005 R1200RT but you just know the 3rd buyer from whom you bought it. The 3rd buyer knows the 2nd buyer but doesn't share that info with the 4th buyer so the provenance of this bike is lost and buried somewhere in the anals of the DMV. With blockchain, the entire history of that RT can be maintained without the loss of information that occurs. The concept can be extended to maintenance records and would render CarFax obsolete. DIYers would be screwed. But you get the point!


-Avi
97 Viper GTS --- 99 YZF R1 --- 00 R1100 RT --- 01 Bullet C500 --- 07 Ram 1500 MegaCab --- 13 Outback 3.6R
#1011805 - 05/24/18 12:39 AM Re: What is Blockchain? [Re: MT Wallet]  
Joined: Feb 2003
Posts: 1,898
chrisolson Offline
glue
chrisolson  Offline
glue
Member

Joined: Feb 2003
Posts: 1,898
tucson arizona
The link below is the best discussion I've seen of what a "blockchain" is ... or is not ... or who knows what ! Its a long read but after much personal research, this article puts many of the pieces together. One thing to remember is blockchain is a concept not an application. So each design is unique to its solution. Another key fact is that erroneous data ( like a "fat finger" mistake ) can still be validated as a transaction so the thought that any particular blockchain represents the absolute truth is false.

LINKY


Chris
IBA 18417
85 VF500F
95 DR 350
99 R1100S
03 FZ1
Page 2 of 2 1 2

Powered by UBB.threads™ PHP Forum Software 7.6.0
Page Time: 0.008s Queries: 16 (0.002s) Memory: 2.7588 MB (Peak: 2.9115 MB) Zlib enabled. Server Time: 2018-10-17 17:16:53 UTC