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Discovering the real blockchain – CoinGeek
This post originally appeared on ZeMing M. Gao website, and we have republished with the author’s permission. Read the entire piece Here.
Behrad Babaee, a technology evangelist at Aerospike, writes why he changed his mind about blockchain: Why I Changed My Mind About Blockchain: The New Stack
The article provides insights into database scalability and how a scalable blockchain like BSV solves the problem.
The good news is that the best IT system architects in the world are not fooled by cryptographic schemes. They also rightly despise him.
But the bad news is that they don’t realize that cryptocurrencies are not a story told about the blockchain but a lie against it.
To find out the truth they should not look beyond but look below.
I hope more and more people open their eyes like Behrad Babaee did. 100 (maybe even just 10) IT systems architects like Behrad Babaee can attract enough companies and developers to create that “parallel universe” he described in his item. It will change the world and make it much more productive and efficient.
Yet very few seek fundamentally better systemic solutions. They focus on correcting the weak links that exist within the current paradigm. And unfortunately they do it because inefficient solutions are precisely what makes them pay well and continuously.
Scalability and decentralization
Some still belittle BSV by claiming that BSV achieves scalability by sacrificing decentralization because large blocks give “data centers” an advantage as stated by Dr. Craig Wright. This points to a key question and can be a meaningful discussion.
But there is a typical misunderstanding about what Satoshi said and what Bitcoin actually is.
First, regarding “data centers”, Dr. Craig Wright only repeats what Satoshi said in his first and other first responses to the crypto list. This is a verifiable historical fact, not an opinion.
Second, it is a mistake to equate “data center” with “centralized”. The entire cryptocurrency industry is based on a misunderstanding of what decentralization is. I put a whole chapter into it.”Decentralization, a widely misunderstood concept” in my book “BIT & COIN: Merging Digitality and Physicality” to explain it. I welcome criticism and informed discussion.
Thirdeven though BTC promotes “all one node”, it still ends up with the same node network model as BSV: the node network is concentrated on fewer than four dominant nodes.
Sometimes, economic reality still prevails over political ideologies, and this is one of those cases.
But this is not bad news. This is exactly what Satoshi had predicted. Works as expected. The network (both BTC and BSV) is down decentralized In the true sense of decentralization.
What is fundamental for “decentralization” is not the number of nominal nodes but the following:
(1) the nature of the economic interests of the nodes, e
(2) the nature of the relationships between nodes and those between nodes, customers, participants and audiences.
The first concerns whether the economic interest of the nodes exists attached or detached from transactions (for example, whether nodes are self-interested like banks or data aggregators, which is bad, or self-interested like electricity providers, which is good).
The latter concerns transparency, competitiveness, integrated incentives and sanctions and feedback.
BTC and BSV are both doing well in terms of decentralization (compared to non-POW consensus-based systems), except for the following differences:
(1) BTC brings with it a gigantic amount of useless baggage in terms of inefficiency to justify its claim to an “everyone is a node” narrative, but
(2) BTC enjoys a much higher level of hashing power due to its much higher valuation.
The former is inherent to BTC’s design philosophy and, therefore, could be perpetual, but the latter is contingent and could change at any time.
As a result, they clearly aim to meet different market needs. Digital gold users naturally prefer BTC, while economic productivity users naturally choose BSV.
Corporate adoption
Business adoption of blockchain it will happen. Apps can already be built on the existing blockchain. However, the world is waiting (not deliberately but just instinctively) for the integration of IPv6 and a universal blockchain unlimited scalability at the TCP/IP layer plus an infrastructure build, so that applications at higher layers can benefit from the following:
(1) predictable scalability, security and cost efficiency,
(2) a universal, locked-in standard that ensures long-term compatibility and applicability,
(3) a common core infrastructure already built so you don’t have to build your own wheels (if not the wheels, the wagon) for each application and repeat the work every time and many times.
The technological basis for all of the above solutions is already here, despite the cryptographic noise and subversion. We need awareness, education, conversion, developers and marketing.
At the same time, there will be some companies willing to become pioneers in building their own railcars without waiting for a mature rail system. If successful, they will enjoy first-mover advantage.
See: The future of blockchain; AND Scaling is more than big blocks.
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