Porsche NFT, anyone?

[DougFrisk]

I always thought blockchain to be a fascinating technology. However, to date, I have yet to come across a compelling usage scenario which cannot be accomplished via less complex and/or cheaper solutions. It seems blockchain is a solution still looking for a problem.

The one proposal that I've ever seen that is a good match for what blockchain can provide was a proposal to use it to manage the BGP routing tables for the core internet routers. But that scenario is almost tailor made for the Byzantine Generals problem. Most of the core routers can be trusted, but there are a few rogue agents that get in on occasion. A blockchain providing distributed consensus could actually be beneficial here.

BGP Blockchain (ietf.org)

For virtually every other application, including NFTs, it's been forced on it has far more downsides than upsides.

 

[tigerbalm]

As a general rule, I replace the word "blockchain" with the word "database" in my mind and then re-read the hype to see if it is still "impressive".

 

[whitex]

As a general rule, I replace the word "blockchain" with the word "database" in my mind and then re-read the hype to see if it is still "impressive".

Or a more detailed description - an expensive to write, WORM (write once read many) database, typically publicly readable.