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kleinbl00  ·  1254 days ago  ·  link  ·    ·  parent  ·  post: Blockchain, the amazing solution for almost nothing

You're talking Bitcoin, not blockchain. Bitcoin largely exists so that Chinese tongs can hide assets from Xi. It was invented by a South African embezzler and popularized by libertarians.

Ethereum uses staggering amounts of energy, too. This is why everyone who does anything with ETH is deploying test-cases while the eggheads figure out how to make proof-of-stake work. The change means instead of solving puzzles to prove you have the authentic blockchain, you basically pay an insurance policy. The chance for a spectacular implosion is high, which is why they're like two and a half years overdue. Screw this up and you won't get a do-over for a decade.

But we're talking about blockchain. The authentication protocol I've been talking about this entire time runs on a private network built on the Ethereum protocol. I doubt it has more than a hundred nodes. Rather than "everyone who wants to run anything on Ethereum" using up its transactions, it's "everyone who wants to verify ownership on Arianee" which is a much smaller subset. Is Arianee big enough to not run afoul of the 51% problems being discussed? Sure - since it's a private network they get to set whatever rules they want. So is it a true public blockchain? You bet your sweet bippy it isn't.

But it's a blockchain. Providing a solution.