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Offline Method-X

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One Blockchain vs. Many Blockchains
« on: September 11, 2014, 04:56:56 PM »

It seems this budding industry can go in one of two directions:

a) One blockchain that lesser blockchains plug into.
b) Many blockchains that stand on their own and "talk" to each other (i.e. DPoS).

Bitcoiners want BTC to be THE blockchain and everything else will plug into it.
Etherium wants it to be their blockchain.
BitShares wants everyone to use DPoS to create blockchains that stand on their own.

I'm here obviously because I see the BitShares philosophy as being the best way forward but would like to hear everyone elses thoughts on this.

Offline tonyk

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Re: One Blockchain vs. Many Blockchains
« Reply #1 on: September 11, 2014, 05:03:06 PM »

Let the market decide.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline luckybit

Re: One Blockchain vs. Many Blockchains
« Reply #2 on: September 11, 2014, 05:06:10 PM »
It seems this budding industry can go in one of two directions:

a) One blockchain that lesser blockchains plug into.
b) Many blockchains that stand on their own and "talk" to each other (i.e. DPoS).

Bitcoiners want BTC to be THE blockchain and everything else will plug into it.
Etherium wants it to be their blockchain.
BitShares wants everyone to use DPoS to create blockchains that stand on their own.

I'm here obviously because I see the BitShares philosophy as being the best way forward but would like to hear everyone elses thoughts on this.

There is no reason to have a central blockchain any more than we would want a crypto central bank or central authority.

So why are so many pushing to have a central blockchain? I prefer many blockchains because the leading blockchains who have all the resources are among the least innovative.
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Offline xeroc

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Re: One Blockchain vs. Many Blockchains
« Reply #3 on: September 11, 2014, 05:07:36 PM »
i.e., decentralization of decentralized public ledgers :-)

no single point of single point of single point of failure of failure of failure :-)
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Offline Method-X

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Re: One Blockchain vs. Many Blockchains
« Reply #4 on: September 11, 2014, 05:11:32 PM »
It seems this budding industry can go in one of two directions:

a) One blockchain that lesser blockchains plug into.
b) Many blockchains that stand on their own and "talk" to each other (i.e. DPoS).

Bitcoiners want BTC to be THE blockchain and everything else will plug into it.
Etherium wants it to be their blockchain.
BitShares wants everyone to use DPoS to create blockchains that stand on their own.

I'm here obviously because I see the BitShares philosophy as being the best way forward but would like to hear everyone elses thoughts on this.

There is no reason to have a central blockchain any more than we would want a crypto central bank or central authority.

So why are so many pushing to have a central blockchain?

I agree. I think it's because they're stuck in the paradigm where the blockchain = the Internet. They think, "there is only one internet so there can be only one blockchain". With DPoS, blockchain technology becomes more analogous to a website. Anyone can create one but for it to have value, it must make a profit or offer some sort of novelty.
« Last Edit: September 11, 2014, 05:14:02 PM by MeTHoDx »

Offline xeroc

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Re: One Blockchain vs. Many Blockchains
« Reply #5 on: September 11, 2014, 05:14:05 PM »
DPOS networks are more like "autonomous networks" (http://sv.wikipedia.org/wiki/Autonomous_System) or ISPs .. and most of them have peering connections to each other ... :-)
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Offline Method-X

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Re: One Blockchain vs. Many Blockchains
« Reply #6 on: September 11, 2014, 05:20:26 PM »
It would be interesting if a DPoS blockchain could be plugged into a PoW blockchain.

Offline xeroc

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Re: One Blockchain vs. Many Blockchains
« Reply #7 on: September 11, 2014, 05:22:11 PM »
It would be interesting if a DPoS blockchain could be plugged into a PoW blockchain.
you can fork a POW chain to then run of a DPOS chain .. you cannot have both .. why would you!
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Offline luckybit

Re: One Blockchain vs. Many Blockchains
« Reply #8 on: September 11, 2014, 05:23:52 PM »
It seems this budding industry can go in one of two directions:

a) One blockchain that lesser blockchains plug into.
b) Many blockchains that stand on their own and "talk" to each other (i.e. DPoS).

Bitcoiners want BTC to be THE blockchain and everything else will plug into it.
Etherium wants it to be their blockchain.
BitShares wants everyone to use DPoS to create blockchains that stand on their own.

I'm here obviously because I see the BitShares philosophy as being the best way forward but would like to hear everyone elses thoughts on this.

There is no reason to have a central blockchain any more than we would want a crypto central bank or central authority.

So why are so many pushing to have a central blockchain?

I agree. I think it's because they're stuck in the paradigm where the blockchain = the Internet. They think, "there is only one internet so there can be only one blockchain". With DPoS, blockchain technology becomes more analogous to a website. Anyone can create one but for it to have value, it must make a profit or offer some sort of novelty.

Maybe the fact that there was only one Internet is part of the source of the problem. Meshnets would decentralize the Internet.
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Offline arhag

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Re: One Blockchain vs. Many Blockchains
« Reply #9 on: September 11, 2014, 05:42:38 PM »
I agree. I think it's because they're stuck in the paradigm where the blockchain = the Internet. They think, "there is only one internet so there can be only one blockchain". With DPoS, blockchain technology becomes more analogous to a website. Anyone can create one but for it to have value, it must make a profit or offer some sort of novelty.

In my opinion it is because they are still stuck with the POW mentality. In proof of work, "there can be only one" (for a given hashing algorithm). A blockchain with low hash power is always at risk of a blockchain with much larger hash power using its excess hash power to take over over the small competitor temporarily just to cause some damage (double spends). Competition in free markets is great and all, but that's just sabotage.

In DPOS, on the other hand, taking over the network even momentarily requires letting go of real money to buy up the stake in the DAC. Buying up the underdog DAC just to kill it is a pointless effort, since that amounts to paying your competitors to just restart the DAC. This allows for true competition between DACs which leads to greater innovation in this space.

Offline Method-X

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Re: One Blockchain vs. Many Blockchains
« Reply #10 on: September 11, 2014, 08:36:15 PM »
It would be interesting if a DPoS blockchain could be plugged into a PoW blockchain.
you can fork a POW chain to then run of a DPOS chain .. you cannot have both .. why would you!

Can you imagine Dogecoin running on DPoS? Just picture the election campaigns in /r/Dogecoin!!!

Offline xeroc

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Re: One Blockchain vs. Many Blockchains
« Reply #11 on: September 11, 2014, 08:41:44 PM »
Check out "BitShares Diamonds" on the forum ..
https://bitsharestalk.org/index.php?topic=5712.msg77152#msg77152
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