Cal Paterson • 8/11/2022

There aren't that many uses for blockchains

This article critically examines the real-world applicability of blockchains, arguing they are not a general-purpose technology like 'web3' suggests. It compares blockchains to traditional centralized databases, highlighting their slowness, high energy cost, and scalability issues. The author establishes specific criteria for when a blockchain is actually necessary, concluding that decentralized currencies like Bitcoin are one of the few valid use-cases.

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#distributed databases #energy efficiency #Blockchain