Ask HN: Does the blockchain improve any parts of the existing tech stack by 10x?

3 points by aryxns 3 years ago | 21 comments

I've been thinking about this a lot lately. The blockchain is fundamentally architectural innovation. And to me, the core value is in finding ways to improve existing software systems using this new distributed architecture.

Think of products like https://fleek.co/

A few ideas that fascinate me: 1. Better database for specific industries (financial data?) - Core value is not relying on third-party servers by using IPFS. 2. Better authentication (the in-browser wallet auth is smooth!) 3. Potentially a better way to host critical code functions on smart contracts w/ Oracles (since someone can break your hosted code, but code on a contract is hard to modify and break.)

I wonder what other devs think.

sp332 3 years ago |

It's an interesting tech demo for a very niche use case: when you need both a decentralized database and a way to avoid editing history (e.g. "double-spending"). All of the uses you mentioned only need one or the other. If you need to keep track of transactions like a ledger, it's trivial to use a normal, centralized database with a published transaction log for trust-free audits. That gets you protection against double-spending without any of the inefficiency of blockchain tech. For the other side, you can have something like bittorrent or IPFS (which is not blockchain tech, BTW) where there is no central gatekeeper, but rewriting history doesn't matter. There's just darn little in that intersection of the Venn diagram.

aryxns 3 years ago | |

care to elaborate more on what you see does exist at that intersection?

al2o3cr 3 years ago |

    Better database for specific industries (financial data?) -
    Core value is not relying on third-party servers by using IPFS

So instead of relying on a third-party with a contract, they'd instead rely on a peer-to-peer network with no SLA? LOL

    Better authentication (the in-browser wallet auth is smooth!)

Oh, it's plenty smooth alright - seems like a day doesn't go by without somebody's apes getting snatched with just a phishing email. Nope.

    Potentially a better way to host critical code functions on smart contracts w/ Oracles

ROFL, see how THAT turned out for all the DeFi projects that have been blown up with either oracle exploits or misconfigured smart contracts this year.

aryxns 3 years ago | |

alright, I don't fully disagree with this sentiment.

on (2), isn't that an application-layer fix? i.e build better/more secure wallets.

the underlying identity system with addresses seems useful is what I meant. I like to think of interesting access control systems that can be built upon this. using a wallet's ownership data/activity, you can assign access/rights.

guilhas 3 years ago |

I would say there is a lot of potential. I think in ten years every enterprise product, and major websites will have some kind of blockchain associated

Crypto, reputation, hosting, authentication, spam, advertising, captcha, auditing, consensus... Blockchain is more than just crypto

tempera 3 years ago |

Blockchain is a buzzword, used to trick VCs to pour money in shady bizs.

Blockchain is only good for what Bitcoin does, namely, a distributed ledger for unstoppable, permissionless transactions between peers.

Without a trusted third-party acting as a middle-man.

Is that not enough?

wheresmycraisin 3 years ago |

It has incredible potential according to all the 12 year olds financial advisors of tiktok. Please go waste your life trying to solve problems with crypto and leave the rest of us alone.

aryxns 3 years ago | |

LOL - can't disrespect the 12 yo who just told me to buy AlphaGenMoon Coin to 100x my investment in 10 days.

samkokjin 3 years ago |

No.

superchroma 3 years ago |

No.

togaen 3 years ago |

No.

Klonoar 3 years ago |

No.

aryxns 3 years ago | |

Since you're big on privacy, do you see potential value in better user data systems created on distributed networks?

Probably along these lines: https://ieeexplore.ieee.org/abstract/document/7163223

wmf 3 years ago | | |

There's a lot of cool privacy stuff you can do with zero-knowledge tech (not necessarily blockchain) but the biggest problem is that companies can just... not adopt that tech because they'd make less money.

john_the_writer 3 years ago | | |

I stopped believing in privacy when the Canadian Gov froze bitcoin of protesters.

Regardless of my stance on the issue, it IMHO invalidated most of what bitcoin stood for (in my mind)

slater 3 years ago |

No.

destevil 3 years ago |

snakeoil