https://cs4100.bititiger.com/tags/bitcoin/ Cait Himes's personal blog Hugo -- gohugo.io en domain@service.tld domain@service.tld Copyright © 2023, Cait Himes; All rights reserved. Thu, 07 Oct 2021 16:09:16 -0400 https://cs4100.bititiger.com/posts/thoughts-on-blockchain/ Thu, 07 Oct 2021 16:09:16 -0400 domain@service.tld https://cs4100.bititiger.com/posts/thoughts-on-blockchain/ <p>My thoughts on blockchain are very difficult to convey. I see both pros and cons to using it. This extends from blockchain the data structure to blockchain the currency. I will present what I believe to be the pros and cons below.</p> <h2 id="pros"><a class="anchor" href="#pros" title='Anchor for: Pros.'><svg aria-hidden="true"><use xlink:href="https://cs4100.bititiger.com/img/bundle.min.b5d4f0ecd12840ceb9e91913b2a6951c.svg#hashtag"/></svg></a> Pros</h2> <p>I think blockchain has a lot of potential for federated tasks like voting and moderated content. For voting, I appreciate the way each node can &ldquo;vote&rdquo; for the correct chain if a bad block is injected into the chain. This validation was used in <a href="https://hackernoon.com/which-countries-are-casting-voting-using-blockchain-s33j34ab">several states (and even countries) for voting</a> in past elections. I also see other federated utilities like currency being a very likely path. Blockchain currency (called cryptocurrency) is making a lot of progress with rich investors and some countries starting to recognize and regulate it. This is huge for places where the official currency is inflated or the government is too invasive in their citizen&rsquo;s activity.</p>