Why would a tipping system on Facebook even have to use a cryptocurrency? It would be completely wasteful on a centralized platform like Facebook.
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Why would a tipping system on Facebook even have to use a cryptocurrency? It would be completely wasteful on a centralized platform like Facebook.
Not exactly. The blockchain properties aren't just decentralization.
The blockchain exists to distribute consensus. If a single entity controls the blockchain there is no distributed consensus but centralized consensus instead. It is much more efficient to implement centralized consensus without implementing all the costly and complicated mechanisms of distributed consensus. It is completely wasteful. And if you think a blockchain would be a good choice for security, remember that banks have centralized databases and they get hacked very rarely.
Goood points! No wonder we have this scaling issue.
We can see that the blockchain is already threating the centralised powers.
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