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So much for Blockchain's real life use cases (lemmy.ml)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 4 months ago

I mean, if one party pushes for use of blockchain, you'd just need to trust that specific system (algorithm, network..) and not explicitly the party pushing for it.

I also wouldn't call it power 'waste' since it does useful work - confirmation. It may be more inefficient compared to a centralized authority though. There are other ways of doing confirmations than proof-of-work as well, though each have their own drawbacks - just like a centralized system does,