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      CommentAuthorAngus
    • CommentTimeMar 11th 2021
     
    Q: are all blockchains as energy-hungry as is Bitcoin?
    Followup: if they are, given equal levels of usage, then how is the blockchain idea a solution for anything?
    Second Followup: Let alone everything, which seems to be where it's all headed.
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      CommentAuthoraber0der
    • CommentTimeMar 11th 2021
     
    Yeah, but I don't know.
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      CommentAuthorgoatcheez
    • CommentTimeMar 11th 2021 edited
     
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      CommentAuthoraber0der
    • CommentTimeMar 12th 2021
     
    What happened to Sean MccArthys Crypto-Dojo BTW? Still entrepreneuring around?
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      CommentAuthorping1400
    • CommentTimeMar 12th 2021
     
    Posted By: AngusQ: are all blockchains as energy-hungry as is Bitcoin?
    Followup: if they are, given equal levels of usage, then how is the blockchain idea a solution for anything?
    Second Followup: Let alone everything, which seems to be where it's all headed.


    No.
    They are not. Depends on the consensus model. The “proof-of-work” consensus model is notorious energy consuming.
    I started a blockchain technology company eight years ago, mainly working on regulated applications. New revenue and business model innovations for traditional industries (automotive, mobility, chemistry, energy, sports) where blockchain enables cooperation in trustless ecosystems. No use of “proof-of-work” consensus, and most times also no crypto involved. Often these application remain in poc and pilot phase, but last years our revenue is mostly saas fees on environments in production.
  1.  
    @ping -

    To your knowledge, has AI been used with blockchain much?
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      CommentAuthoraber0der
    • CommentTimeMar 12th 2021
     
    AI and blockshenangians are different beastoes. (not ping)
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      CommentAuthorping1400
    • CommentTimeMar 12th 2021
     
    Posted By: Andrew Palfreyman@ping -

    To your knowledge, has AI been used with blockchain much?


    It is two very different things. Just like AI can be used in a car. You could use AI for transaction monitoring, like the banks do for their compliance departments.
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      CommentAuthoraber0der
    • CommentTimeMar 12th 2021
     
    You can't frack or blockchainsaw though math.
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      CommentAuthorAngus
    • CommentTimeMar 12th 2021
     
    @ping: thanks. That's interesting, though I'm not sophisticated enough to grasp all of it. If you are not able to "prove work" in a co-oprative environment, then what is the blockchain actually providing to the co-operation? In your saas business are you operating the blockchain itself?
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      CommentAuthorping1400
    • CommentTimeMar 12th 2021
     
    Posted By: Angus@ping: thanks. That's interesting, though I'm not sophisticated enough to grasp all of it. If you are not able to "prove work" in a co-oprative environment, then what is the blockchain actually providing to the co-operation? In your saas business are you operating the blockchain itself?


    We do not develop blockchain software itself. It’s always best to use the blockchain software that was already hardened in the wild. There has never been a piece of software that has been so extensively tested as bitcoin core.

    To prevent one entity to take over the blockchain network it is important to distribute the “right” to create the next block more or less evenly cross participants. There are different methods for this, proof-of-work being one of them (make participants solve a random math puzzle, the one that solves it first makes the next block containing the new tx since last block). Alternative methods are proof-of-stake (number of votes depend on your share in total network assets), or other distributed voting mechanisms. The proof-of-work is very robust but consumes lots of electricity.