jdreyer wrote on Oct 17, 2021, 00:32:
Does blockchain by definition require massive amounts of power? I know Bitcoin is designed that way in order that it maintain its value, but does it always mean that blockchain must use successively more resources?
In short, no.
In layman's terms, "blockchain" is just nothing more than a trustworthy ledger because each block, and the data therein, is checksummed and cryptographically signed. I won't say it's impossible to forge the veracity of any one block, just very, very unlikely and it would take someone from a incredibly tiny pool of mathematicians to pull it off.
Most people automatically equate "blockchain" with "cryptocurrency" or NFTs. Those items use blockchain technology but they are not blockchain in and of themselves. Here's an example of using a private blockchain that has nothing to do with cryptocurrency or NFTS:
Let's say you, Bob, Inez, and Ibrihim are working on a very sensitive project and you are all working out of your home offices in disparate parts of the world. You get your part done. You use blockchain to insure that the data you send to Bob is both good and secure. Bob adds his part in a new block and sends it to Inez. She can doublecheck that the parts you and Bob have sent her have not been tampered with in anyway because the data in the block matches its checksum and
it matches the cryptographic signatures of you and Bob. She then adds her block and sends it on to Ibrihim who does the same thing. So all of you turn your project in and, because you have people who went to school somewhere other than ITT, they audit the entire chain. All the signatures and checksums match and the end result of your project can be determined to be true, correct, and secure.
I have started using blockchain to insure and verify the security of my backups both here and at work. It costs zero additional cycles, and therefore power, to do so. We waste much more power for playing games. You can even add blocks on to a chain or create a chain from a very low power device like a Raspberry Pi. It would take a while because of a Raspberry Pi's relatively slow speed, but it is doable.
"Lock the doors. Kill the light. No one's coming...home tonight. It's getting colder."
If you would like help or further details on a technical discussion we're having, email me at bnhelp (at sign) keepusiel.net .