Hacker News Reader

Blockchain and b2b banking infrastructure seems like a more sensible use case, since the transaction processing infrastructure can be offloaded to the ethereum network instead of the visa’s infrastructure for some kinds of transactions.

What used to take days may now only take minutes.

Unless this is just another avenue for speculative trading…

View on HN

I always had a dumb question on this.

Say I'm Walmart and I want to adopt blockchain to hold distributors accountable or whatever usecase. Why does that have to be tied to some coin / why does it have to be public?

aka... I'm sure Walmart has (many) instances of things like free-open-source software like Postgres, Redis, etc.

Why not "blockchaind"? Big companies host their own infrastructure (or use it hosted by AWS). Why do we have to buy into this proof of work, proof of stake, public, tied to NFTs and memecoins crypto-currency for blockchain?

Why would anyone use a private blockchain instead of a regular database?

Byzantine generals not trusting each other

If your blockchain is private, you already need to approve and this trust each member.

They don't have to trust each other, they just have to trust Walmart.

That's why we had to bring in the Ponzinscheme Generals.

> What used to take days may now only take minutes.

A transaction is processed in 2-3 seconds on modern L1 blockchains

Reply on news.ycombinator.com