Blockchain vs Database

[metalgear]

• Like most people, I have been reading/investing in blockchain technology since about 2016
• For the life of me, I can not understand why some would choose blockchain when a database would suffice
• Perhaps this is a rant...but do we really need Beanie Babies on the blockchain to track the supply/ownership?
• I get smart contracts, payments, and even NFT
• When does it make sense and when does it not make sense?

 

[CCarter]

It only makes sense when people want/need to be transparent about data. Closed databases can be manipulated by people who have access to them: SuperAdmins, hackers/crackers, system operators, and more.

If the data lives in the æther aka the blockchain circlejerk, then it cannot be manipulated. For example, whenever these exchanges get hacked and their buttcoins get stolen people can trace where the buttcoin came out of and what wallet they went into, up to a point (until they got to buttcoin mixers/blender).

People were watching some of the most recent hacks in real-time.

Another example is the Twitter Celebrity scam, where everyone knew what the end wallet was it was easily able to deduct how much money was made by the Florida teen ($100,000).

Otherwise it's a waste of time.