[EM] Election-Methods Digest, Vol 210, Issue 62

[Daniel Carrera]

On Sat, Jan 29, 2022 at 12:43 PM <culitif at tuta.io> wrote:

> There's also many concerns about the centralization of it. Centralization
> is a major problem amongst most blockchain protocols and to date there's no
> foolproof solution most people agree on.
>

Yeah. This one is particularly ironic considering the raison d'etre of
Bitcoin. Bitcoin is *more* centralized than the system it seeks to replace.
I recall reading that just 3 mining pools are responsible for > 50% of
transactions so they could band together and do a 51% attack. The banking
system is waaaay less centralized than that. And none of this even
addresses the more fundamental issue that blockchain is a solution in
search of a problem. It's a public append-only database. Yes, it's a very
clever way to implement a public append-only database. But there has never
been a problem in the history of the world where someone said "you know...
to fix this problem what I really need is a public append-only database."

Cheers,
-- 
Dr. Daniel Carrera
Postdoctoral Research Associate
Iowa State University
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