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The only real innovation of blockchain is bitcoin.

The only real innovation of blockchain is bitcoin.

Bitcoin Reddit

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A blockchain without decentralization is just an editable database of hash-linked lists.

A security mechanism without a valuable native digital currency to incentivize the distributed security of the network is not decentralized.

A native digital currency without scarcity and free market price discovery has no value.

Therefore, a blockchain without a native digital currency that is scarce and valued on the open market is fundamentally un-interesting.

"Blockchain technology", "DLT", these are just terms for a centralized but shared database that is tamper evident, but not tamper proof. There is nothing innovative interesting or revolutionary about that.

The ONLY real innovation of "blockchain" is that it allows for the creation of a sovereign system, a system that governs itself, and the bitcoin blockchain is the only blockchain so far that has proven itself to be sovereign.

A blockchain needs a native digital currency to remain decentralized immutable and sovereign, and a native digital currency is the only thing a blockchain can track and attest to the absolute truth of. The two are inextricably linked and one is effectively useless without the other.

submitted by /u/slvbtc
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