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      Blockchain is a pretty interesting technology but there’s one massive flaw in this implementation:

      A decentralized peer-to-peer architecture with nodes consisting of market participants (such as banks and securities firms).

      What makes a blockchain trustworthy is that it’s very hard for a single entity to dominate the network and start cheating. bitcoin has thousands of full nodes and each of these help to secure the network. When membership is limited to banks and securities firms only the number of nodes is going to be low. Add to that the stakes are also very high with large sums of money involved and the incentive for someone to break this relatively insecure system is very high.

      In practical terms it’d make a lot of sense for them to just piggyback on the bitcoin blockchain since it’s already heavily secured by a large number of participants. But I doubt they’ll do that since then they’d have to give up on the control they get from the relatively centralized model they’re proposing.

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        With a limited membership list, you can (e.g.) whitelist the private keys that are allowed to participate. The participants can agree up-front that if someone starts overmining everyone else will blacklist their keys.

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          I have had a similar thought, but I have to imagine there is a reasonable answer here… I just can’t think of it.

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          Product release announcement, submitted by an IBM dev.

          LINFA–lobsters is not for advertising.

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            Forgive me, but I couldn’t figure out what LINFA stands for…

            Also, this wasn’t submitted for advertising from what I can tell. This is interesting to the lobsters members if for no other reason than the fact that it is a commercial product that borrows some ideas from bitcoin.

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              And what do we call a news story about a commercial product that members may not be familiar with? Advertising.

              Seriously, what does this teach devs other than to rely on another proprietary toolbox/platform? What value will it have in five or ten years? What great insights does it relate for how blockchains work or can be implemented?

              It wasn’t even a link to the github page…it’s a shiny glossy buzzword-compliant product portal.

              This kinda shit very rapidly clogs up the arteries, because it scratches the hacker itch for “new thing” and “tech” while not illuminating. It will, left untreated, result in the conversion of an otherwise enlightening article channel into an organic advertising platform for companies targeting devs. This kills the lobsters.

              Why does nobody seem to understand this?

              I know I’m a broken record on this, but it is immensely frustrating to watch it happen over and over.

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                It seems there is a sample blockchain application in github

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                  Neither of those links is helpful. The first part of their tutorial would’ve been more helpful than either the OP or your suggestion.

                  The thing that bugs me about this is that the code is not super useful if you aren’t on the Bluemix platform.

                  It’s the commercial bend here that annoys me, especially for an otherwise distributed technology.

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                  Maybe if you wouldn’t get upset with people who use the show tag for this kind of thing, you could just filter it.

                  Unless that tag truly doesn’t work for this kind of thing? In which case, I advocate making a new tag for this, since the community at large doesn’t seem to have a problem with it (this article currently has a score of +9).

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                    Given your prodigious article submission rate, you might want to go and look at the descriptions so you can put tags on that fit your submissions better.

                    Please read the tag description for show:

                    Show Lobsters/ Projects (+0.5 hotness rating)

                    That tag apparently clearly meant for “projects made by lobsters members”. Not “projects by big megacorporations that lobsters feel like linking”, not “projects lobsters thought were shiny”, and so forth.

                    It really waters down the purpose of a tags system to fail to think on how something should be tagged. In the case of the show tag, misusing it hurts because:

                    • the tagged content is elevated to the frontpage over other submissions (making mistagged noise noisier).
                    • the filtering mechanism is broken if you want to see lobster projects and instead get advertising mixed in.

                    community at large doesn’t seem to have a problem with it

                    Out of a community of a few thousand, a few more than ten liked it. Hardly “the community at large”. If you have any experience with voting rings or just general shady forum behavior, it’s pretty easy to game these systems with a little work. The amount of submarine/organic advertising on, say, HN is nontrivial.

                    If we had a news or product announcement tag, that might help.

                    Then again, news is the mindkiller.

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                      Nine upvotes shows clear interest, from a fraction of the community. So, an additional narrowing tag is appropriate. I tend to agree that show is for things by Lobsters users, and it’s not clear whether @kevinSuttle had any involvement with this project, but I’d assume not, other than it being from their employer. I should note that I’ve occasionally submitted things from my employer which I thought were sufficiently interesting, and I see nothing wrong with the practice; it’s one of many ways Lobsters users tend to learn about cool things.

                      But it occurs to me that software is precisely for announcement-type things. I’ve edited the post to add that tag.

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                        To clarify, we’re part of the Linux Foundation, which contributes to https://www.hyperledger.org, including the 40K lines of code found here: https://github.com/openblockchain/obc-peer.

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                          Thanks. :)

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                          But it occurs to me that software is precisely for announcement-type things. I’ve edited the post to add that tag.

                          I knew about that tag a while back but forgot about it. Thanks for pointing that out! :)

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                            Thank you.