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Are the advantages the [[blockchain]] offers game-changers? | Are the advantages the [[blockchain]] offers game-changers? | ||
We would say no: at least until the emergence of the internet, the world has lived with the security vulnerabilities of conventional registries — which is why we have them. The flexibility a trusted intermediary registrar offers over pre-programmed code, however smart — is, in most cases, an advantage, not a disadvantage, and trust is also a feature, not a bug, of a commercial environment | We would say no: at least until the emergence of the internet, the world has lived with the security vulnerabilities of conventional registries — which is why we have them. The flexibility a trusted intermediary registrar offers over pre-programmed code, however smart — is, in most cases, an advantage, not a disadvantage, and trust is also a feature, not a bug, of a commercial environment. | ||
Having a “human” registrar should there be a security compromise is also an advantage. Permissionless blockchains are no more immune to fraud than any system having gormless [[meatware]] in the technology stack (the blockchain itself may be unhackable. but the users who transact across it aren’t, and you are only as safe as your weakest link). <ref>See, as a catalog of perfidies, [https://web3isgoinggreat.com/ Web3 is going just great ...and is definitely not an enormous grift that's pouring lighter fluid on our already-smoldering planet].</ref> | |||
Commerce does not work without trust, so a commercial technique that can function even where commerce cannot is not much of a selling point. If you are running a business in Mogadishu, the security of your ownership registries should be the least of your concerns. | |||
These are not compelling reasons to abandon conventional registries, all of which are now in electronic (if less encrypted) form. Not only have conventional registries been knocked by the millennium into robust shape, but blockchains transparently have not. Flash loans, XSS vulnerabilities, sybil attacks, rug-pulls malicious javascript — | |||
{{sa}} | {{sa}} | ||
*{{br|Antifragile: Things that Gain from Disorder}} | *{{br|Antifragile: Things that Gain from Disorder}} | ||
*[[Pace layering]] | *[[Pace layering]] | ||
{{ref}} | {{ref}} | ||