Post
Topic
Board Announcements (Altcoins)
Re: ★★DigiByte|极特币★★[DGB]✔DigiByte Gaming - CS:GO, LoL, #DigiByteTip, DigiSpeed
by
Jumbley
on 07/06/2016, 07:26:20 UTC
Everyone wants a private centralised system, but the reality is only a public decentralised chain provides the security that "blockchain" has become synonymous for.


Could you (or someone else) elaborate on this? In what sense is making use of a public blockchain more secure than setting up your own private blockchain for internal uses? Smiley
I’ll take a stab at what I think Jared may be implying.
A public blockchain has the eyes of the world on it, so if it is compromised the whole world will know about it. This is the case for Bitcoin and Digibyte. On the other hand, a private blockchain can only be trusted as far as its members can be trusted, so if private members were to collude they can manipulate the chain without the knowledge of anyone else. This is a bit like the existing setup within banking already. It sounds like a better solution to some banks, it allows them to take advantage of the technology while controlling the amount of wool in front of their customer’s eyes perhaps and we all know we can trust these guys not to pull any funny shit, don’t we?
If it is truly for your own internal uses, then of course this should only concern you but is this truly the case?