Bitcoin may have these capabilities already, but will bitcoin have turned into a fading fad by the time your project gets to field trials? Do these capabilities translate into mining rewards and fees for your network's guarantors?
Looking at Bitcoin, it is probably the most secure tokenized system the world has today. But how can I use either Bitcoin, or maybe even the block-chain/miner & nodes validation, for third party projects.
I could imagine this in a project where Bitcoin would act as timestamp for certain routines, or for validating certain requests historically, but that would mean I need to lean towards Bitcoin itself, and not fork the project, which in turn gives me an obsolete/insecure alt-coin that does not give the hashing protection Bitcoin has, and can be tampered with. My point is that I want a decentralized database, protected by miners. It is great for sessions, storage, proof of work, proof of ownership etc.
So what is the suggestion in the community about this? Fork? Build a layer on of Bitcoin somehow? Fork the block-chain, and keep the hash power? (not even possible I assume)
What are you on about? Even IF Bitcoin was to turn into a so-called fad, the existence of block-chain/mining security based applications are a great feature for any project.
There is a service that uses bitcoin blockchain to prove that certain data exists at a certain moment of time [link removed] . This is done by generating a bitcoin transaction (unspendable) to two specially crafted addresses.
This is a very inefficient and destructive way to perform this tasks. I would not recommend using or promoting this service.
Could you expand more on your thoughts for this? From my point of view this service already done a lot of neat things. What is the downfall?