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"The blockchain method primarily used by those engaging in cryptocurrency transactions is a decentralized mechanism where all the information is stored in blocks, can be viewed and altered by registered users. In the case of Sierra Leone elections, allows the votes to be seen by voters who are registered within the system, in the public ledgers, but only allowed authorized persons to make any changes, this, in turn, prevents the chances of fraud since the voting information is available to all the blockchain users."
I would personally like it if they would explain the mechanics of their so-called "blockchain" to us mortals.
As I understand a blockchain, it is an extensible data structure that (when used in a bitcoin context) incorporates sequentially applied, recursively structured self-referential checksum mechanisms to counter efforts at tampering with the contents of the blocks; usually, via recursive encryption.
~childo
(Score: 0) by Anonymous Coward on Friday March 16 2018, @01:33AM
The Bitcoin blockchain should be used to settle a snapshot of the world's transaction history.
The actual transactions should take place "off-chain", by other means, such as the decentralized Lightening Network.
It's not helpful to be able to verify your coffee purchase for all time; however, it is helpful to be able to verify the coffee purchases of 1 million people, etc.
Furthermore, "off-chain" solutions will improve privacy: An individual's transaction history is obscured, because only the aggregate is ultimately stored for all time in the blockchain.