Below you will find pages that utilize the taxonomy term “Blockchain”
Of blockchain technology 5-6
5. The cost of storage
Users therefore pay to store their data in the BlockChain. And then, this data is maintained for eternity. Does that make any sense? This means that miners have to bear the cost of this storage indefinitely. In fact they rely on later users to finance them permanently. And as the BlockChain lengthens, they have to store ever more. Depending on upcoming users to ensure the future of storage has some points in common with a Ponzi scheme. If users move away from a given BlockChain, miners stop maintaining it, and the stored data is lost.
Of blockchain technology 3-4
3. The waste of data duplication
Each miner maintains a complete copy of the BlockChain.
If, for example, the BitCoin BlockChain is 1 terabyte (10^12), and there are 100,000 miners, that makes 100 petabytes (10^17). It’s terribly inefficient. I repeat: it is terribly inefficient, terribly inefficient and terribly inefficient. And I only repeated it three times. Adding minors does not increase the capacity of the BlockChain. In reality, a BlockChain would work just as well with a single miner. The remaining 99,999 are technically redundant. We are talking about trust, of course, but a hundred independent miners would be more than enough to guarantee it.
Of blockchain technology 1-2
When I talk about decentralized data storage, my audience inevitably thinks of the BlockChain, and that’s why I want to talk about it here.
The BlockChain is a technology that allows a register to be stored in a decentralised manner and which is very difficult to tamper with. These characteristics are interesting when one seeks to do without a trusted third party for securing records.
In particular, it becomes possible to keep accounts on which a whole monetary system can be built: each entry debits one account and credits another. Cryptomonnaies were the first applications of the BlockChain.