The Bitcoin blockchain, as implemented today:
- Takes over 10 minutes to come to consensus
- Cannot handle the transaction volume of a reasonably large retail company
- Loses accepted transactions!!! (blockchain forks, orphan blocks, etc) From a distributed database perspective the Bitcoin blockchain is broken and loses data: like a decentralized MongoDB, but slower by several orders of magnitude.
Articles like this are largely uninformed non-technical people responding to hype. They don't know what a replicated log is, let alone a Merkle tree.
There are many interesting distributed ledger technologies, like Stellar SCP, Hyperledger, and Tendermint.
The Bitcoin blockchain is ill-suited for this purpose.
- Takes over 10 minutes to come to consensus
- Cannot handle the transaction volume of a reasonably large retail company
- Loses accepted transactions!!! (blockchain forks, orphan blocks, etc) From a distributed database perspective the Bitcoin blockchain is broken and loses data: like a decentralized MongoDB, but slower by several orders of magnitude.
Articles like this are largely uninformed non-technical people responding to hype. They don't know what a replicated log is, let alone a Merkle tree.
There are many interesting distributed ledger technologies, like Stellar SCP, Hyperledger, and Tendermint.
The Bitcoin blockchain is ill-suited for this purpose.