
IBM Openblockchain - luu
https://github.com/bcbrock/obc-peer
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programmarchy
One of the most important features of the blockchain is consensus, requiring
nodes to contribute computing power to verify transactions (mining). Part of
the genius of Bitcoin is that the incentive to contribute is built into the
protocol. What would be the incentive to "mine" a hyperledger? Is it
application dependent, e.g. a distributed fee for nodes that settle
securities?

It's nice to have an open source, "agnostic" blockchain implementation, but
seems like figuring out the magic formula of incentive structure is still a
huge piece of the puzzle -- and probably the most difficult aspect of gaining
network participation.

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niftich
I imagine this is solely intended as a building block (based on their previous
announcements), and the question of incentivizing mining is left as an
application-level concern.

Notably, this can be used as a private blockchain which doesn't need to
incentivize mining. The operating organization simply runs all transaction
verification themselves.

~~~
icebraining
_Notably, this can be used as a private blockchain which doesn 't need to
incentivize mining. The operating organization simply runs all transaction
verification themselves._

But then why would you need a blockchain at all? Just use a regular database,
which will be more efficient and much better tested.

~~~
niftich
Because a blockchain a specific type of distributed database, where
sequentiality and tamper-protection come built-in. Although the hype behind
blockchains is strong right now, they're a useful construct for recording a
continuous set of truths like you'd want for a transaction ledger.

