Originally published at: Blockchain & Linux: Exclusive Interview with Hyperledger's Daniela Barbosa
In this exclusive interview with Daniela Barbosa, Executive Director of the Hyperledger Foundation and General Manager of Blockchain and Identity at The Linux Foundation, we delve into the dynamic and evolving world of blockchain technology. Her leadership in the Hyperledger Foundation illuminates the interplay between blockchain, identity management, and the Linux ecosystem. Readers will gain…
Blockchain seems like a good idea on the surface. However, in practice, I haven’t come across situations where it’s the best solution.
I mean, the whole idea of data immutability and a kind of “democracy” for information sounds cool, but the drawbacks are quite significant for real-world use.
The main selling point, that data can’t be altered, isn’t entirely true. Ethereum, for instance, had a fork because a group in charge decided to change some data. In smaller blockchain networks, a malicious actor could set up enough nodes to control over 50%, giving them the power to manipulate things.
Plus, it’s not very eco-friendly. Adding or modifying data involves a lot of computationally intensive processing, often done redundantly by multiple machines simultaneously. So, it ends up consuming a ton of energy just to add a single entry to a database.