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will have their own strengths and bitcoin abc prune weaknesses depending on what youre specifically trying to accomplish. In that way, we can we mathematically certain of the systems security and authenticity. The next example is very popular in the literature surrounding this topic. Conversely, I can see standard databases/stacks which simply have new features based on modern cryptographic primitives also being innovative and useful. The industry has started to realize that privacy is important for both consumer and business applications of blockchain. Ripple is a great example of how you can still innovate on a technology stack using a combination of the aforementioned factors, rather than all of them, as Bitcoin does. On the count of three, each person chooses either rock, scissors, or paper.
Because youve returned control of the database/stack to a Trusted Third Party (TTP who can act maliciously. I wonder if these systems should be called Publicy Private Blockchains.
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It should now be clear, generally, what I mean by privacy in these systems. Say that you have a database of patient medical records and lets say that an external research agency is doing a study to identify early signs of cancer in patients (or some other important medical study). There are a few other security features which I believe are also important, but the latter are discussed most. What the majority of the industry is missing is that there are cryptosystems designed to accomplish privacy without sacrificing security. Albeit, there are other tradeoffs, like computational speed, system complexity, and many more. Lets say that two people are playing the classic game Rock, Scissors, Paper with each other. Fintech, quant, risk pro: prmia, EY, others. If your blockchain doesnt have privacy features, it will automatically eliminate itself from an enormous range of important applications (e.g. How would we compute the winner? Many institutional financial applications). Actually, the design of these cryptosystems has been one of the most important scientific challenges in modern cryptography over the last twenty plus years. I believe the level of security you need for a technology stack depends on your specific application.
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