Friday, December 1, 2017

A ringed fence of connected blockchains, I bet

First Look: The Hyperledger Project

The open source version of generic sets of blockchain. The heart of the system has to be trusted, ringed fence.  To do otherwise makes for either double spending between independent block chains, or the blockchains suffer a transitory effect when exchanging. At the heart of this is the SGX, 'protect to the hardware layer',  secure element.

My guess, let us see the detail. It is all a great idea, don;t get me wrong.  But they are doing the age old problem of allowing random access to the database while maintaining consistency.

I think their is a proof. Any solution to the conflict can be mapped into a single arbiter with timeout.  The aggregate blockchain(s) ganged is the single arbiter, but they want to avoid that, the timeout is way too large.

Hence the need for the single arbiter drives then to SGX, which can guarantee that a arbitrary set of arbiters will use the same, honest protocol with verification. That reduces the problem to one of counterfeit prevention, creating the exact, digital  duplicate of the bank note, bound to silicon and charge not cellulose and ink.

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