The meaning of blockchain technology has been perverted, according to Digibyte founder Jared Tate.
In a recent interview with Coin Rivet contributor, Irina Litchfield, he said: “We’ve seen people come along, talking up a technology and claiming it is decentralised and then you find out that their entire system runs on a handful of servers they control. That’s no different from a clustered database.”
Far from the oft heard assertion that it popped up out of nowhere, blockchain is the continuation of 50/60 years of developments in mathematics, cryptography and computer science, he added. “The term cipher block chaining has been around since the 1960s.”
“For me, when I hear the term blockchain, I think of a really decentralised platform that’s spread out amongst thousands of different computers and servers, or what we call nodes, across the planet and it doesn’t rely on a single point of failure,” Tate commented.
Committed to the cause
This was an area addressed by Digibyte’s Josiah Spackman in an interview with Coin Rivet earlier this year.
“When DigiByte was launched in 2014, pre-mined blockchains were scoffed at and most never lasted more than a few months. It was the people who were genuine believers in the technology and their project who survived. Finding others who also believed in your project, the goals, and what it stands for also helps significantly,” he said.
A major plus is that Tate remains active in the project. “Where we see others start up and their founder ups and leaves after a few months to go start their third or fourth blockchain, Jared has remained very committed and is still a believer to this day, actively contributing to the DigiByte code and building projects on the blockchain.”
“To this day, we still have other projects with slick marketing, yet these projects couldn’t even write their own whitepaper. I feel we’re going to see more focus on the “tried and tested”, we’re going to see many of these “nice idea” projects with no substance fall by the wayside, and we’re going to see more and more focus on the use of blockchain outside of just a method of payment,” Spackman predicted.