Home / Crypto News / After raising $ 100 million, CEO Kik declares: “almost nobody should be looking at blockchain”

After raising $ 100 million, CEO Kik declares: “almost nobody should be looking at blockchain”

 

These criticisms of the incorrect use of the blockchain to store data add to the discussion that has arisen in the community around this issue. A few days ago Bobby Lee, co-founder of BTCC and board member of the Bitcoin Foundation, made statements about the misuse of the blockchain tag in database projects .

] Both Lee and Livingston seem to agree on a point, there are certain data that by their very nature do not agree to be stored in the blockchain. Information about the real world, since it is not strictly digital in nature, tends to present a subjective character and / or can not exist in a system where trust is not required between its parts.

For example, store in A blockchain information on the number of births would be problematic. If anyone can be free to upload data in the blockchain, then false reports of births would arise, it is required to trust that the people who uploaded the data are not lying. And if anyone is not allowed to upload information to the blockchain, we would be talking about a centralized service and the blockchain label would be misused.

It should be noted that Kik has its own cryptocurrency called Kin, which exists in the blockchain of Ethereum. However, at the beginning of the month they announced that they plan to create their own blockchain from a Stellar fork.

Featured image by / stock.adobe.com

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