Last night the API (Scotbot) that powers tribes went down, and it started a discussion that I think is important. I won't get into the Scotbot issue as it's not really the point of this post.
Yesterday, I asked in Engine discord if there is any update on Scotbot.
To which @aggroed responds,
To which I respond,
@cryptomancer steps in and states Hive Engine and Steem Engine are in fact blockchains.
@cryptomancer later goes on further explaining how Engine properties are in fact blockchains.
Let me present the official Oxford definition of a blockchain.
This definition does not describe Hive Engine or Steem Engine at all. From here on out I will refer to Hive Engine and Steem Engine as Engine.
Let's look at some of the core benefits of a blockchain.
- Distributed Ledger
- Tamper proof
- Verification without dependency of a third party
- System is append only, data cannot be altered or deleted (Immutable)
- Protected by cryptography
- Transactions are public and verifiable
Without a doubt, Engine is not decentralized.
Transactions on Engine are not distributed across a network
Engine is not tamperproof, at any time anyone on the Engine team with appropriate access can modify balances and transactions.
All verification is dependent on one single third party entity (Engine)
While Engine may in fact as an append only mode, the possibility to edit/delete from the postgres/mongo database is technically possible and relatively easy to do with the correct access.
I don't know enough about the inner workings of Engine to determine if it is in fact protected by cryptography, I suspect it is not and is just stored in postgres but I don't have enough information to confirm or deny this.
Transactions for Engine are not public or verifiable without trusting a single third party.
Engine doesn't remotely meet the criteria, attributes, or benefits of a blockchain. A blockchain is built on the lack of trust, typically called a trustless system. Engine is the complete opposite, Engine is completely dependent on a benevolent overseer to be honest and reliable.
So I ask you, is Engine a blockchain?
Which leaves me with one question...
How much money is on Hive Engine right now?
Answer, quite a bit.
While I am not happy about certain things about Engine, I really love how many opportunities it brings to Hive. It just goes to show how much SMTs can bring to Hive when a token system native to the blockchain and protected by consensus is. Pair that with native smart contracts and we will have something no one else has, free three second transactions with the ability to create your own contracts and tokens. I honestly believe this is the only way Hive can become what it has always dreamed of being.
Posted Using LeoFinance Beta