September 22, 2016 at 18:40Accenture Patents Editable Blockchain
Although the headline may seem like an oxymoron to the majority of those who read this news on Gytims, the American consulting company Accenture, which provides consulting services to corporations, including in the area of implementing information technologies, does not think so - and submits an application for patenting a system that allows an option “Editing data stored on the blockchain” , i.e. the compromising essence of the blockchain is its immutability.
Despite gaining momentum, experimentsblockchain global financial institutions, big business and states are still wary of it as an instrument. Perhaps one of the main reasons for caution is the immutability of entries in the blockchain. Everyone who watched the recent showdowns by Apple and the FBI or just watched the new Snowden movie knows how some structures simply cannot imagine their lives without a variety of backdoors for all occasions. For them, the immutability of the blockchain would be a bone in the throat. As for corporations that want to have the right to make a mistake. Obviously, responding to this request, Accenture also offers a blockchain in which you can edit and even delete entries.
Of course, company representatives argue that “data editing” on the blockchain will be possible only in exceptional circumstances, in order to correct typos and actual errors of operators and bring the data in line with the requirements of the changed legislation. They justify their approach by the fact that their system is designed for private blockchains, which are preferred by banks. They will be able to appoint administrators to work with the system, vested with the right to access the database and the right to edit data in accordance with the corporate code.
Giuseppe Ateniese, a leading cryptographer and professor of computer science at the Stevens Institute of Technology, one of the authors of the Accenture patent application, believes that this way they will be able to preserve the advantages of the blockchain, making it even more convenient.
The Accenture prototype uses a method called “chameleon hash” , which involves adding a “lock” between parts of the blockchain. The administrator with the key can open such a lock and edit records. Accenture experts say that such editorial changes will not violate the integrity of the network. Chameleon hash hacks the code around the block being edited, and then uses the adaptation algorithm to restore communication with the rest of the blockchain so that other computers in the chain do not “feel the changes”.
Accenture believes that the ability to make changes to the blockchain will make it more attractive from a commercial point of view and help adapt the blockchain to the corporate world. Richard Lamb, director of financial services at Accenture, believes financial institutions and regulators need tools to quickly fix errors on the blockchain before using it on the securities market. As an example, he cited an input error when , due to an incorrect keystroke, a trade operation is performed in favor of the wrong counterparty.
It is likely that the new development will appeal to banks and government agencies, but certainly not to blockchain enthusiasts:
However, this is unlikely to affect the existing blockchains, and the emergence of new non-blockchains should not affect the development and rates of cryptocurrencies. In the end, even a discussion about what a blockchain should be like helps its development. The main thing is that there is no confusion, and even better if Accenture comes up with its technology a new, separate name.
It's not too late to mine:
Despite gaining momentum, experimentsblockchain global financial institutions, big business and states are still wary of it as an instrument. Perhaps one of the main reasons for caution is the immutability of entries in the blockchain. Everyone who watched the recent showdowns by Apple and the FBI or just watched the new Snowden movie knows how some structures simply cannot imagine their lives without a variety of backdoors for all occasions. For them, the immutability of the blockchain would be a bone in the throat. As for corporations that want to have the right to make a mistake. Obviously, responding to this request, Accenture also offers a blockchain in which you can edit and even delete entries.
Of course, company representatives argue that “data editing” on the blockchain will be possible only in exceptional circumstances, in order to correct typos and actual errors of operators and bring the data in line with the requirements of the changed legislation. They justify their approach by the fact that their system is designed for private blockchains, which are preferred by banks. They will be able to appoint administrators to work with the system, vested with the right to access the database and the right to edit data in accordance with the corporate code.
Giuseppe Ateniese, a leading cryptographer and professor of computer science at the Stevens Institute of Technology, one of the authors of the Accenture patent application, believes that this way they will be able to preserve the advantages of the blockchain, making it even more convenient.
The Accenture prototype uses a method called “chameleon hash” , which involves adding a “lock” between parts of the blockchain. The administrator with the key can open such a lock and edit records. Accenture experts say that such editorial changes will not violate the integrity of the network. Chameleon hash hacks the code around the block being edited, and then uses the adaptation algorithm to restore communication with the rest of the blockchain so that other computers in the chain do not “feel the changes”.
Accenture believes that the ability to make changes to the blockchain will make it more attractive from a commercial point of view and help adapt the blockchain to the corporate world. Richard Lamb, director of financial services at Accenture, believes financial institutions and regulators need tools to quickly fix errors on the blockchain before using it on the securities market. As an example, he cited an input error when , due to an incorrect keystroke, a trade operation is performed in favor of the wrong counterparty.
It is likely that the new development will appeal to banks and government agencies, but certainly not to blockchain enthusiasts:
An editable blockchain is just a database. The whole point of the blockchain is that it remains unchanged. For a system that does not have centralized management, such an editing tool is a big conceptual mistake,
” says Gary Nuttal, founder of the consulting blockchain company
Dislytics
However, this is unlikely to affect the existing blockchains, and the emergence of new non-blockchains should not affect the development and rates of cryptocurrencies. In the end, even a discussion about what a blockchain should be like helps its development. The main thing is that there is no confusion, and even better if Accenture comes up with its technology a new, separate name.
It's not too late to mine: