I had the same observation that the blockchain is "just" a distributed log database with horrific performance overhead...<p>...but it's not true that nobody's working on it: quietly, Serious Engineers(tm) working for blockchain companies and you can expect big improvements in the next few years.<p>This rant is nearly isomorphic to the whining in the early 90s by the academics and SunRPC & CORBA fanboys vs HTTP and HTML, which its insane parsing and communications overhead. Serious Engineers(tm) showed up, made the early web work, it took off, and... you don't see many HN job posts asking for CORBA engineers.<p>As with the web, blockchains are exciting because they're a 'looser' and more open protocol than other systems.