Blockchain Life

this is a book on amazon by kary O

what does the block chain represent?

how does it work

block chain video simplified

Blockchain Life

Transparency of transcations at least with the most popular crypto of bitcoin

Transaction technology of the future being decentralized so the power is in the hands of the user not an institution but this may not be 100% true if you look at the owners of bitcoin and the platforms where you can transact with it.

where are we going with regulation and how cool this technology really is.

A blockchain, or distributed ledger, is mostly known for the first technology it enabled, the Bitcoin, which Satoshi Nakamoto first described in a paper in 2008.

Today, cryptocurrencies in circulation have a market capitalisation of well over ten billion dollars and new start-ups relying on the blockchain are funded every day. This helps fuel the thirst of venture capitalists for the technology.

Blockchain promises to solve a long-standing computer science issue discussed since the early 1970’s and generalised in 1982 as the Byzantine Generals’ Problem which asks how multiple cooperating parties can reach common knowledge about a factual element when there exists some malicious actors actively trying to spread incorrect information and who have a certain likelihood of intercepting and altering every direct communication between individuals.

Until now, this problem would usually be addressed by relying on a trusted central authority, but for the first time, blockchain allows any such consensus to be reached without having to place trust in any single entity.

it is really neat technology!

The blockchain by itself is of somewhat limited value. In fact it may not benefit most to their inventors but to those who managed to create value on top of them. We need more blockchain adoption for the value to increase. Blockvhain will be a big part of future tranactions although we do not have the tech and the consesnus in place to make it a reality, it may take decades.

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