Difference between revisions of "Blockchain"
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[[Block Chain]] will solve all problems, provided you have the energy of a small sun available to power it. | [[Block Chain]] will solve all problems, provided you have the energy of a small sun available to power it. | ||
==Context== | ==Context== | ||
| + | The technology for [[Block Chain]] itself has been around for at least 20 years. These simple chain allowed non-revocable commitments by | ||
| + | ===Simple Chains=== | ||
| + | Block chains were first commercialized by Bellcore | ||
| + | ===Proof of Work=== | ||
| + | *The first successful block chain with distributed ledger was created by the pseudonymous | ||
| + | *Mark Russinovich did an interesting calculation that showed that this pow scheme would | ||
| + | |||
==Problems== | ==Problems== | ||
| + | * The current problem that many architects are fixated on solving relate to the concentration of user information in a small number of very large companies. | ||
| + | * There are some [https://en.wikipedia.org/wiki/Proof-of-stake efforts to reduce the power consumption]. If those work, it looks like the solution will just be some other trust framework, but with a different name. For example the proposal of Hardjono et al.<ref>Thos Hardjono, +2 ''Towards a Design Philosophy for Inter-operable Blockchain Systems | ||
| + | '' MIT May 16, 2018 [https://arxiv.org/pdf/1805.05934.pdf]</ref> goes to a resilient system like the internet, which is, of necessity, single rooted even though nearly all components can work independantly for a time, just as the internet itself functions today. | ||
| − | + | ==Solutions== | |
| − | + | *[https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3183935 Proof-of-Stake] solutions use a random selection process, but maintain the value on the chain as the incentive for the selected updater to continue the chain. | |
| + | *[https://medium.com/algorand/secure-blockchain-decentralization-via-committees-7602f598a0a9 Pure Proof-of-Stake block chain systems.] Also has some good comparisons against other schemes. | ||
| + | *[https://medium.com/algorand ALGORAND the block chain for business] contains a good collection of block chain papers. | ||
==References== | ==References== | ||
[[Category:Glossary]] | [[Category:Glossary]] | ||
Revision as of 22:02, 12 December 2018
Contents
Full Title or Meme
Block Chain will solve all problems, provided you have the energy of a small sun available to power it.
Context
The technology for Block Chain itself has been around for at least 20 years. These simple chain allowed non-revocable commitments by
Simple Chains
Block chains were first commercialized by Bellcore
Proof of Work
- The first successful block chain with distributed ledger was created by the pseudonymous
- Mark Russinovich did an interesting calculation that showed that this pow scheme would
Problems
- The current problem that many architects are fixated on solving relate to the concentration of user information in a small number of very large companies.
- There are some efforts to reduce the power consumption. If those work, it looks like the solution will just be some other trust framework, but with a different name. For example the proposal of Hardjono et al.[1] goes to a resilient system like the internet, which is, of necessity, single rooted even though nearly all components can work independantly for a time, just as the internet itself functions today.
Solutions
- Proof-of-Stake solutions use a random selection process, but maintain the value on the chain as the incentive for the selected updater to continue the chain.
- Pure Proof-of-Stake block chain systems. Also has some good comparisons against other schemes.
- ALGORAND the block chain for business contains a good collection of block chain papers.
