Difference between revisions of "Blockchain"
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==Context== | ==Context== | ||
The technology for [[Block Chain]] itself has been around for at least 20 years. These simple chain allowed non-revocable commitments by | The technology for [[Block Chain]] itself has been around for at least 20 years. These simple chain allowed non-revocable commitments by | ||
| − | ===Simple Chains | + | ===Simple Chains=== |
Block chains were first commercialized by Bellcore | Block chains were first commercialized by Bellcore | ||
===Proof of Work=== | ===Proof of Work=== | ||
Revision as of 21:59, 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
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.
