BLOCKCHAIN FOR NEWBIES
While teaching myself distributed computing, I fell flat on my face many times. But after many trials and tribulations, I’m finally ready to explain the basics of distributed systems to you.
If you’re a developer looking to build scalable DApps on Ethereum then you’ve probably run into quite a few problems dealing with transaction throughput and cost per transaction.
Enter Loom, a network of sidechains using Delegated Proof of Stake that increases throughput while checkpointing their security using Transfer Gateways to Ethereum mainnet.
Recently I gave a presentation in Chiang Mai, Thailand on “blockchain governance” and made the argument that there exists an acceptable threshold of centralization, trust and strong identity required to achieve an environment where on-chain governance can exist and thrive. In some circles, especially within Bitcoin, introducing any of these 3 qualities results in a perceived net negative value proposition, which I don’t believe is true.
To find if value actually exists, let’s analyze each individually and build the case for how embracing a certain level of centralization, trust and strong identity can create an effective governance model and increase the overall value of a blockchain-based society. Let the myth busting begin.
Eosio is a software that introduces a blockchain architecture and claims to be a decentralised operating system which supports Dapps, it has developed under an open-source MIT software license. Block.one has build the eosio software, it is a leading blockchain solution company that provide high performance blockchain solution.
Though still a relatively new technology, blockchain has quickly proven its worth. The first use case, Bitcoin, has managed to bring forward the concept of decentralization, and in the meantime distributed ledger technology has exploded in popularity thanks its massive potential, causing multi-industry disruption.
Stablecoins have been around for a long time since the advent of BitShares back in 2014. They’ve gotten more popular with the utilization of Tether on the Omni network and backed by the same people as BitFinex. Let’s dive straight in and discuss what they’re for.
So, you’ve decided to learn about cryptocurrency. Well done! Prepare to journey down the rabbit hole and discover the potential of this truly amazing technology. With time you will begin to understand the intricacies of consensus mechanisms, blockchain types, side chains, plasma chains, valuation methods and more. However, for today, lets just focus on understanding the difference between a coin and a token and analyse the different types of available tokens in the market. Understanding these differences is truly imperative to any investment strategy and a great place to start.