Author Topic: block chain.  (Read 245 times)

anunitu

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block chain.
« on: July 01, 2018, 02:55:59 AM »
I see this mentioned a lot,and hope someone can explain what it is exactly in programming?

The concept it seems can be used in large business.


fearless

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Re: block chain.
« Reply #2 on: July 01, 2018, 08:53:41 AM »
Basic overview: https://www.youtube.com/watch?v=SSo_EIwHSd4
More detailed demo/example: https://anders.com/blockchain/
Honestly a lot of companies dont need a blockchain, and a lot are repackaging "blockchain solutions" as a way of selling well basically a database. There is some use cases for blockchains, but a lot of companies wont ever need one. Immutability can be achieved by using hashes in a database, no need for using a cumbersome blockchain for that purpose. Decentralization is useful to prevent censorship, but does a company need that for what is effectively a database/ledger. No in 99.99% of cases.

You will hear about projects, ICOs etc all claiming to launch a blockchain to be the next big thing for a particular sector of finance, industry, logistics, shipping, housing etc etc. Very few actually need a blockchain, let alone there own token.

Bitcoin uses a blockchain and as such is the best example of something that requires a blockchain for decentralization and immutability.
Look into bitcoin, the satoshi white paper and that will help give you an understanding of the bitcoin blockchain.
From a programming point of view, contributing to a open source cryptocurrency, or creating a tool/utility that helps users interact with blockchains (bitcoin etc) like full node software wallets, spv wallets, or block explorers are where the majority of development is, as far as i know. Other programming that is useful to look into is with the lightning network with 3 implementations so far (all open source) and the zap wallet for the lighting network.
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anunitu

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Re: block chain.
« Reply #3 on: July 01, 2018, 10:13:19 AM »
Truly,the tech is growing way to fast for my reptilian brain to keep up with.


K_F

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Re: block chain.
« Reply #4 on: July 02, 2018, 02:33:29 AM »
.. and therein lies the problem with the blockchain, that had eventually caused the 'failure' of bitcoin.

'The chain of blocks' eventually self-hemorrhages and it's distributed network comes to a grinding halt.
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