in 📓 Notes
Blockchain
Table of Contents
1 min read
- Distributed “database”
- No central authority
- Transparent
- Chain of blocks
- Each block has
- Previous block hash
- Hash
- Data
- Distributed ledger
why do we need blockchain
Applications
- Digital Identity
- Cryptocurrencies
- Intellectual Property / Notary
- stampd.io
- Voting (?)
- Smart contracts!
Cryptocurrencies
- Removes trust from an entity
- Mathematically correct
- (Almost) impossible to fraud
- Transparent
Content Ownership / Copyright
How to use the blockchain to register some document as mine?
- https://www.forbes.com/sites/samantharadocchia/2018/07/05/how-non-fungible-tokens-from-physical-collectibles-are-strengthening-asset-backed-securities/
- https://www.sciencedirect.com/science/article/abs/pii/S0267364917303783
- https://www.po.et/
Proof-of-Work vs Proof-of-Stake
- TODO https://www.youtube.com/watch?v=M3EFi_POhps
- TODO Proof-of-replication ? https://filecoin.io/proof-of-replication.pdf
- TODO Powerful fault tolerance: https://filecoin.io/power-fault-tolerance.pdf
Problems
- Too much power usage
- All nodes need to verify transactions –> slow as the slowest node
Proof of Work (PoW)
For example adding a random number to the end of the message that makes the hash function output 30 zeros in the beginning. That requires a lot of computational work to find out but it is easily verifiable.
References
Or if you don't know what a response is, you can always write a webmention comment (you don't need to know what that is).