Showing posts with the label Block Chain

Understanding Blockchain : The theory and the threats

In this post I'll break down some key aspects of what makes a blockchain, blocky and chainy. I'll also break out some ideas I have on what threatens block chain applications in design an implementation potentially speaking.

What is the blockchain? Blockchain applications essentially provides a means to orchestrate transactions based on something called a "state-machine" that propagates and maintains global addressable list of all transactions ever.  Essentially folks needed a way for all agreements of a given theme based on the value of something to follow a strict grammar and language i.e. based on principles that "this thing" must appear before "this thing" rules that follow this format are great for language based machines like state machines. After all we designed computers and all formal definitions so far on these properties, they are such powerful means of scrying computation out of nature we are applying them to quantum bodies in profound…