The argument against blockchain

The argument against blockchain

During the course of the first 5 blog posts, we have spent a significant amount of time talking about the world altering potential of blockchain technology and the significant investment opportunity that exists in this space. Today we’re going to have a look at some counter-arguments to that narrative.

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How to buy your first cryptocurrency

How to buy your first cryptocurrency

Over the past few weeks we’ve covered some of the basic aspects of blockchain technology. By now, you are hopefully eager to get started and become part of the blockchain community. The easiest way to do this is to get some cryptocurrency or tokens of your own. In this blog post we will step through how to purchase, transfer and store cryptocurrency and tokens.

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Blockchain Cryptography

Blockchain Cryptography

Today we’re going to talk about the two key cryptographic features that maintain the integrity of all blockchains; cryptographic hash functions and digital signatures. Before we get into this topic allow us to clarify one thing. You do not have to know how these cryptographic features work to purchase, store and/or use cryptocurrencies. Most users have little to no understanding of the underlying technology that protects the integrity of blockchains. If the technical aspects of blockchain doesn’t interest you, feel free to skip this post.

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The blockchain ecosystem

The blockchain ecosystem

In this post we are going to discuss the ecosystem of a typical blockchain. Ecosystem in this context, refers to the different stakeholders and their interactions with each other, the system and the outside world. The different stakeholders we are going to explore are:

  1. Users
  2. Investors
  3. Miners
  4. Developers
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A brief history of blockchain

A brief history of blockchain

A long time ago in a galaxy far, far away…. A mysterious white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was released under the pseudonym Satoshi Nakamoto. The paper described, in their own words, “a system for electronic transactions without relying on trust”.

The time was November 2008 and the galaxy far, far away was the internet. This is the real life history of Bitcoin. To this day, nobody knows for sure who Satoshi Nakamoto is/was. What we do know is that the first open source Bitcoin client was released in January 2009 and over the next couple of years, Satoshi Nakamoto amassed around 1 million Bitcoins before disappearing completely from the Bitcoin scene around mid-2010. To this day, their vast Bitcoin fortune remains untouched, spread across several known Bitcoin accounts. The total value of their Bitcoin as of mid-2017 is around US$4 billion.

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What the hell is blockchain?

What the hell is blockchain?

Imagine for a moment that you were transported back in time to the early 1990’s. Back then, the internet was still in its infancy and Average Joe and Jane had little to no understanding of how it worked.

In 1993, the total number of worldwide internet users was around 14 million and the internet consisted of roughly 130 web pages (ourworldindata.org). Most people had heard of the internet, but it’s potential was still difficult to grasp for the vast majority of people. Imagine trying to explain the infinite possibilities and numerous use cases of the internet to 1993 Average Joe and Jane.

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