The past few weeks I’ve been hearing about Bitcoin and blockchains, but I had no idea what any of it meant, so I took off on a search to find some articles that could give me some clues. Below are some useful ones I’ve found.
Blockchains (Wiki): “a distributed database that is used to maintain a continuously growing list of records, called blocks. Each block contains a timestamp and a link to a previous block. A blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.”
How Bitcoin Mining Works: “Computers around the world ‘mine’ for coins by competing with each other.”
The Fifth Protocol: “Cryptocurrencies will create a fifth protocol layer powering the next generation of the Internet.”
Thoughts on Tokens: “Tokens are early today, but will transform technology tomorrow.”
The Bitcoin Model for Crowdfunding: “Bitcoin is more than money, and more than a protocol. It’s a model and platform for true crowdfunding – open, distributed, and liquid all the way.”
Fat Protocols: “The Internet stack, in terms of how value is distributed, is composed of “thin” protocols and ‘fat’ applications. As the market developed, we learned that investing in applications produced high returns whereas investing directly in protocol technologies generally produced low returns…This relationship between protocols and applications is reversed in the blockchain application stack.”
The Product Manager’s guide to the Blockchain — Part 1: “From a Business perspective, Blockchains can be used as an exchange network to move value, assets , transactions amongst peers on the network without the need for any 3rd party intermediary to validate or maintain these movements.”