There’s a blockchain for that!

Moving to a decentralized world of computing.

From Scott Rosenberg on Backchannel:

"There’s this hopelessly geeky new technology. It’s too hard to understand and use. How could it ever break the mass market? Yet developers are excited, venture capital is pouring in, and industry players are taking note. Something big might be happening."

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"At root, the blockchain is all about replacing the servers that power today’s online world with computing power and storage that we all share. Every network requires what programmers call a “single source of truth” — the authority that says, “this is real,” “this user is who she claims to be,” “this transaction occurred.” To date, we have depended on servers run by corporations and governments to provide our single sources of truth. Even the Internet itself uses a handful of root servers to make the domain-name system work.

The blockchain turns the entire network into its source of truth. It’s a mechanism for us to collectively confer legitimacy on one another. That’s why it appeals to the same people who fell in love with the Internet and the Web 20 years ago: No individual or company owns it, and anyone can participate in it.

Blockchainiacs expect that this innovation will detonate a big bang of new, secure, decentralized services and markets — not replacing today’s Internet but extending its reach and capabilities. ..."

Read the rest here: There's a blockchain for that! on BackChannel and more at O'Reilly Radar : Understanding the blockchain

Source: https://medium.com/backchannel/how-bitcoin...