If you want a more in-depth version of this essay, listen to Schneier's excellent talk about the blockchain from early 2017. It hits essentially the same beats, only with a lot more detail.
If you want a more in-depth version of this essay, listen to Schneier's excellent talk about the blockchain from early 2017. It hits essentially the same beats, only with a lot more detail.
Trustless networks should focus on moving the trust in network away from some sort of centralized monopoly and toward the users. I think that Bitcoin and other cryptocurrencies are stepping in...
Trustless networks should focus on moving the trust in network away from some sort of centralized monopoly and toward the users. I think that Bitcoin and other cryptocurrencies are stepping in right direction, though they do have a long way to go. For instance, while Bitcoin might have moved the trust away from banks and institutions that act in their own interest, it has been moved to miners that act in their own interest. This was very prominent with the BTC vs BCH debacle a while back. Maybe new innovations with Proof-of-Stake will help alleviate some of these issues, though at the end of the day one will still have to trust the dev teams.
If you want a more in-depth version of this essay, listen to Schneier's excellent talk about the blockchain from early 2017. It hits essentially the same beats, only with a lot more detail.
Trustless networks should focus on moving the trust in network away from some sort of centralized monopoly and toward the users. I think that Bitcoin and other cryptocurrencies are stepping in right direction, though they do have a long way to go. For instance, while Bitcoin might have moved the trust away from banks and institutions that act in their own interest, it has been moved to miners that act in their own interest. This was very prominent with the BTC vs BCH debacle a while back. Maybe new innovations with Proof-of-Stake will help alleviate some of these issues, though at the end of the day one will still have to trust the dev teams.