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Blockchains are peer-to-peer cloud computers that collectively enforce a set of rules on a historical record that they create together. If the rules meet your n
by natrius 11y ago
Blockchains are peer-to-peer cloud computers that collectively enforce a set of rules on a historical record that they create together. If the rules meet your needs, you can use a blockchain’s history as the source of truth for any information you want because no one can break those rules. Bitcoin’s rules define a currency: how are new tokens produced, how many are allowed, how they can be transferred from one person to another, etc. Ethereum’s rules define a process for defining new rules. This makes it a universal blockchain where rules for any interaction can be defined, and anyone can choose whether to treat its historical record as their source of truth.
We're in the process of defining economic interactions—both existing and novel interactions—as entries in a digital historical record to eliminate the need for middlemen in much of our economy and give everyone access to financial tools that were once limited to the wealthy and their corporations. Social interactions that don't involve money can be built as well.
Join us. Let's build software that users control.
- Anonobread 11y agoUsers don't control cloud software.
- natrius 11y agoRules in blockchain-based software cannot change ex post facto. The only decision involved is the user's choice to use the application in the first place. These are user-controlled applications. (I've tried explaining these as applications that no one controls, but that has a wild west connotation that isn't applicable.)
- Anonobread 11y agoMy point is running all the nodes in the cloud means that the users of those nodes don't own them. > the user's choice to use the application in the first place. Right, but if none of the users can even run the so called "peer-to-peer" component, what's the difference between that and run-of-the-mill centralized DB software? Either way nobody but the chosen few can directly access the DB.
- natrius 11y agoWith blockchains, only the user has write access to the database with their cryptographic identity. Users are in full control. Users can run a node of the peer-to-peer component if they want. Anyone can. They just don't have to.
- Anonobread 11y ago> With blockchains, only the user has write access to the database with their cryptographic identity. Users are in full control. That trait is far from being unique to blockchains. But no, users aren't in full control of cloud software. > Users can run a node of the peer-to-peer component if they want. Anyone can. They just don't have to. After 18 months of block size debate, this is deja vu. No, anyone can't run a node if you make it cost $5k/mo
- nix_said 11y agoYou are clearly talking to an Ethereum investor and not a programmer. A large part of the Ethereum hype is using blockchains where they are woefully the wrong tool for the job.
- natrius 11y agoHaha, you didn't even take the effort to look at my profile. I write code. Like many Ethereum developers, I own ether. My comments apply to any EVM-based blockchain, and there will be many.
- arthur_pryor 11y ago"I've tried explaining these as applications that no one controls, but that has a wild west connotation that isn't applicable." it's also a statement that's simply not true. the parties that usually control financial and legal systems might not control it. it might be the case that no single person or single organization controls it. but to say that "no one controls" it is false. there are people whose input controls it. if that were not the case, it would not be useful.