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This works using the bitcoin blockchain and is a great example regarding the usefulness of blockchains. I mention this because in the previous threads regardin

• throwanem 9y ago
  > This works using the bitcoin blockchain and is a great example regarding the usefulness of blockchains. Is it? I thought you didn't do anything on the bitcoin chain without value changing hands. Is there some kind of high-level overview available for those of us who are totally unfamiliar with the inner workings of blockchains, and would nonetheless like to gain a firm enough grasp to understand what Blockstack actually offers? I'd love to read such a thing, but haven't yet found it on the Blockstack site.
  • tudorconstantin 9y ago
    Indeed, in order to have something stored in the blockchain, you have to make a transaction, which incurs costs. However, reading the blockchain is free (once you exclude network traffic costs and electricity). This is an overview of how blockstack works: https://blockstack.org/docs/how-blockstack-works https://blockstack.org/docs/how-blockstack-works This is a description regarding the transaction fees on the bitcoin blockchain: https://en.bitcoin.it/wiki/Transaction_fees https://en.bitcoin.it/wiki/Transaction_fees Here are some real time stats regarding the costs/byte of info to be stored in the blockchain (in satoshis - 1 USD is approx 45k satoshis at today's BTC price)