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Here's a good analogy for crypto that I think helps close the loop on people who don't seem to want to understand it. If I have a tungsten cube sitting on my t
by blhack 5y ago
Here's a good analogy for crypto that I think helps close the loop on people who don't seem to want to understand it.
If I have a tungsten cube sitting on my table, it is theoretically possible that I could track that tungsten cube backwards through time. It's sitting on my desk now, but before that it was in a box on a UPS truck, before that in a foundry somewhere, before that it was in the earth, before that the elements were in a supernova which themselves could be traced back all of the way to the origin of the universe.
So the fact of the cube sitting on my desk is really just an expression of all of the events leading to it sitting on my desk, and this isn't something that can be fabricated no matter how much authority you have (you could like, but the universe would know it as a lie).
Blockchain is that. I have some value in my wallet, but that value can be traced all of the way back through various transactions to when it was mined/minted/whatever, and actually the entirety of the various crypto ecosystem could be traced back to, literally, the genesis block.
That is a Very Big Deal. It means that the block chains are internally consistent universes of their own, with no central authority. That's a big deal for gaming, for ownership proxies (like NFTs), for currency, and for really anything else that exists within our own universe.
To say it in a somewhat flowery way: our own universe is a physical blockchain.
- qeternity 5y agoYou write this as if this is profound, or otherwise not understood by the HN audience. What you’re describing is not a blockchain. You’ve described time. Every path dependent process is not a blockchain.