I had never actually understood the importance of Bitcoin before I read this. Really well made:
We’re sitting on a park bench. It’s a great day.
I have one apple with me. I give it to you.
You now have one apple and I have zero.
That was simple, right?
Source: Explain Bitcoin Like I’m Five
My favorite unpopular blockchain ideas: 99% of corporate experiments regarding blockchains are better handled with Apache Kafka and multiple archivers. Anything that attempts to be a fast, global ledger has to accept the reality that global ordering is a limitation, not a feature, and instead use logical clocks. The intersection between blockchain enthusiast and distributed system researchers is close to zero. When we look back 100 years, Bitcoin itself will be seen as far more relevant in retrospect than blockchain technologies.
The project represented a breakthrough in using software code to authenticate and protect transactions without resorting to a centralized bank or government treasury. In that way, Bitcoin became a peer-to-peer system. That comes in pretty handy for people who do not want their transactions monitored. In conversations about the project with scholars who study it, the word that comes up as often as “bubble” is “genius.”
A thorough look at Bitcoin, the peer-to-peer currency you can’t track.