Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains which are readable by the public are widely used by cryptocurrencies. Private blockchains have been proposed for business use. Some marketing of blockchains has been called "snake oil".
Blockchain Council is an authoritative group of subject experts and enthusiasts who are evangelizing the Blockchain Research and Development, Use Cases and Products and Knowledge for the better world. Blockchain council creates an environment and raise awareness among businesses, enterprises, developers, and society by educating them in the Blockchain space. We are a private de-facto organization working individually and proliferating Blockchain technology globally.
The great thing about Bitcoin, for a tech columnist like me, is that it’s simultaneously over-the-top cinematic and technically dense. Richard Branson recently hosted a “Blockchain Summit” at his private Caribbean island. There’s a Bitcoin Jet. At the same time, 2015 has seen the release of a whole slew of technically gnarly–and technically fascinating–proposals built atop the Bitcoin blockchain.
Another promise of sidechains is the ability to have a stronger and faster mainchain, as transactions can happen on one of the sidechains. If users or developers are dissatisfied with the costs of sending a transaction and the transaction speed of the mainchain, they can use and or deploy their dapp on one of the sidechains. This leads to a more diversified network and a stronger, faster and more robust mainchain.
– The transactions added to the blockchain are public: the whole world (Member of the network as non-members) can access transactions that are added to the blockchain. The information of the transactions is made public for the miners who do not know the other members, to check the conformity (for example that the person who has created a transaction holds enough bitcoins). These transactions are obviously not nominative, only your public key appears, but if someone knows your public key, he will be able to find all the transactions that you have created.
As an engineer and an entrepreneur, I truly believe blockchain technology is going to revolutionize the world. One of the biggest hurdles we need to tackle in the blockchain industry is scalability. Ethereum can only handle 15 transactions per second. I previously wrote about why that will prevent blockchain from going mainstream and how DAG could potentially be a winner.
Let's explore if there is a hybrid blockchain concept (third type). A consortium blockchain would be a mix of both the public and private. Wherein the ability to read & write could be extended to a certain number of people/nodes. This could be used by groups of organization/firms, who get together, work on developing different models by collaborating with each other. Hence, they could gain a blockchain with restricted access, work on their solutions and maintain the intellectual property rights within the consortium.
2) Yea, blockchain could be a suboptimal MQ Series, a slower append only persistent wire that has a lot of ready-made tools for audit and security analysis (ecosystem argument). As blockchain ecosystem grows all kinds of data transformation tools will appear (e.g. we are working on such). Inside blockchain could be tuned to be less PoW intensive and to cut blocks faster. Besides, the variations of PoS or a hybrid PoW + PoS scheme are emerging which could use the fact that inside, as you say, all network participants can have clear identities, unlike on the public bitcoin’s blockchain.
Bitcoin está demostrando un potencial enorme, y desarrolladores de todo el mundo quieren llevar esta tecnología aún más lejos, por ejemplo con los smart contracts turing completo o las llamadas smart property. El problema es que Bitcoin tiene un lenguaje de programación deliberadamente limitado. Además sus transacciones se confirman relativamente despacio, cada 10 minutos. Y ya por último y muy importante, su cadena de bloques está saturándose de transacciones debido a la creciente fama de Bitcoin.
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What is the difference between a public blockchain and a private blockchain? Does it matter? Which is better? Gallactic believes that currently there are pros and cons between both Private and Public Blockchains, but time and “convergence”, a term that is gaining prominence in the Blockchain Industry, is clearly showing that the lines between these categories, once clear, are starting to fade.