On revolutions, the Facebook scandal and the missing piece of the Internet.

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Revolutions tend to be rather chaotic affairs. Just take the French Revolution for instance. Brutal, savage and frankly, quite poorly organised.

Technological revolutions tend to involve a little less gunpowder, and give somewhat less importance to chopping peoples’ heads off — at least in the literal sense. Their overall effect, however, can be just as inescapably significant and, well, revolutionary.

Blockchain’s potential for widespread, pervasive change is often compared to that of the Internet. In fact it’s often referred to it as ‘the New Internet’.

I won’t be burrowing into the Internet vs. blockchain debate in this post, but if you thought comparing civil revolutions to technological revolutions was in any way shallow, take a moment to appreciate the device you’re reading this on, what it represents, and how the internet has sculpted the world we live in, in just two decades. …


A technology powerful enough to disrupt society’s longest standing institutions, markets and economies.

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Photo by Charles Deluvio on Unsplash

People have always looked for ways to reduce uncertainty between one another when exchanging value. Unfortunately abstract trust is not enough to ensure an exchange will go smoothly. As trade mushroomed from an act between individuals in small communities to an intricate process involving multiple entities all over the world, we’ve had to find ways of keeping track of it all. We resorted to recording our transactions so as to reduce dependence on trust, and those records have been stored on ledgers since the days of the first trades.

Ledgers are the foundations of accounting. They are systems by which people can establish who owns what, who has what, and who owes what to whom. While the concept has remained the same, the medium used to record transactions has varied over time and through technological advances. From clay tablets to papyrus, books to computers, the goal has always been to keep records as efficiently and effectively as possible. Humans have been maintaining ledgers for thousands of years, and while the medium and methods have changed over time, one element of ledger-keeping has not. From Mesopotamia to McGladrey, a third party party has always had to register and oversee transactions and maintain accounts. This makes sense as it provides the basis for validation, and allows people conducting a trade of value to have a basis by which to trust one another. …


We’ve shifted out Medium blog to our peaq website. Nothing personal, Medium. From now on, you’ll be able to find all peaq related content here.

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A quick comparison.

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The Directed Acyclic Graph or DAG, is another form of DLT. Some consider it to be a rival technology to blockchain, others an enabler.

Both blockchains and DAGs record transactions on a distributed ledger, but do so in starkly different ways. In this week’s nakamo.to Knowledge Base article, we’ll be briefly comparing them in terms of how they work, their strengths and their weaknesses.

Structure

Blockchain is a distributed ledger or database, replicated over all the nodes in the network. This distributed ledger is forms a linear chain of blocks of transactions in an unalterable, chronological order. Transactions are bundled into blocks of transactions to be validated. …


A closer look at the distributed ledger dubbed Blockchain 3.0.

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DLT, DAO, dAPP, ASIC, PoS, P2P, PoW. Is the future of decentralised systems all alphabet soup and acronyms? It seems so. If you haven’t added ‘DAG’ to your list, you’re going to want to.

DAG DLT

Let’s start with DLT, as in ‘Distributed Ledger Technology’. This is a set of records (a ledger) that is held by multiple entities (distributed). For example, a cryptocurrency is typically a blockchain DLT using an electronic ledger of transactions held by multiple computers. When a new transaction is added to the ledger, it is copied to other computers. …


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Proof-of-Work (PoW) was the first blockchain consensus mechanism and is still arguably the most popular choice in achieving distributed consensus (the ability to trust a stranger without having to go through a third-party).

PoW is used by the likes of Bitcoin and Ethereum (for now) and several other cryptocurrencies. Strong as it may be, it comes with disadvantages like high computation requirements, high energy costs and the threat of centralisation-by-mining-pool.

Once you understand PoW and its downfalls, the need for a system like Proof-of-Stake (PoS) becomes clear.

But first — what’s a stake?


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Considered to be one of the crowning achievements of Bitcoin creator Satoshi Nakamoto, the idea for PoW was published in 1993 by Cynthia Dwork and Moni Naor. It has gone on to the foundations for several block-based networks and the consensus mechanism of choice for the majority of cryptocurrencies currently in circulation.

In short, the purpose of this consensus mechanism and others like it, is to bring us in agreement - to get us to trust one another - so we do not have to do.

How does Poof-of-Work ... work?

PoW is relatively simple. To finish a page of the blockchain ledger, a block so to speak, nodes (users) must figure out complex mathematical equations before they can validate transactions. This process is called mining, and those who take part in it are known as miners. …


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Blockchain conference, BlockShow Europe 2018 is a study identifying the top 10 European countries for a blockchain company. Switzerland is number one on the list, due to its positive regulatory dynamics and forward-thinking position on government guidelines for crypto startups. The Gibraltar and Malta round out the same dynamics and government participation in Zig's "Crypto Valley."

The study looked at 48 European countries in total, analyzing different aspects to determine which of them promoted blockchain and cryptocurrency advocacy, while also looking at the actual regulations in place for the growing blockchain sector. …


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The rise of the internet has altered the world immeasurably, making things our ancestors would have considered impossible not just viable but commonplace. We can communicate over vast distances in seconds, access all kinds of information and order, pay and have anything from a bottle of water to a semi-autonomous vehicle delivered directly to our homes, all from a handheld device.

The next wave in the digital age would seem just as baffling to our ancestors as it will be to many of us. The idea that a person can send or trade a digital representation of an asset or an idea — known as a token, to anywhere in the world, instantly, with no possibility of it being hacked or corrupted, will raise many eyebrows. …


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We're delighted to announce that we've partnered up with BlockShow , the fastest growing blockchain event series.

BlockShow is a hub for all things blockchain. They focus on bringing together the blockchain community together through engaging events all over the world. BlockShow's events involve heated debate and high-level discussion on all sorts of DLT-related topics. They bring startups, investors, founders, executives and developers together under one roof to showcase their ideas and grow their networks.

BlockShow Europe 2018 has attracted over 3000 guests, over 120 partners and over 70 globally recognized speakers. It's powered by Cointelegraph , one of the world's leading independent publications in the space, covering such topics as cryptocurrency, blockchain, decentralized applications, the internet and the next-gen web. …

About

Max Thake

Co-Founder of www.peaq.io. Fascinated by blockchain technology and its potential to shape our future.

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