E25: Blockchain Basics: Mechanics, Flaws, And Applications from Random Talkers

Random Talkers

Adam Walker

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E25: Blockchain Basics: Mechanics, Flaws, And Applications

35 minutes Posted Apr 27, 2018 at 2:45 pm.

The blockchain is a plain old transaction ledger...

...but with no central authority

To write to it you must solve math problems

Transactions are verified using cryptography

Distributed consensus enables consistency

51 Percent Attacks

Excessive power consumption

Dependence on private keys

Transactions can't be reversed

The blockchain is so slooooooooow

Money transfers

Disintermediation and eliminating middle-men

Smart contracts

Corporations and the private, permissioned blockchain

Blockchain and the shipping industry

Tokens and incentivizing network effects

DISRUPTION (may be a few years away)

Expect incumbents to fight back

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This week we review "Blockchain Basics: A Non-Technical Introduction in 25 Steps" by Daniel Drescher. Blockchain hype may have waned, but we're still aboard the blocktrain destined for untold crypto riches. Look below for timestamps:

Part 1: How The Blockchain Works

Part 2: Blockchain Flaws and Exploits

Part 3: Blockchain Applications

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