Why bitcoin technology is awesome:
a lesson in the linked list blockchain and decentralized authorization in 5 points.
Point 1:
The best part about Bitcoin is the blockchain technology, also known as decentralized authorization.
Point 2:
The decentralized consensus of the blockchain means that there is no single controlling, corruptible entity, to which we are all subject.
Point 3:
Risks of blockchain technology do exist. One of the primary risk issues has to do with the 50% computational power of all the users involved.
Point 4:
Block chain technology is a kind of trustless architecture which does not require reliance on a specific agent.
Point 5:
The blockchain could support not only cryptocurrencies but also other financial instruments; new voting systems; identity and reputation systems; distributed databases; and even the management of assets and resources like energy and water.
