Mick de Graaf
BUIDLER, CRYPTO ANARCHIST AND MORE!
Why we need blockchain
Blockchain basics
POW
DPOS
(SHORT)
- Mutable
- Prone to censorship
- Not transparant
Chores
Clean bathroom - Vitalik
Clean livingroom - Dan
Clean kitchen - Elon
✔
✔
✔
Listkeeper: Elon
Chores
Clean bathroom - Vitalik
Clean livingroom - Dan
Clean kitchen - Elon
✔
✔
✔
Elon Cheated!
Chores
Clean bathroom - Vitalik
Clean livingroom - Dan
Clean kitchen - Elon
✔
✔
Chores
Clean bathroom - Vitalik
Clean livingroom - Dan
Clean kitchen - Elon
✔
✔
✔
Chores
Clean bathroom - Vitalik
Clean livingroom - Dan
Clean kitchen - Elon
✔
✔
Dan
Vitalik
Elon
x
x
Elon loses reputation
block 0
Hash: 0x8872
Previous: 0x0000
block 1
Hash: 0x1435
Previous: 0x8872
block 2
Hash: 0x9073
Previous: 0x1435
Mick
sha256
2F4...898
Andres
sha256
F34...D1E
sha256
232...E53
Jana
It only works in one way!
Blockhash
Previous blockhash
Merkle Root
Nonce
Timestamp
(In bitcoin)
hash0
hash1
tx0
tx1
tx2
tx3
A blockhash needs to be below a certain point
Blockhash
Previous blockhash
Merkle Root
Nonce
Timestamp
(In bitcoin)
hash0
hash1
tx0
tx1
tx2
tx3
This we can influence
Proven technology
Anybody can join mining
Secure
Energy usage
Slow
Hardware investments
Only large networks are secure
LISK, EOS, PEPCHAIN and Others
Validator #1
Validator #2
Validator #3
Validators need to wait for their turn
Fast
Great for small networks
Low energy usage
Anyone can vote
Risk of collusion
Rich get richer
Initial distribution is hard