Created on March 5, 2022
More creations to inspire you
The Yap Islands
A group of four sperate Islands surronded by a common coral reef in Macronesia (Pacific Ocean).
The Yap Islands
Without speaking about money
A peer to peer network
"Decentralization or decentralisation is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group."
Decentralization is often based on a peer to peer network. Peers are equally privileged, equipotent participants in the application. They are said to form a peer-to-peer network of nodes.
A distributed ledger of data
A blockchain is a growing list of records, called blocks, that are linked together using cryptography. It is a storage and transmission of information technology without a control authority.
- If you write something on it, you cannot change it or erase it.
- Everybody knows who wrote each record.
- It is accessible to everybody and it is completely public.
Everybody participates !
Every block of information is verified by everyone. To do so, an incentive scheme chooses who adds a block.
How does it work exactly ?
Each block is linked to the next and the previous one thanks to a one-way mathematical function. The node that adds information is chosen by resolving a hard mathematical puzzle (this is call mining).
Proof of Work
Proof of Stake
Show you have solved a hard problem for which you deserve to be paid. You waste your effort if it is not rewarded.
Show you have an interest in participating. You can lose money if you lie on block information.
Every sector with a central authority
From financial to supply chain, games and energy management, etc.
The new internet
Data will be interconnected in a decentralized way, which would be a huge leap forward on our current generation of the internet (Web 2.0), where data is mostly stored in centralized repositories.
A rapidly evolving technology
Many works in progress, the technology still needs to be adopted by the public which often thinks about bitcoin when speaking about blockchains.
Thanks for you attention