Featured image of post Summary of the book "What is blockchain?"

Summary of the book "What is blockchain?"

Summary of the book "What is blockchain?"

Here is my summary of the book What is blockchain?

  • Blockchain principles
    • Start with the story of Changpeng Zhao - a blockchain billionaire in less than a year.

    • He created Binance in 2017 a flatform to transfer bitcoin and altcoins.

    • Network Effects

      For every user who joins a blockchain, the more valuable that blockchain becomes.

      … networks that are more open are generally more successful.

      • The sweet spot between permissioned and permissionless.


    • Eliminate the Intermediaries

      • Story of apple juice supplement. The more middleman in the process, the more price customers will pay.
      • Where do we have inefficient intermediaries? Who can we eliminate from our supply chain? “Going direct to the customer” has always been a way to save money for both producers and consumers.
      • where can we eliminate steps in our supply chain?  Where can we replace a centralized record keeper with a decentralized ledger? Where can we eliminate an intermediary? That’s where a blockchain solution is often hiding.
    • Code, Not Contracts

      • A contract is paperwork that records a transaction between two or more parties.
      • smart contract is computer code that establishes agreements between parties and then executes the transaction when certain conditions are met, without the need for a third party.
      • Still don’t understand the idea of it???
    • Forking bitcoin should be avoidable for 2 main reasons

      • You lose users
      • You are more likely to fork again


    • Four simple principles of a blockchain project: Free, Instant, Scalable, and Trusted.

    • The story of blockchain in 2017-2018 periods: Evolution vs Revolution

Built with Hugo
Theme Stack designed by Jimmy