Re: What does blockchain mean to you?

I found good post from Erik Anderson of Bloomberg (
https://github.com/w3c/blockchain/blob/gh-pages/use%20cases/blockchain_use_cases.md
 )


   - A ledger that generally runs in a hostile environment like the public
   internet
   - It uses cryptography to try and solve identity and ownership problems
   in this public environment
   - It uses cryptography to try and automate business processes & reduce
   latency to accelerate the value of money
   - Assets are on and managed on the ledger. Off ledger interactions are
   considered legacy, slow, and inefficient.
   - Most real use cases of this technology are theoretical discussions,
   unimplemented, without a single live use case with enough scalability,
   security, or appropriate regulatory framework in place.
   - Data on the DLT can be permissioned/private but all transactions on
   this ledger are public and all parties can see those transactions.
   - DLT is the technology not the actual asset. The asset is the
   application utilizing the DLT (Stock trades, payments, swap trade,
   currencies, bonds & coupons, etc).
   - Transactions are absolute, there is no reverting the transaction.
   Chargebacks/returns are a business process because the ledger cannot be
   reversed. You must initiate a transaction back to the originating party.
   - Current DLT Identity & Data security mechanisms is 'relatively unused'
   cryptography built for financial services in 1990's. These mathematics has
   a certain lifetime because computers and distributed calculations are
   getting faster & more efficient. The current cryptography is not resistive
   to quantum computer attacks, 5-10yr max additional lifetime, target window
   2021-2026.


2016년 10월 4일 (화) 오후 7:02, Marta Piekarska <marta@blockstream.io>님이 작성:

> Dear BlockchainCG Members,
>
> As discussed on the call we would like to have an ongoing though not
> overwhelming discussion on what we all understand through blockchain. We
> definitely need some glossary, that will help us communicate.
>
> 1) Here is a one liner provided by David:
>
>  an immutable distributed permissioned transparent ledger with scalable
> storage, computing and workflow capabilities that enables permission
> real-time interactions, configurable consensus and replaces implicit trust
> with cryptographic proofs.
>
>
> 2) Victoria proposed to start with characteristics:
> There is as yet no universally agreed definition of blockchain technology,
> but it is often described as a distributed ledger that maintains a
> continually growing list of publicly accessible records secured from
> tampering and revision.[1]  The blockchain’s key technical features include:
>
>
>
> ·       Tracking of transition from one state to another, e.g., the
> ownership status of digital currency.[2]
>
> ·       A distributed consensus mechanism, comprised of computers, called
> “nodes”, in the network that arrive at an agreement about the validity of
> transactions.[3]
>
> ·       Use of cryptographic hashes in the processing of transactions,
> which enables transparency without exposing content.
>
> ·       Packaging of transactions into blocks (from which comes the name
> “blockchain”) chained in chronological order and distributed across a
> number of different servers.[4]
>
> ·       A digital currency – i.e., a cryptographic token like Bitcoin or
> Ether – that represents actual value and is integral to the operation of
> the consensus mechanism that determines the validity of transactions.
>
>
>
> Over time, the blockchain is said to create a persistent, immutable, and
> ever-growing, public ledger that continually updates to represent the
> latest state.[5]
>
>
>
> Although the above bullets comprise the key features of blockchain
> technology, there are non-trivial variations among blockchain platforms
> (e.g., Bitcoin, Ethereum, Ripple, Litecoin, Hyperledger and others).  These
> include underlying code, consensus mechanisms, type of digital currency,
> and application layers. This makes any generalizations about the technology
> a challenging proposition.  This variety is to be expected of a technology
> that is still so new, however.
>
>
> [1] See, for example, The Economist article. Op. Cit.
>
> [2] Ethereum whitepaper
>
> [3] S. Nakamoto, 2008, October 31.  Bitcoin: A Peer-to-peer Electronic
> Cash Sytem. Retrieved March 18, 2016, from
> http://www.cryptovest.co.uk/resources/Bitcoin%20paper%20Original.pdf
>
> [4] Ethereum Whitepaper
>
> [5] Ethereal Whitepaper
>
>
> 3) I suggest that while we throw around ideas we focus on use cases,
> choose the ones we will find most interesting, and with that it will emerge
> what blockchain is for w3c.
>
> 4) Some good resources:
> https://bitcoin.org/en/developer-glossary
> http://www.blockchaintechnologies.com/blockchain-glossary
>
> 5) While we discuss I would like to differentiate between A blockchain as
> in blockchain technology, and The Blockchain as in Bitcoin Blockchain.
>
>
> I encourage you to share what is your definition of blockchain
>
> Have a great day,
> m
>
>
> —
> Security Architect @ Blockstream
>
> mp@blockstream.com
>
> +491703311307 <+49%20170%203311307> (Germany)
> +14159608938 <+1%20415-960-8938> (U.S.)
> Signal, Wickr (martap)
>
>
>