Confession: I still have no idea what cryptocurrency is
Or quantum computing
Or whatever the hell mimetic means
As well as all the fancy variations of the word modernism
Bite me.
(Also teach me
)
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Replying to @cosimia_
Cryptocurrencies are one application of Blockchain, a database shared and fully replicated on every participating node in a distributed network. Updates to this database have to adhere to certain rules or are rejected by each node individually.
2 replies 0 retweets 3 likes -
Replying to @PJUllrich
Instead of having a single authority (a bank) keeping track of balances, the data is open and kept by every node. If the majority of the Nodes check every transaction against the network rules then all payments will be legit and the balances will be correct at all times
1 reply 0 retweets 1 like -
Replying to @PJUllrich
As I said, cryptocurrencies are only one application of Blockchain. Add or update operations could contain any information really, from payments to property rights, supply chain tracking, or certifications. But that’s stuff for another thread
1 reply 0 retweets 1 like
I feel so knowledgeable now. Seriously, thanks for taking the time to type all that! I’m suuuper interested in supply train tracking so that got me a bit excited. One qn tho (possibly silly) how is storage managed if the database is on every node?
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