#cryptoeconomics is THE revolution !
▻https://hackernoon.com/cryptoeconomics-is-the-revolution-6fd7de8e7da0?source=rss----3a8144eabfe
Most of the mechanisms used in a blockchain network existed before Satoshi’s whitepaper. Peer to peer network, Cryptographic Hashing, Asymmetric key encryption, Merkle Tree, for instance, have been well known for a long time. The true revolution brought about by the Bitcoin in 2009 is cryptoeconomics and it is paramount to understand it if you want to grasp the real value of the blockchain revolution.The purpose of cryptoeconomics is to build strong protocols that will be able to govern and securely develop peer-to-peer decentralized networks.Peer to peer networks exist for some time. “Torrents” for instance, that many people used to share folder online, are peer to peer networks. However, they lake efficiency because members are happy to download content, but have no interests in (...)
#blockchain-technology #cryptography #consensus #cryptocurrency-news