This project was created to establish deeper insights into the space of distributed ledger(s) such as the blockchain.
What is it?
The term ‘Distributed Ledger’ can be seen as an umbrella term for all systems allowing a server-less network for the transfer and/or recording of value transactions.
The best known distributed ledger is blockchain, that was invented to solve the general issues of creating an intermediary digital money system. The digital money created was Bitcoin.
But the technology behind Bitcoin can do much more than sending bitcoins from one to another. There are systems other than Bitcoin’s blockchain, which use different consensus algorithms. These include Ripple and Stellar, or IOTA and Hashgraph, which use a completely different approach called a directed acyclic graphs (DAGs) – a directed graph that contains no cycle.
The potential of distributed ledgers will touch many aspects of our economy, societies and politics. It is therefore important to ensure that as many as possible can understand the concepts and the limitations, especially to avoid being “sold scams”.
Rough guidelines and/or tips:
Please adhere to these standards when writing about distributed ledgers. They will be constantly updated.
- Always clearly separate facts from opinion. Facts should be sourced with a link and opinions should contain appropriate language.
- As this industry is still growing and in its infancy, ‘truths’ aren’t so readily determined – be as objective as possible and try to always find at least two different opinions on a subject.
- Every industry has its own jargon and every jargon must be explained. For example, ‘Proof of Work’ (POW) isn’t obvious, and should follow a brief description and link. There is no need to explain a jargon more than once on the same story.
- Always differ between technology and use-cases such as currencies and/or others (note, there is already a project about cryptocurrencies here).
Stories in draft
- IOTA vs the blockchain. Will this new technology replace blockchain’s transaction fees and scalability problems? – Linh Nguyen
- Timeline 2018: the future of blockchain and cryptocurrencies.
- The UK government has a good report on distributed ledgers, which can be found here.