A Simple Explanation of The Samecoin Ecosystem For Normal People like Joe
Let’s face it, learning about crypto can be complicated. There’s tons of info to digest, and some people can find it overwhelming. Introducing Joe—a normal guy just like you. He’s heard a bit about Crypto in the past, has seen the huge rise of coins like Bitcoin and has some interest. But Joe also leads […]
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One big factor that’s driving up adoption in the crypto space is the ability to gain complete control of your finances. This is important for people who either want total control or simply don’t like leaving their money at the hands of other institutions like brokerages. Decentralized Finance, or DeFi, is the answer for lots […]
This year I had the honor of presenting at the BIL conference in Vancouver, BC, a decentralized and open source alternative to TED. My topic, of course, was the blockchain revolution. Everything went very well, but there was one question from the audience that made me think: "Don't you think replacing humans is a bad idea," she said, referring to my explanation of decentralized autonomous organizations. "Wouldn't it be safer to have a person watching over it? What if there's a glitch?" "God, no," I replied, with a short explanation. "People suck." I didn't have enough time on stage to go....
If you still can't figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you ... We're sitting on a park bench. It's a great day. I have one apple with me, I give it to you. You now have one apple and I have zero. That was simple, right? Let's look closely at what happened: My apple was physically put into your hand. You know it happened. I was there, you were there - you touched it. We didn't need a third person there to help us make the transfer. We didn't need to pull in Uncle Tommy (who's a famous judge) to sit with us on the bench and confirm that....
The authors of the much-discussed Bitcoin Sidechains paper "Enabling Blockchain Innovations with Pegged Sidechains," released in October, have formed the company Blockstream to develop new ways to accelerate innovation in digital currencies, open assets and smart contracts. In November, Blockstream closed a $21 million seed funding round with nearly 40 investors, including well-known pioneers of the Internet and financial services sectors. The Bitcoin Sidechains paper envisages an ecosystem of "sidechains" separate from the main Bitcoin blockchain but interoperable with it. A sidechain can....
The publication of the long-awaited sidechains whitepaper last week and the Reddit AMA with its authors took the Bitcoin world by storm and generated significant enthusiasm. At the same time, the whitepaper is quite technical and not easy to understand without a careful study, and most of the questions and answers on Reddit were deeply technical as well. Now Richard Brown of IBM UK offers a simple but deep explanation of just what sidechains are, what they can be used for and why they are so awesome. After recalling how transactions on the Bitcoin blockchain work, Brown moves to what....