The role of decentralized networks in a data-abundant, hyperconnected world
Humanity is producing a staggering volume of data, but the processing power of chips cannot keep pace — decentralization is the answer. When it comes to computer data storage, it can seem like we are running out of numbers. If you are old enough, you may remember when diskette storage was measured in kilobytes in the 1980s. If you are a little younger, you are probably more familiar with the thumb drives denominated in gigabytes or hard drives that hold terabytes today.Humanity’s unfathomable data footprintBut we are now producing data at an unprecedented rate. As a result, we are going to....
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In the first part of this series, we talked about how the internet allows us to create decentralized corporations, automatons that exist entirely as decentralized networks over the internet, carrying out the computations that keep them "alive" over thousands of servers. As it turns out, these networks can even maintain a Bitcoin balance, and send and receive transactions. These two capacities: the capacity to think, and the capacity to maintain capital, are in theory all that an economic agent needs to survive in the marketplace, provided that its thoughts and capital allow it to create....
Web 3.0 is one of the biggest buzzwords flying around the world of social media this year. And for good reasons, Web 3.0 innovations are on the verge of disrupting the digital world. In a world where centralized systems are making billions of dollars selling our personal information, it is no wonder decentralized systems are gaining steam. But there is one big problem. Despite hundreds of decentralized applications and thousands of developers studying Web 3.0, to date these applications have not guaranteed users data sovereignty. What is that and why is it important? Before we answer that,....
The last few years have experienced the rapid evolution of the internet and its application ranging from Web 1.0 to Web 2.0 and now Web 3.0. Web3 – the decentralized web – is the latest major iteration of the internet which promises to achieve a stable and secure decentralized network while offering a variety of innovative features. Since the inception of the world wide web in 1989, it has changed dramatically through the years. While Web 1.0 was read-only; Web 2.0 saw a significant shift towards user participation via centralized platforms such as Google, Facebook, Amazon,....
The cheap, abundant energy and open trade enabled by Bitcoin will make humanity significantly more peaceful.
Social networking has become ubiquitous throughout much of the world but introduce decentralization, and the traditional network becomes something unrecognizable. The prosaic notion of an ‘egalitarian’ social network, where each user both controls and feels their power within it, on the surface fits well with the notion of decentralized technologies – the blockchain, decentralized ledger and cryptocurrency. Although the latter has only existed in the mainstream for six years or so, in 2015 decentralized networks are already making this notion a reality. Social networks used throughout the....