Introduction to Blockchain Attributes

Blockchain Attributes
Илья Дергунов

Илья Дергунов

Автор статьи. ИТ-специалист с 20 летним стажем, автор большого количества публикаций на профильную тематику (разработка ПО, администрирование, новостные заметки). Подробнее.

Blockchain is a new technology but once you take a closer look at it, you will realize that the ingredients are pre-existing, and all that was needed was to stack them together. 

Some inventors do get offended once a new and better idea takes over their own, especially if it’s even cheaper, faster, or often free of charge; but this is part of the innovation that we have always experienced. When it comes to technology and you invent something today, it’s almost guaranteed that once it’s on the market, there are a significant amount of people already trying to copy or make it better - whatever that service or software is.

Therefore, innovation is inevitable. It is just as true when you look at physical storage for keeping data, such as music, video, or software. What happened over the years is this: the less space required the greater the quality became; in fact, most data, movie, and music, are now streamed from multiple sources; therefore, the idea that money will be streamed one day should not be surprising. I still remember when I used to buy VHS and DVDs, also cassettes and CDs. 

Also, remember when there were no mobile phones? Then, once they reached the market, I was able to make phone calls, and send text messages pretty much from anywhere, or even play the game called snake. After the introduction of the internet, I was always waiting to get home so I could access the network or I had to call someone to check weather forecast or other useful information for me when I needed it. Though, less than two decades later, I can now store hundreds of movies and music albums to my cell phone, as well capable of Skype, video calls, and access any internet page from anywhere in the world.

As you see, no one can predict what happens with technology over time. Blockchain is where the internet was back in the middle 90’s. The internet seemed a nerdy idea, and most people thought that it was all about email. Like nowadays, some people believe that Blockchain is all about Bitcoin. The reality is that e-mails might have been slow and people weren't interested in them; still, in few years, most companies have moved online and of course become even more successful by doing so and the main tool to use for both internal and external communication within the infrastructure is e-mail. Back to Blockchain innovation and its ingredients, let’s take a look at them and understand a little bit more about them.

So, let's now look at the fundamental "brick" of Blockchain technology - Peer-to-Peer Networks.

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