In the article on the upgradeability crisis, I explained how the fact that decentralized computing (i.e. “blockchain”) is still in its infancy means that early efforts did not have access to preexisting platforms or tools that developers could use to build their apps.
I'm Andrew Levine, the CEO of OpenOrchard where we are developing the Koinos blockchain.
Engineering Koinos is a group of battle-hardened blockchain developers with unrivaled experience as core developers and architects of the Bitshares and Steem blockchains, two of the most used blockchains ever. It was through our first hand experience working with some of the most performant blockchains, and their shortcomings, that we learned about the most serious problems facing the mass adoption of this technology.
Our mission is to empower people through ownership of their digital selves and blockchain is the most promising technology for accomplishing this mission. Blockchain-based applications can add value to people’s lives in an infinite variety of ways _but building such applications is far too difficult, time consuming, and expensive. _Not only that, but existing blockchain platforms make it impossible for developers to deliver pleasant user experiences.
I'm currently publishing a series of articles on Cointelegraph in which I describe what we (the OpenOrchard team) see as the three crises holding back blockchain adoption. But Hackernoon is a better place to have more technical discussions and at the end of the day, a blockchain is only as good as the developers who use it. That's why I'll be publishing companion pieces (starting with this one) to Hackernoon, the best place on the internet for developers!
If you'd like to read the first two articles published in Cointelegraph you can find them here:
In the article on the upgradeability crisis, I explained how the fact that decentralized computing (i.e. “blockchain”) is still in its infancy means that early efforts did not have access to preexisting platforms or tools that developers could use to build their apps. Instead they had to build their stack from the ground up. Because these developers were trying to solve a specific problem which that the new technology was uniquely suited for, they designed their stack as a monolith that was optimized for their specific application.
Some of those applications can be quite successful, which leads other developers to model their application designs after those early applications which appeared to be prospering at the time. The problem is that while these apps appear successful they are actually incredibly fragile, which is why it is so exceptionally rare for the applications developed in the early stage of a new computing paradigm to survive more than a few years.
The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.
If you have been following banking, investing, or cryptocurrency over the last ten years, you may be familiar with “blockchain,” the record-keeping technology behind the Bitcoin network. And there’s a good chance that it only makes so much sense. In trying to learn more about blockchain, you’ve probably encountered words like this: “blockchain is a distributed, decentralized, public ledger.” The good news is that blockchain is actually easier to understand than that definition sounds.
Can I write on a Bitcoin Blockchain? Can I drop down a message? Yes, Luca of course you can! You can leave a message on a Bitcoin blockchain using a particular op code, called OP_RETURN.
Here we discussed Blockchain technology potential and how it benefits leading industries in future.