flywithu/Learning-Bitcoin-from-the-Command-Line
1
1
Fork 0
mirror of https://github.com/ChristopherA/Learning-Bitcoin-from-the-Command-Line.git synced 2025-10-31 10:27:29 +00:00
Code Issues Releases Wiki Activity

Update 1_0_Introducing_Bitcoin.md

Browse Source
This commit is contained in:
Shannon Appelcline 2017-04-26 16:37:30 -07:00 committed by GitHub
parent 51476c8669
commit ab6abcdfa6
1 changed files with 13 additions and 1 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

14
1_0_Introducing_Bitcoin.md
View File

@ -91,7 +91,7 @@ One way to think of blockchain is: _a linked series of blocks of non-changeable
Blockchain has becomea popular buzz-word, but it's not a magic bullet for all technical problems. With that said, blockchains do have some very specific situations where it's a superior technology. Blockchain has becomea popular buzz-word, but it's not a magic bullet for all technical problems. With that said, blockchains do have some very specific situations where it's a superior technology.
This includes when: Blockchains probably _will_ be helpful if:
* Users don't trust each other. * Users don't trust each other.
* Or: Users are across various borders. * Or: Users are across various borders.
@ -103,3 +103,15 @@ This includes when:
* Users want fast transaction finality. * Users want fast transaction finality.
* But: Users don't need instant transaction finality. * But: Users don't need instant transaction finality.
Blockchains probably _will not_ be helpful if:
* Users are trusted:
* If: transactions occur within a business or organization.
* If: transactions are overseen by a central authority.
* Secrecy is required:
* If: Information should be secret.
* If: Transactions should be secret.
* If: Transactors should be secret.
* Users need instant transaction finality, in less than an hour.
Do note that there may still be solutions for some of these situations within the Bitcoin ecosystem. For example, payment channels are rapidly addresses questions of liquidity and payment finality.