Decentralized Network Protocols (e.g. BitTorrent and Napsters – based on DHTs) have been around even before the advent of blockchain.

Why does one need a blockchain based protocol? For two primary reasons:

  1. Either you are against centralized consensus (and thus, drive towards Decentralized Consensus)
    and/or
  2. You need an Internal Currency (for startup fund raising, paying developers…etc.)

The reason bitcoin continues to succeed, is there are no more upcoming changes. There is no need for consensus – centralized or decentralized (on improvements to bitcoin core). There is still a consensus happening for block approval (which block gets to be on top of the chain).

Also read Blockchainable Industries

Anuj holds professional certifications in Google Cloud, AWS as well as certifications in Docker and App Performance Tools such as New Relic. He specializes in Cloud Security, Data Encryption and Container Technologies.

Initial Consultation

Anuj Varma – who has written posts on Anuj Varma, Hands-On Technology Architect, Clean Air Activist.

 Twitter Linkedin