There Are So Many Blockchains — Why Should I Join Yours?

What Is With Blockchain That Without Blockchain Cannot?

Behind the “internet of value” for blockchain transaction is 3 names — David Chaum (on several algorithms for secure and privacy preserving payments), Ralph Merkle (on Merkle tree), and Leslie Lamport (on Byzantine general problem). The last two did not think about this, but ‘Satoshi Nakamoto’ pieced it together built upon the illusion of failure of David Chaum, and among other things such as the hard problem of hash rates and one-way functions.

Blockchain aims to solve for disparate systems that do not trust each other to keep the same version of the same agreement. When every enterprise maintains a different set of records of the same thing, it creates mismatching, error fixing with additional costing. Moreover, these scenarios create a lot of wasteful conflicts if firms have different views and interpretations on the same transaction that creates a loophole for the bad party to exploit it. Blockchain becomes that reconciliation consensus closure.

Web3 emphasizes user sovereignty, data security, and a trustless environment (verified collaboration) where intermediaries are minimized or eliminated. This not only reduces costs but also democratizes access to services. The paradigm of DApps enables outcomes…