Blocks 101 (1)

Much has been written of bitcoins and blockchains…

– some good, some bad, some very ugly.

Whatever it is or isn’t – it is complicated, and evolving rapidly.

To save you time sifting through the clay to find diamonds on your crypto educational adventure here are some  handy shortcuts….

If you want to learn about cryptocurrency & blockchain basics Coindesk has a good 101 primer here on all things Blockchain, Ethereum and Bitcoin.

Investors Andreessen Horowitz have a $300M fund for investing in blocks.

The a16z canon is here.

The Story so far…

Bitcoin was about the 98th electronic payment system to launch since the 90’s (Count’em. Paypal was intended to be a currency but ended up being an eBay money exchange…)

Bitcoin is the one that got away. In terms of the $78 trillion global economy, it’s small but growing fast. Exponentially. Some say parabolically.

With the frenzy that accompanies all good new tech (a boom is sign of either the next South Sea Bubble OR the next Internet…) the crypto economy offers a rollercoaster ride of value. We believe it will take a while for prices to settle down – but settle down it will…

Visit Coinmarketcap to see how much it’s worth today.

Fat & Thin Protocols

Bitcoin is a peer-to-peer digital currency app that runs on the blockchain protocol – this much we know. But what does that mean?

Think of a lightbulb ‘app’ running on the electricity protocol.

Lightbulbs are interesting – but (don’t tell Edison) arguably the potential of electricity is much more interesting…

Think of toasters, washing machines, televisions, ovens, heating, George Foreman Grills, Dyson hair dryers… You get the idea, it’s the gift that keeps giving.

All these are apps built on electricity.  In this metaphor blockchain is electricity and bitcoin is the first killer app; it just happens to be a currency.

What other blockchain apps are in development? Tonnes. Have a look here at State of the Dapps.

(FYI a ‘Dapp’ is a Distributed Application on the blockchain.)

This Thin-App-Fat Protocol insight is provided by USV here.


To learn more about crypto currency and blockchain ledgers in a fun, friendly, practical way  join us on one of our corporate BlockMark Ed programmes.