Blockchain is about networking. That's what peer-to-peer really means. How does one have P2P networking without decentralization? Systems that claim such status would be a facade.
Dynamic Decentralized Networks
re-publicationThere's a good chance you already know this since the title does not lend itself to novice crypto users. Still, I included it because it sets the stage for dynamic, peer-to-peer networks. A blockchain can be decentralized and still lack that certain flavor of diversity we have come to enjoy with the internet.
DEVELOPING A GLOBAL BLOCKCHAIN NETWORK
Overall, the crypto space is certainly dynamic. We have long moved past the rush of the Ethereum-driven ICOs. It's a challenge just to keep up with the many different proofs that can secure a blockchain. No longer a distant dream, a global network of blockchains that would replace, or at least augment, the internet is already in the works.
Existing Cross-chain Potential
Cross-chain networking is essential for practical applications. Consider the many private and semi-private projects that leverage Hyperledger. Also consider next generation blockchains like EOS that are designed for developers. And then, there's those cryptocurrencies designed to address specific issues for industries as is a case with Ripple and its banking partners.
INTEROPERABILITY AND ITS RELATION TO DECENTRALIZED NETWORKING
Blockchain needs interoperability much more so than traditional mobile app developers ever did. While it was a splendid day when the Apple Store and Google Play decided to work together, there wasn't really a radical change. The core way that we use our mobile devices remains. Merely convenient or fanciful top layer applications became more widespread. With blockchain, interoperability becomes possible on a very profound level.
Imagine for a second you were one of the doctors in that epic scene in the movie Spies Like Us.
Two spies walk into a tent …(if you’re smiling you’re right)
...in the outback somewhere and are asked to perform surgery.
Our spies (in this story) easily get away with the caper because everyone within the tent is a doctor, as the memorable eighteen second long greetings colorfully illustrate:
Doctor, Doctor; Doctor, Doctor;.. Aand Doctor…[24x]
Oh, and the need to call upon a repeated sequence upon exiting the tent. Wonder if there are any server call redundancies that behave a bit like this...
Now, what if you happen to be a lawyer?
Lawyers and doctors famously don't get along much in the same way that jokes are made at the expense of religious leaders. Two people walk into a bar… we can interchange lawyers-doctors-religious figures so easily in some creative character expressions of darker sides. Maybe it is just this:
The logical framework of the current digital space makes it challenging to build a truly dynamic system.
REAL INTEROPERABILITY MEANS DYNAMIC NETWORKING
With blockchain, we now have a real opportunity for dynamic decentralized networking. So far I’ve examined a bit about the benefits that blockchain adds to life. For contrast, consider what blockchain removes. We no longer have the uncertainty of who is responsible for a transaction. The mystery of where information comes from can be replaced by leveraging this previously inherent weakness. Blockchain users know security of connectivity as opposed to traditional internet transactions where a seemingly endless system of servers broadly regulate data amidst uncertainty.
WHAT A DYNAMIC TRANSACTION MIGHT LOOK LIKE
Okay so, a network of blockchains might not be as simple as presented here. Let me know if I communicate a coherent thought with the following statement:
A dynamic decentralized network transaction would be multiples (in size) of that of current ledger entries for even smart contracts.
If you have an EOS or Ethereum (or Lightning Network?) account and you examine a transaction on a block explorer, you could click to open up layers of deeper details populated by smart contracts. This differs from the details on Bitcoin block explorers that record primarily currency transaction amounts.
A DYNAMIC APPROACH SERVES TO WEED OUT INEFFICIENCIES
Blockchain development and the cryptocurrency industry are racing toward interoperability. Whether it's connecting private company blockchains (e.g. for logistics) to something that involves Amazon Managed Blockchain, or a company using IBM's blockchain-as-a-service to connect to another enterprise system, interoperability between d-ledgers will radically transform how the world sees the current server-based system.
Dynamic networks that create fair exchanges might begin small. Maybe large corporations only see the value of mediation at first. Between IBM, Oracle, and Amazon there'd be Hyperledger and a growing pool of decentralized ledgers. Ethereum 2.0 developers have submitted to the need for micro transactions. Caution though, one of the mindsets that was deemed faulty in recent years was expecting a single blockchain to be an end all solution.
As the speed, reliability, and adaptability of newer, more innovative blockchains become apparent, an increasing amount of services would start making sense on decentralized networks. This would seem to become increasingly likely as the technology continues to develop and cross-chain bridges are secured.
A link to my original publication on Voice. *feel free to visit the launch post for dialingUPSpread the word and create exciting opportunities.For more information about @project.hope, fly over to the main site here and view content by other #PH authors.