Chapter 09: Survey of Existing Blockchain Protocols

"Just because something doesn’t do what you planned it to do doesn’t mean it’s useless." 

Thomas Edison

“Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger

Blockchain is one of the most revolutionary technologies of the early 21st century. Blockchain is more than just technology - it has become an ideology and way of life for many people. The most beautiful thing about this technology is the explosion in innovation and new ideas to create different types of blockchains. There will never be “one chain to rule them all” despite the best efforts of some who might try. 

Anyone who thinks there is only going to be a single blockchain needs to look at every other technology and industry around them. From banking to social media, airlines, and telecoms, there are multiple large competitors in each sector. Given that bitcoin and all major cryptocurrencies have started in an open-source, decentralized manner, this has rapidly fueled many innovations and new endeavors in the space.

That said, some blockchains will be better than others; some will contribute ideas better than others. Some will only remain ideas, and others will experiment with real applications, others will be well suited to daily use. This reality is the nature of the free market.

Blockchain Protocols Vs. Blockchain Projects

To help better explain this industry and to keep from confusing people, we are differentiating between blockchain protocols and a blockchain project. Think of a blockchain protocol as an independent blockchain network that is not dependent on any other blockchain other than its own. There are only a handful of genuinely decentralized independent protocols in the world today. This chapter will mainly focus on the differences in these various protocols...

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