How a public cryptocurrency and blockchain function


#1

I make this to explain what is a public blockchain.

Crytocurrency is the final product of a blockchain. (Blockchain has some uniqe usecases too, but too small compared to usecases of currency. And if the cryptocurrency fail, the public blockchain will fail too.)


#2

I believe that for a start-up to be viable, they need to develop not only the currency but also implement world-changing ideas, like, speeding up payments, offering better solutions, raising money for charity and so forth, to back their coins with a solid development plan that will persuade investors.


#3

you are right. The team need do some thing make the coin better.
Not only functions like smart contract, state channel, Oracle are useful, and there are some non-tech things very important.

Transparent, fair distribution, good communication, decentralized, all these are important.


#4

We are currently in a period of blockchain development where many such experiments are being run. The only conclusions drawn so far are that we are yet to fully understand the dexterity of blockchain protocols.


#5

I do not think the blockchain has got fewer use cases. There are many projects now that use this technology as a secured database or a ledger.
What about consensus? Is that anything like proof of stake or proof of work? Have to learn more about it :frowning:


#6

Blockchain have some usecases as a ledger, but it is too small compared to currency.

Currency’s marketcap should be trillions, and ledger’s should be millions. If aeternity aim to be a ledger, the 80 million marketcap for now is too much for it.