Ethereum Blockchain Ecosystem
Yes, I too am a victim of the cryptocraze and although making money is great, I'm slightly more interested in learning more about the blockchain ecosystem and specifically, Decentralized Apps (Dapps).
From the Top Down
Whenever I'm learning something new, I prefer to first learn it from the top-down. It helps me create falsifiable hypotheses of how something will work that I will hopefully dispell once I learn it from the bottom up –by actually making an app. Here are a few key points when it comes to cobbling together a Dapp.
Two Internets: The Internet of Information vs The Internet of Value
The Internet of Information
In chapter 3 of The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future, Kevin Kelly refers to the internet as a giant copy machine. Prior to the Blockchain, the internet's primary utility was to distribute information and one of it's core functions was to make copies with as little friction as possible. Although this copy-function is what helped make informatin viral, it also make it possible for average users to not have to pay for media such books, music and movies.
The Internet of Value
The Blockchain was never intended to help create copies. In fact, it was designed to do the complete opposite. This unique charecteristic is what most people are finally raving about. Digital information can once again have value because it cannot be copied –only moved.
In computer science speak, you can't
cp, you can only
The blockchain may be the tool copyright holders (aka musicians, film makers, authors, publishers) have been waiting for. A system that prevents consumers from copying.
Building Value: From Money to Kittens
Now that Bitcoin has proven that you can offer a monetary system in a decentralized manner, the next question worth asking today is, what other systems can we create that can provide value to digital assets. So far we have CryptoKitties, CryptoDoggies, and CryptoCelebrities. Only time will tell if any of these collectible-driven games will survive but it's incredible to see that innovators are attempting to create systems that re-introduce value back into digital media.
In the next few months, I will likely continue this journey towards creating new forms of digital value for music and more. As a starting point, the next few entries will likely revolve around how to create this value through a decentralized system using decentralized apps. Dapps.