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As an internet technologist, practicing in building important internet infrastructure for over 30 years, I try to explain the basics to people away from all of the dismissive narratives.
Blockchain networks are new internet operating systems; most of these networks provide a means to store data, conduct transactions on data, and execute code that can execute these transactions. They are special because they can do this and ensure that the data and code is tamper-resistant, incontrovertible, publicly verifiable, etc.
Most importantly, these networks are designed to be decentralized, providing a surface for society to engage and transact without interference, and in a direct and efficient manner, no matter the person, entity or location. This super powerful stuff for all manner of applications. 1 reply
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Anyway, this is the super basics, and has always been (for most practicing in this field) the goal for the past 10+ years. So when I say:
“Public blockchain infrastructure has evolved into its 3rd generation, providing global scale network computers that can handle large scale applications with trusted data, transactions and compute.”
What I’m really saying is that we are now in a place where these new internet operating systems can support apps and services that work at scale, handling millions of users, and fulfilling the promise that we all have been chasing for the past decade.
The first generation was Bitcoin and related forks, the second generation was Ethereum and related / similar attempts in the 2015-2020 epoch, and the 3rd generation includes Ethereum 2.0, Solana, Layer 2’s and scalable EVM chains (Avax, Near, etc.) new platforms like Aptos, Sui, Monad, etc. (Please don’t get upset at me if I didn’t list a particular project). 1 reply
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