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  1. joepie91 revised this gist Dec 26, 2017. 1 changed file with 1 addition and 1 deletion.
    2 changes: 1 addition & 1 deletion blockchain.md
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    Your blockchain must have *all* of the following properties:

    * It's a merkle tree, or a construct with equivalent properties.
    * There is no single point of trust.
    * There is no single point of trust or authority; nodes are operated by different parties.
    * Multiple 'forks' of the blockchain may exist - that is, nodes may disagree on what the full sequence of blocks looks like.
    * In the case of such a fork, there must exist a deterministic consensus algorithm of some sort to decide what the "real" blockchain looks like (ie. which fork is "correct").
    * The consensus algorithm must be executable with *only* the information contained in the blockchain (or its forks), and no external input (eg. no decisionmaking from a centralized 'trust node').
  2. joepie91 revised this gist Nov 25, 2016. 1 changed file with 1 addition and 1 deletion.
    2 changes: 1 addition & 1 deletion blockchain.md
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    Original file line number Diff line number Diff line change
    @@ -6,4 +6,4 @@ Your blockchain must have *all* of the following properties:
    * In the case of such a fork, there must exist a deterministic consensus algorithm of some sort to decide what the "real" blockchain looks like (ie. which fork is "correct").
    * The consensus algorithm must be executable with *only* the information contained in the blockchain (or its forks), and no external input (eg. no decisionmaking from a centralized 'trust node').

    If your blockchain is missing *any* of the above properties, __it is not a blockchain, it's just a ledger.__
    If your blockchain is missing *any* of the above properties, __it is not a blockchain, it is just a ledger.__
  3. joepie91 created this gist Nov 25, 2016.
    9 changes: 9 additions & 0 deletions blockchain.md
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    @@ -0,0 +1,9 @@
    Your blockchain must have *all* of the following properties:

    * It's a merkle tree, or a construct with equivalent properties.
    * There is no single point of trust.
    * Multiple 'forks' of the blockchain may exist - that is, nodes may disagree on what the full sequence of blocks looks like.
    * In the case of such a fork, there must exist a deterministic consensus algorithm of some sort to decide what the "real" blockchain looks like (ie. which fork is "correct").
    * The consensus algorithm must be executable with *only* the information contained in the blockchain (or its forks), and no external input (eg. no decisionmaking from a centralized 'trust node').

    If your blockchain is missing *any* of the above properties, __it is not a blockchain, it's just a ledger.__