bjaanes
Joined 10 years ago
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219
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Member since
Sep 19
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Comment · 9 years ago
I completely understand that. I answered more or less the same question on Reddit yesterday and I hope it can bring some value here too:
In the same way that Bitcoin allows people to send money to each other without having to trust the other person, you can do computation without having to trust a centralized party to do that computation. And it doesn't have to be "computing" in the way you might think about it; it can be tracking, storing and securing information (generally a hash of that information) with some logic around it (who can append, payments, vote on things, etc.).
I wrote a blog post about some potential use cases. Most of which are realized only with smart contracts. Some are pretty "out there," but in the end it up to the innovators of the world to decide what we can or cannot do with this.
http://www.gjermundbjaanes.com/the-blockchain-innovation-par...
Comment · 9 years ago
Yes, technically true. You can do some stuff there, but it is somewhat limited. I said I was simplifying some details, this is one of them. It only adds to the confusion. I don't think many people use it. At least not for any really complex use cases (I may be wrong, but that is the extent of my knowledge).
Looking at this I don't see how it can do too much interesting stuff: https://en.bitcoin.it/wiki/Script
Comment · 10 years ago
Thank you!
The implementation of hot spots in the app is something I almost pulled out. I think there are better ways of doing it. You are right though, I should have at least explained it :) Thank you!
Edit: I added a small section on Hot Spots on the blog (also used the link you so kindly found).
Blog: http://gjermundbjaanes.com