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Discussion on: Blockchain 101 (and the protocols that use it)

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Matt Hamilton • Edited

Angie, this is a great primer. I know when I started in machine learning I was in the same situation. Every post assumed I knew the terminology, most of it statistics based (What the hell is "regression"?!). That is actually what got me into DevRel in the first place, trying to answer the question "What would I need to know as a developer new to ML?".

As for blockchains, another good one to look at is the XRP Ledger, which was the 2nd major blockchain after Bitcoin. It was designed to be "bitcoin but without the energy requirement of proof of work", and thus uses a much more efficient consensus protocol. One of the key features that the XRP Ledger brought to the field was a decentralised exchange (or "DEX") which allows you to trade one asset with another on-chain, without needing to use a centralised exchange (like Coinbase). So again, you get the benefit of no-one can tell you whether you can or can't trade.

And to go with that DEX it also was the first blockchain to allow tokenisation of other assets, e.g. USD, EUR, CNY, BTC, Gold, airline miles, art, etc. Fiat-pegged stablecoins are often referred to as "stablecoins" (as their value is stable against the fiat currency, e.g. USD or EUR). Tokenising other cryptocurrencies on another blockchain is often referred to as "wrapping" them, as some blockchains require the use of a smart contract to keep track of balances.

Put this all together and you have the basis of the "Internet of Value", the ability to universally move "money" from A to B. Regardless of the form that takes. I can pay you 100 USD but fund that payment with EUR and the XRP Ledger will automatically exchange it from one currency to another as part of the payment.

You can find more info about the XRP Ledger at xrpl.org/