ensbot/ensbot-knopthakorn-blockchain

Blockchain intuition and practical training and repeated stuff.

Blockchain Principle

Game Theory

Economic Game Theory

• The study of mathematic models of negotication, conflic and cooperation between parties such individuals businesses, organizations, etc.
• Seek to understand why a person make particular set of dicisions, and how those decision impact other individuals.
• Engage the participant with an activity that will influence their bahavior.

Marketing Game Theory

• Addresses the icognitive, emotional, and socila aspect of an invidual.
• Includes a system of rules for participants to activate through experimentation or dicovery.
• Usually awards point or badges for levels of participation.
• Often leaderboards that encourage competition or offer prizes.

Consensus Mechanisms

• A fault-torlerent mechanism that is used in computerand blockchain systems.
• Used to achieve agreement on a single data value or a single state of .the network across distributed actors
• Useful for recordkeeping like a cryptocurrency's transaction history.

Consitency and Permanence

In both natural and algorithmic systems, consistency must be considered a corenerstone .

Bitcoin and Performance

• Block rewords in Bitcoin will continue untile the year 2140
• The creator of Bitcoin had the foresight to include an aspect of perfomance.
• Scaling debates can cause fractures in the Bitcoin community.
• Second layer solutions like payment channels will help to maintain Bitcoin's base protocol permanence.

Trust and Responsibility

• Truth being something that is in accordance with fact of reality.
• Responsibility being the moral obligation to behave correctly towards or in consideration of all potiontial ramifications by your creation.

The Basis of Truth

• The immutability of truth is grounded in math.
• How can the qualities of truth have powerful effect in the systems and society in general?
• How does the anscence of truth effect the users and the creators of systems.

Fators of Responsibility

-Does my system or business have a net negative impact on humanuty? -If so, it's not likely to be a sustainable system.

• Manay people don't consider this when designing systems.

Decentralization

Decentralization is the process of distributing and dispersing power away from a central authority. Most financial and governmental systems, which are currently in existence, are centralized, meaning that there is a single highest authority in charge of managing them, such as a central bank or state apparatus.

An exmple of decentralization:

BitTorrent

• Can't be shut down because there's no main server, just individual computers.
• Computer running BitTorrent connect together to download the files in small pieces.
• You receive parts of the file from many different peers untile the file is completed.

Scalibility

Bitcoin Mining

• The difficulty is adjusted evey 2016 blocks, or roughly every two weeks.
• Adjust the difficulty up or down based on the amount of computing power present over the previous two week period.
• Ensures that any major swings in the amount of computational power will not break the network.

Security

Bitcoin and Security

• There are billions of dollars of value stored within the Bitcoin network.
• If the security mechanisms in place weren't sound. the network would have failed long ago.
• Third party providers are the ones that have had security conpromised, like wallets, exchanges, personal servers.

Computational Power

• Ther Bitcoin network currently has roughly four exahashes of power behind it.

    kilahash is 1000 hash
    megahash is 1000000 hash
    gigahash is 1000000000 hash
  

• Riese in order of kila, mega, tera, peta, exa

Decentralization and Security

• Try not to base a system on a centralized model with a single point of failaire.
• Checks and balances between system creators and users must be present.
• Systems without these design considerations can have several loopholes and vectors to attack.
• The system should aim to provide freedom from threats and harm.

User-Friendliness

No matter how complex and robust the system, it should be simple for a user to engage with.

Compounding Principles

• Consistency ties in with user friendliness in that your system should not be crashing or behaving unpredicibly.
• An inability to be user friendly shows a lack of responsibility and security.
• Strong, sustainable systems compound the principles we've discuss on top of each other.