AngelList co-founder Naval Ravikant sat down with Ethereum creator Vitalik Buterin at Disrupt SF. The topic of conversation was cryptocurrencies and blockchains. Key takeaway: Blockchains are the biggest technological breakthrough since the Internet. What is a Blockchain?
Vitalik defines it is as "a decentralized system that contains some kind of shared memory." It's a public ledger showing all the transactions of the cryptocurrency. Here's a visual demonstration.
“The internet is programmable information. The blockchain is programmable scarcity.” – Balaji Srinivasan
Blockchains are the Internet protocols for allocating scarce resources. Today, you can use all the server power you want by paying AWS. In the future, you'll use a decentralized network for digital storage where people can rent out their spare capacity in exchange for a digital token payment.
Over time, we may even see solar grids, electric grids, self-driving car grids, and other decentralized networks in the real-world that will be controlled and administered by blockchain without human intervention.
Crypto Products You Can Use Today
• Blockstack is creating a gateway to a new, decentralized internet
• Toshi is Coinbase's mobile browser for the Ethereum network
• 21.co replaces your public email with an inbox that pays you
• Lionshare: Crypto price & portfolio tracker for Mac
• Game of Coins: A virtual cryptocurrency trading game