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Various findings.

File: Decentralization

Just read this post by @joelklabo and I wanted to put down some of my thoughts on the Bitcoin computer by 21, Inc. Before I decided to purchase, I was definitely skeptical. The price tag is a bit rich given the mining economics and cost of a Raspberry Pi, I was not a buyer. What [...]

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A few weeks ago, a phantom of a wallet service claimed to be organizing a stress test on the Bitcoin network by spending 20 BTC in fees over 30 hours. What they did was shine a spotlight on an often overlooked feature of Bitcoin. Stress testing is a term Bitcoin has recently borrowed from the [...]

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2015-06-19 :: David Sterry // Decentralization
Building Consensus for Bitcoin

Since first gaining public attention in 2010, Bitcoin has been attacked in numerous ways with code exploits, dust transactions, exchange hacks, Ponzi schemes, and outright theft. Bitcoin has also been attacked in the media and in our social communities. Each time, Bitcoin enthusiasts could maintain a view that all such attacks were mounted by outsiders [...]

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Technology is no stranger to debate. Emacs vs vi, Gnome vs KDE, Mac vs Windows, the list goes on and on with each having inspired debate that would rival the contents of the Library of Congress in quantity, quality and emotion. As more than one technology option became plausible people examined alternatives, made arguments, and [...]

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Ever since Gavin Andresen’s first post about increasing the block size a month ago, a debate has been raging across all Bitcoin discussion forums on whether or not to increase Bitcoin’s block size limit. Actually the debate has been going on for longer than that but the rate and temperature of discussion have been greatly [...]

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2014-12-27 :: David Sterry // Decentralization
8 Ways to Counterparty

For Bitcoin, currency is just the beginning, necessary to bootstrap the system, build mining infrastructure, secure the blockchain, and discourage spam. Recently there has been much talk of smart contracts, smart property, digital assets, and escrow, all of which benefit from the existence of a decentralized global ledger. That talk has been turned into action [...]

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2014-10-06 :: David Sterry // Decentralization
What is Counterparty?

Counterparty is a protocol for the creation and use of decentralized financial instruments using Bitcoin as a transport layer. The protocol currently supports and implements the creation of assets, issuance of tokens of those assets, payment of dividends, protocol-escrowed trading, binary bets, and contracts-for-difference. The protocol has been operating since January 2014. To enable the [...]

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