Token Economy

Unlike distributed databases, where data is distributed but managed and controlled by one single entity, blockchain networks allow for distributed control. Different people and institutions that do not trust each other share information without requiring a central administrator.

Bitcoin’s Proof-of-Work is groundbreaking, but it comes at a cost. While it guarantees security in an untrusted network, it is slow, energy intense, and favors those who have more economic resources to spend. This is why many researchers and developers started to explore alternative consensus mechanisms to try to tackle some of Bitcoin’s major chal... See more

Ideally, an identifier needs to be unique and persistent over time.

While the Web2 was a front-end revolution, the Web3 is a backend revolution.

The Bitcoin network and other distributed ledgers all represent a collectively maintained public infrastructure and are the backbone of the next generation Internet, what the crypto community refers to as the Web3.

The term “smart contract” itself is a bit unfortunate, since smart contracts are neither particularly smart nor do they reflect legal contracts: (i) A smart contract can only be as smart as the people coding it, taking into account all available information at the time of coding; (ii) While smart contracts might have the potential to enforce legal ... See more

If we assume that the WWW revolutionized information, and that the Web2 revolutionized interactions, the Web3 has the potential to revolutionize agreements and value exchange.