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RE: 100 Steem for your thoughts on blockstack

in #blockstack5 years ago

Hi dearest friend @knircky.

It would be a kind of outproxy network (a network with its own rules but capable of also communicating with the current Internet), which bases its strength on two main elements:

The blockchain: Blockstack architecture and the way it has to associate digital identities (users, URLs, portfolios ...) with destinations (IPs, servers ...) is based on blockchain. The blockchain certifies exactly that a package has left one place X and can reach another without the intervention of intermediaries who have been able to intercept and / or modify it.

That is the user who manages his identity: In Blockstack each client has a username and encryption keys that allow him to manage his profile. Profile that would be used by all apps (websites, services ...) of Blockstack to identify us. In this way, at any time the user can delete his profile, create another or modify it so that all the apps that already had it are updated to the new identity.

Within the custom browser with Blockstack's private and distributed DNS, open source technology helps developers create decentralized and encrypted blockchain-based applications, with the same security levels that the Bitcoin network can offer. The main advantage for developers is that they do not have to manage the backend and it is not possible for users of your app to be hacked, since the storage and processing is done distributed on the nodes, without depending on a network or servers Main or centralized.

The token system is based on a utility token (STX) that is used to access the resources offered by the ecosystem to developers. To register identities, STX tokens must be available. And to establish smart contracts, native tokens must also be available. In this way, transactions established in smart contracts must be established with STX token exchange.

I hope I have contributed some knowledge with my humble presentation.

Your friend, Juan.