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RE: ugChain Giveaway #1 | WIN STEEM HERE

in #contest6 years ago (edited)

#Mine is #Bitcoin and ethereum, just new to cryptocurrency, this are my favorite and the ones am familiar with.

State of the art public Blockchain include the following example (Ripple, Bitcoin, Ethereum, Monero, Dash, Litecoin, Bitcash, Steem, Dodgecoin, etc) protocols based on Proof of Work (PoW) consensus algorithms are open source and not permissioned. Anyone can participate, without permission.
• Virtually anybody can download the code and start running a public node on their local device, validating transactions in the network, thus participating in the consensus process – the process for determining what blocks get added to the chain and what the current state is.
• Anyone in the world can send transactions through the network and expect to see them included in the blockchain if they are valid.
• Anyone can read transaction on the public block explorer. Transactions are transparent, but anonymous/pseudonumous.
• Very fast and efficient

Effects:

• Potential to disrupt current business models through disintermediation. No infrastructural costs: That is to say need to maintain servers or system admins radically reduces the costs of creating and running decentralized applications (dApps).

Thank you

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Thanks for supporting : )