What’s in a Name? From Bitcoin to Blockchain to Distributed Ledgers

Want create site? Find Free WordPress Themes and plugins.

Nelson M Rosario is an intellectual property attorney working as an associate at Marshall, Gerstein Borun in Chicago. He has years of experience working on patent prosecution matters in bitcoin/blockchain and fintech, as well as other areas.

In this CoinDesk opinion piece, Rosario ponders why we have developed so many terms for what is effectively the same technology – bitcoin.

“What’s in a name? That which we call an electronic payment system based on cryptographic proof instead of trust by any other name would smell as sweet.”

– William ‘Satoshi’ Shakespeare (probably)

In the beginning, there was ‘bitcoin’, and it was good. But, bitcoin would end up bearing a nomenclature fruit salad that tests mortal comprehension. Perhaps, that is the natural way of things.

As a new technology develops, the number of people exposed to that new technology increases, and the language used to describe the new technology evolves.

Initially, the language was limited to bitcoin. Now a person is liable to see any of the following words or phrases that theoretically all mean different things: bitcoin, Bitcoin, block chain, blockchain, Blockchain, private blockchain, public blockchain, distributed ledger technology, distributed asset ledgers, decentralized ledger technology, shared ledgers, et al.

Further

Read more ... source: CoinDesk

Let's block ads! (Why?)

Powered by Bitcoin Central

Did you find apk for android? You can find new Free Android Games and apps.