A different take on blockchain with encrypted functions
While blockchain remains highly volatile, both as a technology and as assets tied to them, I’d like to take a step back and review the approach. What is a blockchain? It’s a linked list of events, linked together through some cryptographic hashing mechanism, that forever ties one block to another. And such a blockchain is helpful because it removes the need for a third-party to orchestrate the process. This construct is sequential in nature, and hence practically single threaded. While there are many very nice attributes tied to something which is single threaded, like the ease of reasoning on its current state, there’s also a lot of drawbacks. And while I think we’d all like to keep the benefits of having one smart contract call another, hence allowing for “DeFi Legos” and similar, it doesn’t allow us to solve for the scaling issues. ...