What is Distributed Ledger Technology (DLT)?
A ledger is a physical or digital record of accounts and/or transactions made between two or more parties. DLT or Distributed Ledger Technology, allows for a ledger to be replicated, shared and synchronized between multiple parties without the need for a centralised authority.
Primarily through the rise of Bitcoin and other cryptocurrencies, blockchain has become synonymous with DLT. However, blockchain represents just one kind of DLT and is by no means the only, nor the most efficient, form of distributed ledger technology out there.
What is the Tangle Network?
Blockchain gave us the first glimpse of a technology that could accelerate transactions, reduce costs and eliminate the need for trust. The DAG takes over where blockchain left off.
The Tangle Network represents a new dawn for the cryptoworld. It removes the need for blocks and chains by operating on a Direct Acyclic Graph (DAG). In doing so, it becomes the first DLT network ever to support transactions without charging a fee, a feature especially valuable when making micro and nano transactions.
The Tangle is the first self-regulating distributed ledger technology and is both infinitely scalable - and unlike its predecessor, completely quantum-proof. The majority of use cases for DAG-based networks are yet to be thought of - the next generation of DLT has only just begun.
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonym under which the paper Bitcoin: A Peer-to-Peer Electronic Cash System was published in October, 2008. The paper outlined the basis for the digital currency ‘Bitcoin’, which would make transactions between any individuals, anywhere in the world, at any time, possible - without the need for trust.
The crux of the idea was spine-tinglingly significant, even symbolic. Amid the devastation of the financial crisis, Bitcoin was to be the first decentralized currency, meaning it wouldn’t be attached to a state or government, nor have a central issuing authority or regulatory body. The price would be determined by the demand for it - by the value people saw in it.
Nakamoto vanished three years after posting the paper, with the last known correspondence stating that Satoshi had ‘moved on to other things’ - but the seed was planted, Satoshi’s legacy lives on, as does the question ‘Who is Satoshi Nakamoto?’.
What is Digital Disruption?
‘Digital Disruption’ refers to transformations which have been or are being caused by the emergence of innovative digital technologies and business models. Some new technologies and business models hold the potential to impact the value of products and services currently being offered. The ability to change existing systems and the consequential need for re-evaluation are the reasons behind the dubbing of certain new digital technologies as ‘disruptive’.