ULedger and the Future of Blockchain Technology:
Ter our previous blog posts wij have outlined the past and present of blockchain technologies, what niche they pack, and what their up and downsides are. Ter this postbode wij will concentrate on the future of the blockchain ecosystem technology stack.
Blockchain tech will spawn several fresh technology stacks. All of which will have several core principles ter common:
- They will all be content addressable. Wij expect IPLD (InterPlanetary Linked Gegevens) to emerge spil the standard te the industry.
- “Blockchains” will be seen spil a gegevens structure, not the networking part. A blockchain gegevens structure will be seen spil anything that is an MDAG (Merkelized Rechtstreeks Acyclic Graph) with a functionally defined immutability such spil PoW (Proof of Work).
- Protocol stacks will split into two types. Stateful protocols and stateless ones. The most current example of such a split is the Bitcoin network spil a stateful global consistent scheidsrechter, and the secondary layers (L2s, such spil the Lightning Network, spil the stateless transaction throughput layer. Wij can expect numerous stateful protocols to be able to interact with one another through numerous L2 networks. Wij have seen a similar evolution with TCP/IP and HTTP where stateless protocols are stacked on top of stateful ones, and vise versa.
- Public chains will be defined spil blockchains whose miners/signers are non-deterministically defined/identified. Private chains will be classified spil any Blockchains with deterministic miner/signer definability.
- Private chains will substitute what so called Oracles do today (feed blockchain-external gegevens to the blockchain) through L2s. Therefore wij can say that Public and Private chains are both here to stay and will depend on one another.
- Micropayments via L2 networks will become part of the internet infrastructure just like HTTP is today. Wij expect operating systems and routers to come pre-installed with L2 software.
- Blockchains will embark to be used for time series databases and logging infrastructure. Spil a result they will become key components for security.
- Wij will see the emergence of distributed programming language such spil Lasp which use IPLD addressable, blockchain-style ordered state to address and modify state across numerous chains.
All te all wij can say that wij are only at the very beginning of the blockchain revolution. Current use-cases being tackled by blockchain companies are mostly existing use-cases adapted for the fresh technology. Think email for mail. Future use-cases will be such that cannot exist with the current technology stack and societal/structural setting. E.g., who would have expected Ten years ago that the largest “hotel chain” won’t own any real estate (AirBnB), or that the thickest “taxi” company won’t own a single car (Uber)?
ULedger will play a foundational role te this now evolving fresh world. Private chains will require ways how to turn their gegevens structure immutable to be able to interact with other private and public chains te an independently verifiable manner. SImply versioning or merkelizing your gegevens structure is not enough, other chains have to be sure they are interacting with the only version of the chain out there.