The internet redesigned. Back to the future. Do you want that ’95 feeling again? Dial-up on the blockchain! Mmm, mmm, no, no, no. How do we open this?
With the great debate now far behind us, coders can once more dream of a new internet that runs on the blockchain.
Ethereum, of course, remains king in that aspect and is way ahead, not least because things are actually usable there. Bitcoin Lightning Network (LN) is starting to dabble with what they call lapps (terrible name), but Bitcoin Cash (BCH) has a different take.
In the ethereum universe, dapps usually use the Inter-Planteray File System (IPFS) for decentralized storage. In Bitcoin Cash, they actually store it on the blockchain itself.
So far, nothing has really happened yet, except that we have communicated with an interface which has given us an address and a profile name that seems to be just the first six characters of the BCH address.
To do anything else, we have to send some pennies. Which we have done but appear to be lost somewhere for what now feels like a century. That’s because we’ve seemingly stumbled upon a period of no blocks for the past 30 minutes.
It should have been there somewhat instantly, but the devs apparently are struggling to scale with one of them saying:
“Memo should work with 0-conf, not sure why that didn’t work for you, it may have been the server dying under load.”
Maybe. The block explorer is showing it as unconfirmed, and considering it’s only around $2, we have to cross fingers miners do process it.
Yet even after miners did confirm it, Memo was still not showing our two dollars even once this article was finished. So we won’t cry, it’s a brand new thing, when we get this if we want to perform any write action:
We should briefly mention we’ll probably discard the keys to the above address or we’ll forget them somewhere, so don’t bother sending anything.
But to kill the time you could browse with us what’s already on BCH memo, and after clicking around a bit you’ll probably see a screen like this.
Pretty much everything you see above – minus the terrible design which tells you this was defo a coder that put it all together – is actually on the blockchain itself.
So the likes, the tips of course, but also the words, are on the blockchain itself. Look at the bottom here, for example, and see if you can spot “one day we’ll all look back at these times and smile.”
This message is now on the computer of everyone who runs a BCH node, and everyone who will ever run a BCH node, and it will be there forever or as long as anyone runs a BCH node.
It is replicated a thousand times across the current BCH nodes, and it will be replicated god knows how many more times. With it never vanishing, as long as at least one node keeps running.
That is fascinating, for like earth preserves ancient fossils, here this network preserves digital fossils for the year 3,000. Yet there are some who say this is just silly. Why do we want what can be seen as graffitis to be preserved forever?
And even if we do want to see what ancient Egyptian kids wrote on their walls, how can we truly replicate twitter scale here, while having all this data duplicated across so many nodes, while also accommodating other functionalities, such as tokenization or the movement of money.
The answer for Bitcoin Cash is: we don’t fully know, and we don’t even care; we think it could be done, so we are trying it to see whether we are right or wrong, and if we are wrong, we’ll learn and try again.
They accept they can not predict nor foresee the future. Who, for example, really foresaw bitcoin? Who thus can really foresee what breakthrough some other genius might have in line, or even, what breakthrough incremental improvements can provide.
What we know is what is currently. And what is currently is a pretty spacious bitcoin cash blockchain which can accommodate plenty of use cases, including a coder designed twitter like social network.
That makes their approach unique. And more so, it makes for the beginning of the second stage of blockchain tech. A stage where now there are things you can do, things far more exciting than just paying for a cat-shirt.
Because now, there is the beginning of a new internet. A new internet that feels like an advancement of the previous one in ethereum, that has a certain intriguing spirit in bitcoin cash, and that has a somewhat different approach in bitcoin’s Lightning Network.
That means the 90s are back and man can dream once again.