Foundations of Blockchain

Background of DLT

Ever since the invention of networking, there has been debate about the centralization and decentralization of computing architecture. We have seen interest between these two computing architecture models fluctuate over time. Mainframe architectures were used in enterprises to house great amounts of computing power, memory, and storage. They were largely centralized, and terminals without much computing power were used to connect to these machines in order to perform required operations. Then, personal computers were introduced for household usage, with enough computation power, memory, and storage to perform basic operations. This gave rise to the client-server architecture, in which clients communicate with the server ...