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Tokenomics by Thomas Power, Sean Au

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Blockchain – the immutable database

The word "blockchain" is a term that many people use but few really understand. The reason it is hard to define is because in such a nascent space, there is no single correct definition. For example, when the internet was invented, some people may remember that it was referred to as "the World Wide Web" or "the Information Super Highway." Such terms are non-existent now and if used, are met with an almost "I know how old you are" look. The same will happen to blockchains 10 or so years down the track.

Along with there currently being no universal definition of a blockchain, there is also widespread disagreement over which qualities are essential in order to call something a blockchain.

Bitcoin was designed to ...

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