An Uncomplicated Explanation of What Blockchain Can Do and What It Cannot Do
This brief paper explains how the blockchain works. It examines the founding principles of blockchain, describes its properties and dispels common myths about its powers.
It is important to understand precisely what the blockchain was intended to do before attempting to extend the technology to new applications. The first-generation blockchain has limitations outside its original problem domain. Newer re-designed Distributed Ledger Technologies are emerging that are a better fit for expanded business needs.