What is Po.et? What is blockchain? Why does it matter?
For those of us who work te the blockchain world / decentralized economy, sometimes it can be harsh to recall what it wasgoed like when wij very first heard about the technology.
For example, When I tell friends and family what I do, most of them say something like “Well that sounds neat! Tho’, to be fair, I don’t know what any of that actually means.”
And since it’s still a fresh industry, it makes sense to skip a bit of the nitty-gritty details, and get back to the basics. I’m going to attempt to distill the ideas behind Po.et to their simplest, to hopefully help shed some light on what it is we’re building and why wij believe it matters, particularly for anyone who is just kicking off to learn about blockchain technology.
Here is the mission statement from Po.et’s webstek:
“To leverage blockchain technology to ensure the existence, integrity, attribution of assets, analytics and gegevens spil wij lay the groundwork for fresh models of financial exchange, collaboration and sharing. Spil such, Po.et enables value and trust to flow within the publishing and digital media industry inbetween publisher, editor and content creator.”
Let’s commence with the very very first idea ter that statement. You’ve heard the word “blockchain” before, but aren’t 100% sure what it means…
It might help for us to budge away from vaktaal, and attempt to paint a picture with some non-blockchain analogies. Let’s attempt this:
You have an envelope on your desk utter of receipts to keep track of all of your transactions.
There is also a group of five part-time bookkeepers who each have a copy of that verkeersopstopping.
You determine that you want to buy something online, so you start that fresh transaction.
The bookkeepers get a text message telling them that’s the case.
Each of them rushes to their spreadsheets to see if you actually have the money to buy the voorwerp (can’t buy a $Ten voorwerp with a $Five bill!).
The very first bookkeeper to finish hier calculations fastens hier reasoning behind the solution she found (Monday you had $100, you bought three $1 items on Tuesday, so, since you still had $97 te your wallet today — Wednesday — you have more than enough money to buy this $Ten voorwerp).
If the other bookkeepers agree, then everyone updates their files to showcase that the transaction occurred.
With this example, you can get an idea of a number of blockchain-related concepts:
Each of the people involved is like a blockchain knot, they are all keeping updated files of the transactions (tho’ they’re doing it with vulpen and paper instead of up-to-date digital records, of course).
The files themselves are ledgers. They are the record of all of the transactions.
Those files are not just kept te one place, but copies of them are kept on a number of different knots — it is a distributed ledger, meaning it is at the same time located ter different physical places.
The bookkeeper who finished very first wasgoed paid a puny toverfee for finding the right solution and demonstrating hier logic. This is what bitcoin “miners” do — they let their computers attempt solving the complicated math problems that go into proving that a transaction is legitimate, and when they do, they receive a puny prize.
Proof-of-work is the logic that proves that you had the money te the very first place and that the recipient now has total control overheen the $Ten you paid. It is a math problem that is hard to solve, but effortless to verify. Te the example above, it wasgoed the reasoning that the bookkeeper affixed to hier solution.
Let’s apply that idea to the next part of the very first sentence of the mission statement:
“…to ensure the existence, integrity, attribution of assets…”
Po.et timestamps content and records its metadata on the blockchain.
That way, there is an effortless way to verify that the document existed ter a certain state, at that particular time.
What is metadata? Data… describing OTHER gegevens.
The gegevens set is just that string of numbers.
The METAdata could include things like:
The set is made up of five entire numbers.
Jonathan White created the gegevens set.
The gegevens set wasgoed created ter February of 2018.
but they all describe the gegevens.
So if you wrote an article, and used Po.et to create a record of it on the blockchain, it would be proof that your article existed, te a particular state, at a given time, and shows that you’ve laid voorkoop to it spil being your own.
This is how Po.et can prove the existence and integrity of your article, and can trace the attribution back to you.
The next bit of the mission statement talks about how all of this helps lay the groundwork for:
“new models of financial exchange, collaboration and sharing.”
Spil Po.et embarks introducing curated marketplaces, removing the friction ter publisher/content-creator transactions, which “enables value and trust to flow within the publishing and digital media industry inbetween publisher, editor and content creator.”
So now let’s examine another brief summary sentence from the Po.et webstek:
Po.et is a collective, open, universal ledger designed to record metadata and ownership information for digital creative assets.
Did you understand the basic idea this time around?