Blockchain represents a unique distributed database. Typical centralized databases, like Microsoft’s SQL Server, are maintained in a single location. Distributed databases are spread across a network and can be scaled to meet the needs of businesses who have to process a large amount of information.
What’s the difference between blockchain and a distributed database?
The database’s goal is to arrange data to improve how a system functions. The goal of a public blockchain is to maintain trust and form consensus with information.
What is A Common Knowledge
The idea behind common knowledge is that it’s information that is accepted by people, with the understanding that others in a group also have the same knowledge.
It might seem a bit strange in a world full of disagreements, but there’s actually a lot more ‘common knowledge’ than many think.
For example, the capital cities of each country are considered common knowledge. Or how water freezes at 32 Degrees Fahrenheit.
However, it’s important to understand that common knowledge can be different from one group, discipline, culture to another (subjective). A famous hero that’s common knowledge in one country might not be so across a border.
Blockchain and Common Knowledge
A blockchain network fits in the idea with common knowledge. Joining means a user accepts the consensus and affirms each of the nodes in the database is valid. Each transaction in a blockchain is recognized by the other nodes as valid.
What’s the common knowledge stored on the Bitcoin blockchain? It’s money. The key idea of Bitcoin was to create a public database that records transactions and shows who owns what.
What’s after Bitcoin?
A public, permissionless blockchain could go beyond storing money as common knowledge, like with Bitcoin. Nervos’ Common Knowledge Base (CKB) aims to become a location where digital assets, smart contracts, and virtual identities can be stored as common knowledge.
What’s important about common knowledge is that it is the basis of collaboration, according to game theory. People who can accurately predict another’s action or share improves confidence and lowers risk. This improves efficiency and trust across a society.
Imagine how much life would change if everyone could anticipate the moves of other people better. That’s the idea behind the dispersal of common knowledge.
Blockchain allows for common knowledge to exist between humans, humans to machines, and from machine to machine. Nervos allows for the boundaries of trust to grow exponentially as common knowledge creation becomes more efficient and spreads further.
