In the context of data security, the immutability of data stored on blockchains is important. What do people mean when they say “Blockchains are immutable”? In this post I try to explain the key concepts.
I enjoyed listening to episode 112 of the podcast “Epicenter Bitcoin” where Casey Kuhlman, CEO of Eris Industries was interviewed. Here are my notes on parts that I found particularly interesting. Misunderstandings and paraphrasing errors are mine.
Recently over dinner, I was asked to explain bitcoin mining, and I struggled as it is entangled with a number of other concepts. Here’s my attempt at breaking it down into bite-sized pieces.
Important note: If you own more than $1,000 worth of cryptocurrency then you should definitely be using a hardware wallet instead of keeping coins on exchanges. I recommend a Trezor which you can buy for €89 directly from their website.
This article is a gentle introduction to blockchain technology and assumes minimal technical knowledge. It attempts to describe what it is rather than why should I care, which is something for a future post.
Shorter companion pieces to this are:
- So you want to use a blockchain for that? Some common misconceptions
- Confused by blockchains? Revolution vs Evolution
- No, blockchain is not a solution looking for a problem
- A gentle introduction to immutability of blockchains