The evolution of a human being to being able to understand exchanging value has its roots in the level of uncertainty. The greater the uncertainty, the less the trust in the exchange of value. The higher the certainty, the greater the exchange of value. There are various traditional challenges that blockchain tries to solve, such as trust, intermediaries, confidentiality, robustness, resilience, and availability. Let's go over them now:
- Trustless: When you deal with a centralized system, you place trust on the system and the underlying set of people and machines that are responsible for taking care of the system and its security. Your inherent trust is in the organization you are dealing with. For example, we are using an email service for many years and sometimes send important personal emails as well. We have inherent...