Two days of gorgeous bluebird not-a-cloud-in-the-sky riding, now a powder dump approaches…

Can’t complain :)

𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗼𝗿 𝗧𝗶𝗺𝗲𝗰𝗵𝗮𝗶𝗻?

If you’re new to #Bitcoin, you’ve likely heard of “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯”, though you may not know what it is or how it works. And if you’ve come across the term “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯”, then you may be even more confused.

Let’s sort this out👇

The prevalent term for Bitcoin’s distributed ledger is “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯”, yet the original name that Bitcoin's creator, Satoshi Nakamoto, gave it was “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯”. 𝗧𝗵𝗶𝘀 𝗳𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝘁𝗲𝗿𝗺 𝘂𝗻𝗱𝗲𝗿𝘀𝗰𝗼𝗿𝗲𝘀 𝘁𝗵𝗲 𝘀𝗲𝗾𝘂𝗲𝗻𝘁𝗶𝗮𝗹 𝗮𝗻𝗱 𝗶𝗺𝗺𝘂𝘁𝗮𝗯𝗹𝗲 𝗻𝗮𝘁𝘂𝗿𝗲 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝘄𝗶𝘁𝗵𝗶𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻, highlighting its progression through time as a one-way, irreversible system.

A blockchain/timechain is not an especially disruptive technology or a “secret sauce” that somehow makes a system decentralized. In reality, 𝗶𝘁’𝘀 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗮 𝗹𝗲𝗱𝗴𝗲𝗿 𝗸𝗲𝗽𝘁 𝗯𝘆 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝗰𝗼𝗺𝗽𝘂𝘁𝗲𝗿𝘀, which agree on each update whenever it’s time for a new “page”, or block, to be added to the ledger.

"Blockchain" has become a generic descriptor for various projects with distributed ledgers, though it's essential to recognize that 𝗻𝗼𝘁 𝗮𝗹𝗹 𝗲𝗺𝗯𝗼𝗱𝘆 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗰𝗼𝗿𝗲 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀, such as proof-of-work and decentralization. 𝘛𝘩𝘦 𝘵𝘦𝘳𝘮 "𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯" 𝘪𝘴 𝘥𝘪𝘴𝘵𝘪𝘯𝘤𝘵, 𝘳𝘦𝘧𝘦𝘳𝘳𝘪𝘯𝘨 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤𝘢𝘭𝘭𝘺 𝘵𝘰 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘢𝘯𝘥 𝘪𝘵𝘴 𝘶𝘯𝘪𝘲𝘶𝘦 𝘢𝘵𝘵𝘳𝘪𝘣𝘶𝘵𝘦𝘴 𝘵𝘩𝘢𝘵 𝘦𝘯𝘴𝘶𝘳𝘦 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺 𝘢𝘯𝘥 𝘵𝘳𝘶𝘴𝘵.

So while “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯” might dominate the discourse today, “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯” more accurately captures the essence and originality of Bitcoin, stressing the importance of its chronological, 𝘁𝗿𝘂𝗹𝘆 𝗶𝗿𝗿𝗲𝘃𝗲𝗿𝘀𝗶𝗯𝗹𝗲 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 that distinguish it from all other cryptocurrencies.

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Which term do 𝘺𝘰𝘶 prefer, “blockchain” or “timechain”?

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