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The Basics


 

Cardano is a decentralized blockchain platform. Uh, great but what does that actually mean? In order to explain, let's look at a real life scenario that could happen to anyone.


The Concert

It's a Friday night. You and your significant other have made plans to see your favorite artist perform live that night. When you arrive at the venue, you pull out your tickets and hand them to the security staff member scanning them. The tickets get scanned, nothing is detected on you as the wand waves across your body and you rush to find your seats. You've just settled in when you notice another couple pointing at you and talking to a different security staff member. Moments later, the staff member is in front of you asking to see your tickets. You hand them over, he peers intently at them and asks where you purchased them. You let him know that they were purchased online weeks in advance from the venue. He shakes his head and declares that the tickets are fake. No matter how much you try to convince him otherwise, he won't listen and you're escorted from the building.


You're crushed. There had been no doubt in your mind that those tickets were real! If only there were a way to prove their authenticity. Your mind races. You think to yourself, I wish someone else could have helped prove they were real. Forget just one person. Better would be two people, three, four.. four hundred even! Then you would be in the venue, listening to your favorite artist.


Cardano Blockchain Platform

Ok, yes. Having four hundred individuals verify that you purchased the tickets legitimately is never going to happen. The logistics would never work. However, let's say that when you purchased those tickets, every other person who purchased a ticket was given a copy of your receipt. Let's also say that every copy of the receipt was impossible to change. New ink would not stick, letters could not be erased, no fake copies could be made, they couldn't be cut up, burned, etc.. If that were the case, when you presented your tickets as proof of entry, there would be thousands of identical copies to prove that your tickets are genuine. If over half of the people who had a copy of the receipt had to verify the tickets, there would be no doubt of their authenticity.


If the ticket was stored on the Cardano platform when purchased, this is exactly what would be possible. The copies of the receipt wouldn't be stored in a single location. They would be stored on thousands of devices, all verifying with the others that the copy was genuine. These devices are located all over the world. They are not owned by a single entity, but by individuals or companies with no relation to each other. This is what is meant by having a decentralized (not a single owner) blockchain (picture each device as a block, all chained to the other) platform.


At Snowy, we wanted to contribute to this platform so we started our own stake pool (or block, as referenced above). Click here to learn how to stake with us and support us as we continue with our mission.


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