Innovation Debit Card by Corp Cru
Corp Cru expresses the endless possibilities of the Blockchain through the Innovation Debit Card. 24″H x 42″W silkscreen acrylic on canvas.
the Blockchain has applications in every industry. As the incentive system develops as it did with Bitcoin to adopt protocols in other industries, we will witness a proliferation of Blockchain applications for every industry to the multiple extent that applications developed with the internet itself.
The Blockchain is a democratic peer to peer constellation of consensus algorithms. What? Yes. It is a digital constitution accepted and reaffirmed by the computing power contributed to it by all peers. Bitcoin “miners” receive Bitcoin for contributing computing power to the Bitcoin Blockchain. The Bitcoin miners contribute the largest amount of computing power to the Blockchain because they are the ones who are incentivized to do so. They are the ones who try to figure out each “block” every 10 or so minutes; a process known as “hashing” which requires a significant amount of computing power; power that supports the Blockchain.
50% or more of the computing power contributed to the Blockchain must consent to the solving of each block. The difficulty of solving each block is recalculated every 2,016 blocks which consequently causes a race to increase computing power in order to keep up with the difficulty rate of solving blocks.
So far, it appears to be the purest form of democracy ever constituted. It’s “sovereignty” also appears to be forming a new monetary system.
The Blockchain has forced the dusk of modern computing technology under Moore’s Law and has pushed us faster toward the precipice of Quantum Computing.