What is Blockchain: Computers That Can Make Commitments - Andreessen Horowitz

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A properly designed blockchain provides guarantees that code will continue to operate as designed. It is governed by its own code, instead of by people.

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Blockchains are computers that can make commitments. Traditional computers are ultimately controlled by people, either directly or indirectly; blockchains invert this power relationship, putting the code in charge. A properly designed blockchain provides strong guarantees that the...

Blockchains are computers that can make commitments. Traditional computers are ultimately controlled by people, either directly or indirectly; blockchains invert this power relationship, putting the code in charge. A properly designed blockchain provides strong guarantees that the code it runs will continue to operate as designed. For the first time, a computer system can be truly autonomous: self-governed, by its own code, instead of by people.

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