The webapp freeradiantbunny is an open source software project dedicated to helping gardeners create garden maps and lists of plants.
The webapp freeradiantbunny is a kind of inquiring system for gardeners. The system allows us to ask questions about our gardens.
The webapp freeradiantbunny is also a kind of decision support system. We can use it to help us plan the gardens.
Now, it may be useful for the webapp freeradiantbunny to interact with the world, say with temperature sensors in the garden, seed catalogs, and with expert information in the public databases of the world.
To help us with these use-cases, we consider blockchain technologies.
As a reference baseline, check out this online.mit.edu webpage: "BLOCKCHAIN TECHNOLOGIES: BUSINESS INNOVATION AND APPLICATION"
On this blog we approach the many technologies of Bitcoin from a particular perspective, that of our garden-mapping and plant-listing webapp.
So, adopting this pragmatic perspective, here is a listing that introduces several of the main ideas that we find should be highlighted:
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Bitcoin is a peer-to-peer electronic cash system, and a revolution in Finance that began with the publishing of the bitcoin paper in 2008. |
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A peer-to-peer network of computers all using the same software reaches concensus about the current state of an immutable ledger called a blockchain. |
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The ledger is totally out in the open and can be viewed using block explorers. Owners send, receive, and view balances using software wallets. |
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In the wake of Bitcoin, was the creation of hundreds of cryptocurrencies. |
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Software code is stored on the blockchain, enabling smart contracts, A primary use-case for this technology is programmable cash. |
Here is a listing of ideas that pertain to blockchain technologies. Although there is much to learn, it may be worth it because applied blockchain technologies may create strategic business value. Consider the following:
(1) The Cambrian Explosion of applied cryptography innovation has resulted in a large number of cryptocurrencies, each with a use case and often its own ecosystem of businesss and software development. Blockchain technologies are enabling organizations to create new revenue models.
(2) Blockchain technology is disrupting many industries, especially banking and financial services. One trend is Finance Technology (FinTech) as traditional finance builds a layter of blockchain functionality. Another trend is the disruption happening due to Decentralized Finance (DeFi) applications. These DeFi apps are currently providing simple financial services such as loans on a blockchain and borrowing on a blockchain. The age of programmable money on the Internet is upon us.
Therefore, the aim of this blog is to consider how the various cryptocurrencies (especially those developing DeFi technologies) might add value to the freeradiantbunny application.
The idea is to leverage the webapp freeradiantbunny and create a knowledge management system for analyzing cryptocurrencies.
The exchange of money and currencies (stored on blockchains) is being programmed so that transactions are executed by smart contracts (which are also on blockchains). Consumers access these cryptocurrencies and financial services via web applications on their smartphones and/or desktop computers. Financial services are evolving into decentralized apps. As traditional (centralized) banking is increasingly threatened by lack of trust and the loss of confidence in the dollar, people are increasingly interested in smart contracts for alternative solutions.
These smart contracts are programmable agreements placed on the blockchain. The smart contracts are the centerpiece of a whole new class of application called decentralized applications (DApps). And the marketplace for these DApps is growing, especially on Ethereum blockchain. Measures of this growth of the DApps markets are shown by this Dapp.com 2019 Annual Dapp Market Report.
Existing DeFi DApp use cases include decentralized exchanges (example: atomic swaps) and decentralized finance functions (example: flash loans). The increase in DeFi DApps users suggests a growing market. The rankings of DeFi DApps suggests that Ethereum is currently most popular; however, many different blockchains are being developed as platforms for DeFi DApps development.
In conclusion, the freeradiantbunny application could benefit from DeFi DApp technology. We ask: How might DeFi DApp technologies add value to the freeradiantbunny application? To research this question and to explore the opportunities of blockchain technology, we next consider the skills of a Blockchain Developer in general and one who develops DeFi DApps in particular.
This blog will now consider the role of a Blockchain Developer who develops DeFi DApps. To do this, we discuss all the skills needed for blockchain develoment. Along the way, we apply this knowledge to development of demo smart contracts that enable a user of the freeradiantbunny webapp to interact with DeFi technology.
Blockchain Developer skills: