Understanding The Analogy Between Blockchain And Wikipedia
is an online encyclopedia — a platform that is free to use while it is created and maintained by the volunteers across the world. It is hosted by an american non profit organization — Wikimedia Foundation. Wikipedia has information on almost every subject one could think of!
One such topic is blockchain technology — it is a platform that is decentralized, distributed and an open-source public ledger. Blockchain is a complex technology for many to comprehend at the first go.
In this blog, we are going to help you understand the analogy between Blockchain and Wikipedia:
Wikipedia is an online encyclopedia that works on a collaborative effort of the volunteer that creates and edits the information. Even though it is hosted by an entity making it centralized; it would also be fair to say that wikipedia works in a decentralized manner. The platform enables people to voluntarily add information making the platform open and public.
Blockchain and wikipedia are two different concepts but it’s pretty much similar to its attribute — both are decentralized, open and public.