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Blockstack

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Blockstack
Blockstack Logo
Original author(s)Muneeb Ali, Ryan Shea
Developer(s)Community,
Blockstack PBC.
Initial release17 February 2015
Repository
Written inPython
Engine
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Operating systemClients available for Linux, Windows, macOS
TypeDecentralized computing, Blockchain
LicenseGPLv3, MIT
Website{{#property:P856}}

Blockstack is a blockchain-based network for decentralized applications[1]. Blockstack provides protocols and software libraries for authentication, storage, and app publishing in a decentralized manner. Blockstack aims to address the centralization at the application-layer of the internet and provides decentralized alternatives to internet's domain name system and public-key infrastructure. Developers have built decentralized apps like word processors and spreadsheets[2], messaging apps[3], business productivity[4], and social networking apps amongst others, using the software.

Blockstack is often described as a new internet, separate from the traditional internet, with a focus on privacy, security, and data ownership[5][6]. Season 5 of the HBO Silicon Valley show partially based their concept of a new decentralized internet on the MaidSafe and Blockstack technologies[7], and Blockstack founders Muneeb Ali and Ryan Shea were technical advisors to the show[8].

Overview[edit | edit source]

Blockstack is being developed by a group of engineers and researchers coming from both industry and academia[9] and is released as open-source. Blockstack's blockchain name system (BNS) is the first implementation of a decentralized DNS system on top of the Bitcoin blockchain.[10] It combines DNS functionality with public key infrastructure and is primarily meant to be used by new blockchain applications. Other systems like Namecoin have implemented decentralized DNS using blockchains earlier by using blockchains other than Bitcoin. Blockstack became operational on the Bitcoin blockchain in September 2015.[11]

In May 2017, at CoinDesk's "Consensus 2017" blockchain conference in New York, Blockstack released a decentralized browser add-on,[12] described as "a kind of Netscape for the decentralized internet, running apps on a plethora of blockchains".[13] The purpose of this add-on is to allow developers to use Blockstack's tools (decentralized identity, storage, and payments) to "create consumer-facing apps". The add-on works with any browser, including Chrome, Safari, and Firefox.[12]

History[edit | edit source]

The project was started by Muneeb Ali and Ryan Shea, in 2013, who met at the Princeton University Computer Science department[14]. While Blockstack is an open-source project, Muneeb and Ryan went through Y Combinator and raised venture capital for a C-corp dedicated to supporting the development of the open-source software[15].

Blockstack Inc. raised $4 million venture capital Series A round from Union Square Ventures, Lux Capital, AngelList founder Naval Ravikant, Digital Currency Group, amongst others and Albert Wenger joined the board.[16]. In September 2017, Blockstack Inc. converted itself into a Public Benefit Corporation, switching from Blockstack Inc. to Blockstack PBC.[17]

In December 2017, Blockstack PBC raised ~$50 million from the sale of a token[18]. Winklevoss Capital, Union Square Ventures, Kevin Rose, Michael Arrington, Foundation Capital, and others participated in this token offering.[19]

See also[edit | edit source]

References[edit | edit source]

  1. Blockstack: A New Internet for Decentralized Applications (PDF)
  2. Simonite, Tom (March 5, 2018). "The Decentralized Internet Is Here, With Some Glitches". Wired.
  3. Fung, Brian (March 23, 2018). "The new technology that aspires to #DeleteFacebook for good". The Washington Post.
  4. Cuen, Leigh (July 30, 2018). "Blockstack's First Business App Wants to Help Employees Earn More Crypto". CoinDesk.
  5. Dale, Brady (September 27, 2016). "A Second Internet, Coming Soon, Courtesy of the Blockchain". Observer.
  6. Epstein, Jim (June 22, 2017). "Princeton-Trained Computer Scientists Are Building a New Internet That Brings Privacy and Property Rights to Cyberspace". Reason.
  7. Mike Judge (April 1, 2000). Mike Judge, Co-creator of HBO's Silicon Valley in conversation with Cory Doctorow (Speech). San Francisco. Retrieved July 31, 2018.
  8. Wieczner, Jen (June 8, 2018). "Meet the Blockchain Startup That Inspired HBO's 'Silicon Valley' Season 5". Fortune.
  9. Blockstack: Design and Implementation of a Global Naming System with Blockchain (PDF)
  10. Kyt Dotson (Feb 25, 2016). "Blockstack aims to make DNS more secure by building on top of the Bitcoin blockchain". Silicon Angle.
  11. Jamie Redman (September 14, 2015). "Onename Drops Namecoin, Switches to Bitcoin". Cointelegraph.
  12. 12.0 12.1 Shin, Laura (23 May 2017). "Blockstack Unveils A Browser For The Decentralized Web". Forbes. Retrieved 28 May 2017.
  13. del Castillo, Michael (23 May 2017). "Blockstack Releases Blockchain-Powered, Tokenized Internet Browser". CoinDesk. Retrieved 28 May 2017.
  14. Shin, Laura (September 5, 2017). "Blockstack On How To Take Control From Google, Facebook And Amazon". Forbes.
  15. Gilder, George (2018). Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy. Retrieved August 8, 2018.
  16. del Castillo, Michael (6 January 2017). "Bitcoin-Powered Internet Advances With $4 Million Blockstack Funding". CoinDesk. Retrieved 28 May 2017.
  17. Muneeb Ali and Ryan Shea (September 20, 2017), Announcing the Blockstack Public Benefit Corp
  18. Akhtar, Tanzeel (December 9, 2017). "Bitcoin Billionaires The Winklevoss Twins Back Blockstack Initial Coin Offering". The Street.
  19. Muneeb Ali and Ryan Shea (December 5, 2017), Blockstack’s $50M Token Sale


This article "Blockstack" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Blockstack. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.



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