When the original Bitcoin Whitepaper was released in October 2008 by Satoshi Nakamoto, Satoshi was introducing a chapter considering the proof-of-work. This proof-of-work represents a cryptographic puzzle which needs to be solved using pure computing power. Integrating this step as one of the steps too persistently write a block into the chain makes any change… Proof of What? Part I: Proof-of-Work vs. Proof-of-Stake weiterlesen
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Startup Valuation
During the lifecycle of a startup going from the initial idea, over creating the first prototype, realizing first revenues till the phase of scaling up business many startups will face financial challenges. As the most startups are not able to finance their early activities from own cashflow, they are dependent on external backing in terms… Startup Valuation weiterlesen
Understanding Blockchain Part III: Limitations of Blockchain
Despite the enthusiasm for this new technique, there are some serious limitations to the blockchain. The blockchain hands over the responsibility for integrity to the community, and as long the absolute majority are trustworthy nodes, the concept works out. there was an in- stance controlling 51 % of the nodes in the blockchain, this instance… Understanding Blockchain Part III: Limitations of Blockchain weiterlesen
Understanding Blockchain Part II: The Blockchain Idea
Most people directly associate the blockchain with Bitcoin. However, the blockchain is not as much a software as a set of technologies based on the idea of distributed systems, extended by integrity and security while keeping up transparency, publicity and its other advantages. The blockchain works as a shared ledger of transactions which are saved… Understanding Blockchain Part II: The Blockchain Idea weiterlesen
Understanding Blockchain Part I: Understanding Distributed Architecture
The idea of concurrent processes communicating directly, i.e., without a central service acting as intermediary, has its roots in the development of operating systems in the 1960s. The idea of independent communication led the technical development from early versions of Local Area Networks and finally to the largest distributed system in history, the Internet. Today,… Understanding Blockchain Part I: Understanding Distributed Architecture weiterlesen
Service Marketing Part II: Approach to structured differentiation of service
While the special features of services described in the previous chapter are to be regarded as generally valid, services can also be categorized according to their heterogeneous characteristics. In science, various approaches have been developed for this purpose, such as the transaction-related or relationship-related typology. While the transaction-related typology links the type of service (touchability)… Service Marketing Part II: Approach to structured differentiation of service weiterlesen
Service Marketing Part I: Basics
Historically, the origin of the marketing idea is closely linked to the distribution of consumer goods. In the course of the development process of this approach, there was initially no differentiation between consumer goods and services marketing. Thus, the findings from the consumer goods sector were initially transferred directly to services. With the increasing relevance… Service Marketing Part I: Basics weiterlesen