> For the complete documentation index, see [llms.txt](https://docs.lovincyrus.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.lovincyrus.com/notes/blockchain.md).

# Blockchain

#### Proof-of-stake (PoS)

* Tendermint
  * Instant finality (\~1-3 seconds), cannot be uncommitted/reverted

#### Proof-of-work (PoW)

* Bitcoin
  * Movement of value
  * It only gets finalized when it's deep in the chain
  * Slow finality due to non-probabilistic finality (\~10 mins)
* Ethereum
  * Smart contracts
  * Ethereum and Ethereum Classic cannot have the same validator set because fundamentally they have different philosophies
  * Cryptokitties's transactions were hogging up the Ethereum's transaction log.

#### Smart Contracts

* It should be just smart contract
* The issue comes when people create an application-based app using smart contract
* Cosmos SDK makes it really easy to write their own application

#### Application-Specific Chains

* Reduces attack surface
* Efficiency gains due less computational overhead
* Fine tune to optimize for your application 

#### Hard Spoon

{% embed url="<https://twitter.com/jaekwon/status/908580495650197505>" %}

*“A hard spoon is a meta-protocol on top of a blockchain creating a token that inherits the blockchain’s underlying token’s balances. The idea of a soft spoon would be to create two competing \*branches of a protocol\* within \*the same blockchain.\**” — Vitalik Buterin