Very good. I like your article series - I wish I would have read it when I got started, you make it really easy to understand (or at least: as easy as possible).
One small thing I noticed: you wrote "Mining is another crucial part of the blockchain technology, but it is outside the scope of this article".
I have heard many people speak about "the blockchain", implying there is only one, when in fact there are many. The most popular one is the Bitcoin blockchain, and for that chain, your statement is correct. It uses "Proof-of-work" a.k.a. mining for creating new blocks/coins.
There are other blockchains that use "Proof-of-stake", so instead of mining, new blocks are created based on stake, i.e. already owned coins, and random distribution.
Yes, you are absolutely right. Proof-of-stake is a mechanism that also requires a lot less computational power, so it could probably be used in future to help blockchains scale.
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Very good. I like your article series - I wish I would have read it when I got started, you make it really easy to understand (or at least: as easy as possible).
One small thing I noticed: you wrote "Mining is another crucial part of the blockchain technology, but it is outside the scope of this article".
I have heard many people speak about "the blockchain", implying there is only one, when in fact there are many. The most popular one is the Bitcoin blockchain, and for that chain, your statement is correct. It uses "Proof-of-work" a.k.a. mining for creating new blocks/coins.
There are other blockchains that use "Proof-of-stake", so instead of mining, new blocks are created based on stake, i.e. already owned coins, and random distribution.
Am I correct?
Yes, you are absolutely right. Proof-of-stake is a mechanism that also requires a lot less computational power, so it could probably be used in future to help blockchains scale.