What is ToyChain?
Toychain is a simple (“toy”) implementation of a blockchain. The main purpose of the implementation is to provide a simple code foundation using which people can build their understanding of what is a blockchain.
We will build a functional system that addresses a real world problem, but the focus of the implementation would not be to build a product. Rather the problem is used as a tool to ensure that we provide a complete and cohesive blockchain solution.
- The toychain will be built using Ruby
- It will implement a Proof of Work system to mediate trust.
- Additional considerations to be added…
Why we are doing it.
Toychain Problem Statement:
There needs to be a way for people to send messages to one another reliably and privately without a central authority or clearinghouse through which the message must pass. At the same time, there needs to be a way to clearly prove that these messages were sent at a later point in time and that they were not manipulated or changed after the fact.