What is a Protocol and how does it apply to Blockchain technology?

A protocol is a set of rules or operating procedures that determine how a software program should operate. There are a number of different protocols that utilise blockchain technology and over the next few posts I’ll be outlining the biggest and best currently in development. But first, let’s understand what a protocol really is….

Protocols are essentially the rules that govern software programs. If we want to use a certain program, we’ll need to follow the rules it outlines. Through outlining certain rules or parameters, different protocols produce different user outcomes. The parameters defined by a protocol can relate to a number of different variables including how secure the system is, how data is transferred between users or how long transaction take to be processed. When designing a blockchain protocol, developers decide on which rules they think will optimise their system.

How does this relate to blockchain technology?

Well, different blockchains have different protocols depending on what they’re trying to achieve. A protocol designed to support smart contracts will be different from a protocol designed for supporting digital currency. Even when a blockchain protocol has the same objective as another, it can be designed differently - there are often numerous different ways of achieving the same outcome.

In the following series I’ll be outlining some of the top protocols currently in development - What they are, what they’re used for and how they work. As always, if you have any more questions, drop me a comment and I’d be happy to help.

Written by BlockchainJames
https://www.blockchainjames.co.uk/