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We don’t think much about this term these days, but in the early days of the web, it was a whole new space. Things had meaningful addresses, not unlike physical addresses. There were even references, aka links, that could connect places together. In a URL, the L stands for “location.” Everything had a place.
In physical space, everything is related to each other through referential space. Everything has a uniqueness and location with spatial orientation to everything else. Your cup is on your desk. Your pen is next to your cup. Your phone is in your pocket.
Time vs. space with the blockchain
Crypto has not taken up digital space before. Blockchains only validate WHEN something happened, not where it happens. Until now, in some sense, crypto has only existed in time. A blockchain is quite literally a timeline, a sequencing of verifiable events.
There are addresses in crypto, of course; addresses that relate to the public keys of the public-private key pairs you hold in your wallet. These relate to people, but they don’t relate much to each other.
Verifiable time and order for digital activities is a fairly recent phenomenon and is what makes blockchain so unique. It is an immutable, verifiable moment of activity like a transaction. Initially designed to make sure nobody could spend something they didn’t have, blockchains act as a timeline where everything provable has happened — perhaps similar to Loki’s Sacred Timeline in the Marvel Universe.
So if blockchain is “time,” how do we create a crypto “space”? And what could we do with crypto “spaces”?
Digital space: a home for crypto and NFTs