Blockchain Technology: The Next Big Thing

Blockchain Technology: The Next Big Thing

Most people actually think that Bitcoin is the most common digital cash in the market today. But since its invention back in 2009 things have drastica

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Most people actually think that Bitcoin is the most common digital cash in the market today. But since its invention back in 2009 things have drastically changed. Other forms of digital cash have been invented in the market as users opt for other alternatives apart from Bitcoin. One of the most common and popular digital technology in the market today as we speak is Blockchain. Despite the fact that blockchain is relatively new, and was introduced to the market years after Bitcoin was introduced, it has gained more users than Bitcoin.

Blockchain is a company that is not by any chance governed by any central body. It is a digital ledger that records and transaction made in any cryptocurrency including Bitcoin. The transactions are recorded publicly and chronologically. It is 100% safe as it is monitored by several miners who ensure that the ledgers are kept safe and transparent for users to see their transactions. Blockchain is developing to be the best as numerous humanitarians and financial markets are using them.

Blockchains are mostly used for cryptocurrencies, but it still has other uses similar to what Ethereum does. Ethereum doesn’t only focus on digital money alone, it also runs a programming code of localized applications, therefore permitting enterprise use. All the transactions made in Ethereum highly depend on security tokens known as Ether.

How Blockchain Will Be In The Near Future

A cryptocurrency development company in Hong Kong called IOHK is looking forward to launch new alternatives in blockchain research. This company was found back in 2015 by two individuals and one of them was among the founders of Ether. They are investing about $1 million in 2 different facilities for research only. Their research is going to be public and used by everyone all across and they will cover issues like smart contracts, cryptocurrecy as well as how to modernize cryptocurrecy systems.

One of the founders said in an interview that is done only by established companies like Microsoft which do their recherches at major universities. He also said that these research labs will help provide a good perspective and a better understanding of the growth of blockchain technology. They said that they have not found answers yet as they still need to do some research and write some papers.

But above all, we believe that Blockchain will be far much better than Bitcoin and now that there will be established research labs intended to study its potential, Blockchain is something to watch out for in the coming years.