Overview of major recent advances in the latest distributed ledger technology
First, for basic knowledge about blockchain, starting here: https://medium.com/@garybernstein/blockchain-bitcoin-a-very-simple-intro-to-a-very-big-deal-c7c864b45d27
There is a technological race to build the most secure and performant cryptographically-secured distributed-ledger technology (CDL) that can serve the technological needs of our high tech future — one without central points of control or failure. The current frontrunners, Blockchain and other viable CDLs (e.g. Hashgraph), will continue to deeply transform society, as CDLs can be used to run dApps without any middle men or centralized censorship or borders and other factors that slow innovation and progress. In fact, the head-spinning rate of development in the CDL field is testament to that. We’re seeing by how much just the removal of these barriers like “business hours” and various exclusion criteria. Crypto assets can be traded by all and used at all hours, forever (read: full liquidity).
Once you understand CDL, it’s hard to imaging any sustainable high tech or AI future without CDL based currencies and other assets.
Blockchain is already disrupting banking, gold, venture capital, and much more, while greatly facilitating the startup fund-raising process, and this is only the very beginning. Over 500x gains in 1–2 years or less have been had by several crypto-assets, such as Ethereum, Stratis, and others.
Ethereum and it’s competitors like NEO, EOS, etc, might even compete for who replaces contracts in general (read: application logic, law, government, voting, etc). Ethereum or example can run any program on it’s distributed network of nodes and “miners”. This means for example that an Uber dApp (distributed application) could not be censored by anyone, not even governments, without blocking vast swaths of the internet itself. Even then, it’d be a great challenge, if possible.
Bitcoin alone is already huge deal. It’s increased in value by over 2 million-fold in 7 years from it’s low point on May 2010, or $0.0025. Gold mined from the ground thus far still have 50x more value. Gold is heavy, can’t be sent electronically, can be seized, and isn’t technically even limited (unknown amounts more underground, and infinite amounts on asteroids and beyond).
As bitcoin replaces Gold, alone, as a store of transferable, non-seizable value, it may continue to climb 50x higher. As it replaces other forms of savings, it can rise 1000x higher or more, not to mention cash and other uses of money, yet.
But Ethereum, NEO, EOS, Hashgraph and other general purpose CDLs stand to disrupt reality beyond money, in the longer run. For their lofty goals, they need to deliver speed and security. Ethereum plans for speed using Casper and Plasma (blockchains within blockchains), EOS and NEO use distributed delegated proof-of-stake, for speed, and Hashgraph uses computer science “gossip about gossip” together with it’s breakthrough mathematically proven secure ABFT algorithm on it’s DAG data-structure.
Disclaimer: This is not financial advise, and I’m not your financial advisors. Always do your own research, and be careful if you risk more than you can stand to lose. This is just my opinion about our potential future.
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