Cryptocurrency is an early blockchain invention that still has the market obsessed. Bitcoinwas its first real application in 2008, thanks to the mysterious Satoshi Nakamoto, and has since become synonymous with blockchain itself. The currency has gained over 500% in value this year alone, but despite its steady trajectory towards the moon, blockchain has emerged from bitcoin’s shadow entirely. Businesses are increasingly recognizing the power of the infrastructure as bitcoin’s primary contribution to the tech world, and around the globe they are using it to create revolutionary digital inventions.
However, a key function of blockchain is its support for smart contracts, which are computer contracts that use cryptocurrency, bringing the technology back to its roots. Smart contracts can understand when their conditions have been fulfilled absolutely thanks to the permanence of blockchain, and have made cryptocurrency a sort of digital tender with unique value. Not only do smart contracts make cryptocurrencies available, but they can also mirror other digital assets like stocks, bonds, commodities, ETFs, and other instruments. Achieving digital parity unlocks a new decentralized market of investors for innovators to cater to.
The system of trading assets today cannot boast such capabilities. Before blockchain, the most efficient way of serving a high volume of requests was to centralize servers and use huge arrays of hardware to handle the load. This method of handling data is obsolete due to hackers who can do system-wide damage just by entering a single “door”. Additionally, the system is stratified between geographical borders and asset classes as well. Single exchanges handle different assets, like commodities on the CBOE or stocks on the NYSE. Americans must jump through several annoying hoops to own stock in companies on the DAX, and the bureaucracy required of such a system is fraught with middlemen and fees.
Full story at http://bit.ly/2iRCAA6
Source: Huffington Post
Donation:
If you appreciate the things I share, consider making a contribution
no matter how small via PayPal or with TransferWise (EUR).
If you use Waves my wallet address is: 3PPeCnXEDAiRVzvsuGRycrNDHhWgDq68uVt
If you use Bitcoin my wallet address is: 12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ
Bitcoin QR-Code
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.