Blockchain Innovation is the kick-off to our Cryptocurrency category. I wrote this page so that my readers would be able to understand the new virtual way to pay, stake, and invest. If you are new to this then I feel like I could give you some light on the subject. Therefore, when you want to invest you can do so with no worries.
This category will go over several different things. Cryptocurrency, Blockchain, Mining, Staking, and bitcoin. I hope you will enjoy this category. This is all fairly new to some and to others who jumped right in when it started 10 yrs ago.
Therefore, even if you understand everything about it all. I hope you will at least take away something from the info I have here for you. First, we are going to talk about Blockchain.
History of Blockchain
For example, take a look at the smartphone. These have changed our lives. Changed the way we live and how we communicate with each other. Back in the day, there were only home phones.
Smartphones, cell phones, and mobile phones are in our hands 24/7 nowadays. That was not the scene a decade ago. If you had a phone it was at work or at home. It stayed there. It was not something we could take on the go with us. Just a decade ago that is how we lived.
However, we have global nomads building brand new businesses right off their cell phones. Do you realize that cellphones have been around for nearly a decade? I remember when they first came out. I had a flip phone from Sprint.
Furthermore, we are now in another quiet revolution. This is the revolution of Blockchain. Therefore, this is so quiet that not everyone even knows about it. So a very quiet revolution.
The Year 2012
Blockchain innovation started 10 yrs ago. Computer Scientists, Cryptographers, and Mathematicians are the ones who are a group that represents over 10 years of work in the building of Blockchain. Blockchain now is in all businesses and keeps growing. I list the 5 blockchain innovations in the business era below.
Blockchain in the Business Era
Technology is transforming. Therefore, transactions are changing and transforming like crazy. Therefore, the 5 blockchain innovations are as follows. I also have added a little information about each one of them.
- The first major blockchain innovation is Bitcoin. This was a digital experiment. This experiment is now between $10 & $20 billion dollars of value. In addition, used by millions of people.
- Therefore, we have the second innovation and that is Blockchain. Blockchain is the underlying technology operating Bitcoin.
- Ethereum is the 3rd innovation. Embodied into the 2nd generation of blockchain. Ethereum is now the 2nd largest blockchain. Ethereum built little computer programs directly into the blockchain. Allowing financial institutions to have financial resources like loans and bonds.
- Now for the Fourth innovation. Proof of Stake. In 2017 Proof of Stake began. Furthermore, it did so and we are still moving forward with these systems. In addition, moving forward faster than before let me add. Miners secured the Blockchain. This gave security to payments made by the cryptocurrency exchange. Miners operate data centers giving security to exchange cryptocurrency payments.
- The Fifth and the most major blockchain innovation is Blockchain Scaling. Right now every computer in the network processes every transaction. A Scaled Blockchain accelerates the process of this without sacrificing security. Scaled Blockchains are fast. Furthermore, so quick that it can power the internet of things and it will go head to head with a major payment middleman of the world of banking. For example Visa and Swift.
There you have the 5 innovations from blockchain and a little info on each. However, remember this is a bit of history I am giving to you. So that means all this has mostly already happened. It started 10 yrs ago.
Blockchain in 2022
The year 2022 represents the now, today! Therefore, when asked or if you ask what is blockchain? My answer to you would be ” a digital ledger that records information in a way that makes it hard to hack, steal or take. Blockchain prevents changes.
However, you can add to it but never change it. Furthermore, duplication happens with digital transactions. Therefore, the duplications go across the entire network. Network refers to the network of computer systems.
Silent Revolutions
The two biggest blockchains in 2022 are Bitcoin and Eretheum. These are growing rapidly daily. Therefore, we are now able to mine, stake, invest and cash in the investments we made.
However, if you never heard about blockchain, and cryptocurrency that is an example of a silent revolution. Therefore, maybe you did hear about it, just didn’t really understand it so you didn’t pay much attention to it. This is another example.
Furthermore, maybe you heard of it. You just have no idea how it works, or how to work it. Again, that is example 3 of a Silent Revolution. Silent Revolution is when someone creates something and it’s not all understood or out for everyone to learn about. Therefore, it’s not talked about much.
However, maybe it was talked about or touched on but not too many really paid attention to it. Usually, things were not interested in or things we don’t really think will do good. We tend to just ignore or pay it no mind.
Times have Changed
To say that times have got a little weird is an understatement. Therefore, with computers, social networks, working from home online, running a business with computers, electric cars, and charging stations. Sometimes I stop and think this must be how the Jetsons really live.
Next, we will all be flying our cars in the air to go to work or have jetpacks on our backs taking us places. Life is very different in the year 2022 than it was in 2017.
In addition, new trending things are coming into the world daily. Therefore, cryptocurrency, telehealth, and so much more. I am not saying I don’t like the changes. I am just saying times are always changing and for the most, it is for the best.
However, something could really either use work or go back to the past. However, now that I have taken you back in time and talked about Blockchain. I have explained what it is and the 2 main blockchains available. I want to take a few min and discuss some terms that you will need to know when dealing with Blockchains.
Satoshi Nakamoto & Blockchain Innovation
Blockchain was started back 10 yrs ago by who we think is a man from Japan. This man or group of people is known as Satoshi Nakamoto. He is supposedly only 46yrs old and worth over 73 billion US dollars. He is known best for his invention of bitcoin, and blockchain.
In addition, his field of career falls under the categories of digital currency, computer science, and cryptography. In addition, I have to say, we are not for sure really who Satoshi Nakamoto really is. There is so much speculation that it’s crazy. Some say he is British because of a few words he used in conversation. Therefore, because he said the words “Bloody hard”. Oh, he must for sure be British if he spoke this way.
Furthermore, I literally laugh at things like this. People are so easy to judge or speculate about others. It is not right, but it happens. Life at my house is way too busy to be coming up with silly things like this. Who cares where the guy is from. Furthermore, he has money, and not living off the state.
In addition, he/her created something that we all can, have, and are benefiting from. He has built things that can build a great future if you understand what your doing. In November Satoshi Nakamoto was said to be the 15th richest person/persons in the world.
1,100,000.00 in Bitcoin
In addition, it’s also known to be true that he owns 750,000 to 1,100,00.00 in bitcoin. I say it doesn’t matter who this person is, what culture he is, and it doesn’t matter if it’s a company. What matters is that someone is very wealthy due to what started out as a silent revolution.
Therefore, it’s not that much of a problem in mind. I just wish I could have been Satoshi. I am not able to be as I am 47 and I have no idea how to speak another way other than country/cajun.
Furthermore, there is no telling what people would speculate about me. I do know that the amount of 1,100,000.00 in bitcoin is a heck of a lot of cryptos. Yes! I will take a portion if someone wants to share.
Blockchain Innovation & Popular Questions
I wanted to just take a few min and answer a few questions about Blockchain. This as well maybe a question you have as well so no harm in going over these. If nothing else it will just give you more education on the blockchain.
We all understand that blockchain is a digital ledger that records information in a specific way. This way keeps things from being hacked and stolen. The information is duplicated and nothing that goes in can come out. Info can be added but nothing changed.
In addition, you have learned that Bitcoin and Ethereum are two of the biggest Blockchains. Blockchain is growing quickly. In 2022 there were more than 10,000 active cryptocurrencies on blockchains and with several hundred more being on non-crypto currency blockchains. So we have several rapidly growing blockchains.
In addition, I want to add that when you hear someone talk about a blockchain platform what does it mean. A Blockchain platform allows users and developers to create novel uses of existing blockchain infrastructures. For example, Eretheum. Ethereum was also known as (ETH)
Terms used in Blockchain Innovation
Once you have an understanding of blockchain, and its basics of it you will need to know the terms most used when talking about blockchain. This also will help you to understand things a bit more.
Therefore, I have listed the terms and a brief description of them. Furthermore, I hope this makes your understanding more powerful.
- Encryption: Information that is in need of a password or passcode.
- Cryptocoin/Cryptocurrency: This is the same as cash money. Cryptocurrency is a means of exchange. However, in this case, it is a means of digital exchange.
- Bitcoin: A decentralized currency. No one person controls.
- Ethereum: a decentralized platform that enables the creation of “Smart Contracts”. Some say a “decentralized Supercomputer”.
- Digital Mining: Distributed consensus system (processing)
- Nodes: These are the computers that form part of the blockchain network.
There you have it for All things Blockchain. I will add more to this page and create additional pages as I learn more and get more information as well. I hope this has been able to open your eyes to the crypto world or at least the blockchain world.
Response Magic