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16/01/2019

Beginner's guide to Blockchain

So, Blockchain…

Think 2007, the initial announcement and release of the iPhone, the phone that changed the definition of phones, to a genetically modified remote-controlled dragonfly, to futuristic cars and the humanoid robots, there was a dazzling display of pioneering inventions and technology was a testimony to it.

Then came 2009, bringing along an unarguable proof of ingenious invention – created by a person named Santoshi Nakamoto. Considered one among the most revolutionizing and significant inventions, the Blockchain. Blockchain is a distributed ledger that keeps a track of verifiable records known as ‘blocks’. Blockchain emerged as a protocol for the ‘peer-to-peer’ standalone cryptocurrency, Bitcoin.

Whilst its future is uncertain, we cannot predict the exact trajectory and impact of blockchain technology. But we also should not ignore its early stages of development and successes along with failures. Find demonstrated below an infographic which demonstrates the evolution, the pros and cons and where we could see it being adapted to in the near future?


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