Even while the mainstream continues to play catchup, the blockchain revolution is well underway, and it is changing the game for business, data science, computer science, global finance, and more.
That’s a big claim, and many people who are just hearing about blockchain for the first time have a hard time verifying it. Even as Bitcoin and the altcoins top themselves price-wise week after week, and new ICOs introduce exciting new technologies, it’s possible to keep oneself abreast of all of these changes.
Using Bitcoin savvy finance blogs to understand what’s going on in the “cryptosphere” will give you a leg up on the competition, so that you can anticipate the way our world is changing with regard to technology, communication, and money. Here are some of the best ways to keep up to date with the blockchain revolution.
Follow the Blogs. Many of the best finance blogs cover blockchain issues. Blockchain is a way to validate transaction data by making records of these transactions public, and available in thousands of sources around the world.
Using complex mathematical formulae, each transaction is validated and placed on these immutable ledgers. Because they are public, any discrepancies can be checked against each other and the fraudulent record exposed.
Blockchain bloggers note that in this way, the blockchain ledger system is taking a job away from banks, who up till this point had to validate our financial transactions in their secret ledgers.
Invest. One of the best ways to understand blockchain is to learn about the best projects and invest in their coins. Blockchain isn’t just for logging transactions. There are many other ways to store information on the blockchain.
New coins are introduced into the blockchain ecosystem every day, each one offering a new way to use blockchain storage to solve real world problems. For example, Metaverse ETP is a Chinese cryptocurrency that is storing real world assets on the blockchain. Valuable items like houses or priceless antiques are being “digitized”.
An immutable digital token is paired with the real world asset, and must be transferred anytime the asset it bought or sold. Therefore, even if a real world painting was stolen, the thief would have a hard time selling it if they did not also have the digital token. The same technology is being used to store unhackable records of Metaverse users, including name, SSN, passport, passwords, etc.
Metaverse is an example of a coin that has had 300%+ growth in the past couple of months. Crypto investing isn’t set it and forget it Betterment investing, but it is potentially more profitable.
Use the Technology. Possibly the best way to learn about the blockchain revolution in real time is to use the technologies that are being introduced. Ethereum, the world’s second biggest cryptocurrency after Bitcoin, just entered its third stage of development.
Now “smart contracts” are going to start to become common. Smart contracts are algorithms that are stored on the blockchain. They’re kind of like websites or platforms like Facebook or Reddit. They can be anything.
The only difference is that once stored, the algorithms operate by themselves, without human intervention. This way, it will be possible to create decentralized applications without CEOs, staffs, or immense server farms.
These smart contracts are already available in certain financial applications. Try them out for yourself.
As you can see, there’s a lot going on in the blockchain space, but that doesn’t mean that you should wait by the sidelines for it to develop more.
Get in now and learn about these burgeoning technologies. Not only will this get you ahead of the curve mentally, you could profit from it in your investment life.