After Blockchain started to became famous, it was something that everyone was curious about. Because the way it started was something out of the blue. When Satoshi Nakomoto ( A developer or group of developers that developed bitcoin who is/are yet to be known) came up with bitcoin back in 2008, it brought together people from technology, finance, banking to know more about what blockchain simply is. As it was a term already introduced back in 1991, a simple concept of decentralization of blocks which contains some information really made everyone want to be a part of it. The reason was the popularity gained by the bitcoin itself. However this concept of digital currency was already introduced by a scientist called Nick Szabo back in 1998.
Blockchain this time was recording the transaction of a digital currency "Bitcoin" which was rewarded for the process called as mining. Bitcoin worked on the consensus of proof-of-work where a device needed to perform complicated and time consuming computation in order to solve the problems. Bitcoin was officially the first cryptocurrency that was famous enough to get more investors to invest in this digital asset and even to be used in the Black markets. However there were more altcoins that were introduced later after bitcoin and they are the popular ones currently in the crypto world. Later came Ethereum introducing smart contracts which open up so many possibilities in the crypto world. People started developing dApps to introduce blockchain to a mass audience and investors in this ecosystem. With Smart Contracts, it was possible to perfom credible transactions without the involvement of third parties. Similar to the automation of transactions which really made sense to someone like me.
However there are many blockchain projects that are making a difference and being adopted by people. Some of them have still not been getting the attention that they deserve. But they seem to come up with more reasons and possibility of adoption by people. One of such projects which is interesting enough is ICON that was founded in 2018 and officially started their blockchain in 2019. I have also wrote my review on ICON which you can find in this link. More on blockchain there are many games, utility applications, social media platforms, blog portal like this and even browsers like brave that have started implementing blockchain and this shows the future prospects of blockchain. The concern of how information should not be centralized is one of the building blocks of blockchain and with the emerging technology, it seems logical to upgrade existing systems to blockchain for the good. What do you think about this? Please let me know in the comments below.
