Blockchains are all the rage. The oldest and biggest blockchain of them all is Bitcoin, which over its eight-year history so far starshipped in value from 10,000 bitcoins per pizza (before there were exchanges that priced bitcoin in traditional currencies) to over $7,000 per bitcoin today. As of this writing Bitcoin has a market capitalization of over $120 billion. Running non-stop for eight years, with almost no financial loss on the chain itself, it is now in important ways the most reliable and secure financial network in the world. Click here for a list of market cap of all Cryptocurrencies
Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
Blockchain technology is redefining the way we transact.
+ The blockchain is a secure ledger of transactions.
+ The ledger can keep track of any exchange of information or value.
+ The ledger is designed to store information in a way that makes it virtually impossible to add, remove, or change data.
+ The ledger is then verified and stored on a decentralized network that’s not controlled by any central authority.
+ Applications in use today include payments, shipping, identity management, data storage, digital music, real estate, smart contracts, and others.
Its probably essential that we all educate ourselves and get up to speed on this technology, its going to change our life more than the invention of the internet. Here are some great resources.
Do yourself a favor, budget some time for this… grab a coffee and sit down to absorb this TED Talk – by Don Tapscott “How the blockchain is changing money and business”
its my favorite
If you’re new to the subject – start here – Introduction to Bitcoin by Andreas Antonopoulos
Goldman Sachs actually has a pretty neat site on the subject – click here to visit
Then move to “How the blockchain will radically transform the economy” by Bettina Warburg
Ready to get started ? Start here….