I was saying it the other day that the ways in which the next generation will apply blockchain technology will be far more interesting than what we see today. If we observe the type of developments we have these days, most of them are infrastructures that will serve as the foundation of the amazing applications we are yet to have.
Another huge percentage of the type of developments happening currently are expansions/upgrades to those infrastructures being built to serve as the foundation of the applications that we are yet to have. This is where the focus is, if the underlying technology of a product is not built to scale, the product will suffer the hiccups over time.
Different factors contribute to the ability of a Blockchain to scale, of which Upgradeability is one. Due to the immutable nature of Blockchain technology, upgrades require a Hard Fork, during Hard Forks, nodes are required to download and run the new version of the protocol. This process usually involves halting of the chain for sometime, depending on the complexity of the upgrade.
This can be detrimental to the operation of some businesses or applications built on that Chain, depending on how sensitive the application is, transitioning from one version to another should be as seamless as possible and even almost totally unnoticeable.
For example, when Ethereum was built in 2016, this cogent functionality was missing, so it is in a lot of other chains developed at the time, this is not to say that they aren’t good in themselves, but a little tweak here and there can make a huge impact.
Come 2020 and KOINOS Blockchain is built with a focus to tackle that shortcoming amongst other things. Another typical example is Binance Smart Chain (2020) taking the baton from Ethereum as it’s gas fees have become a scaling issue, and Solana, Cardano and EOS and Hive, with some with focus on decentralization and others fixing various program-abilities......
....Like the one of Polkadot Blockchain providing the ability for other existing chains to interconnect with each other but in one ecosystem so that existing chains can handshake seamlessly. That’s something interesting. Thorchain is another example I like to talk about, providing the ability for decentralized cross-chain swaps and AMM.
We will continue to experience these infrastructural developments for as long as it will take, it goes to show how early we are into this system, however if we think what we are currently experiencing in general is interesting, then we haven’t seen anything yet, technically, in revenue, in......abundance...
If what you see is all you see then you aren’t seeing all there is to see....(not my quote)
The entire crypto is about 2% of the billions of people in the world, the present infrastructures are laying the foundation of the applications that will serve each and every one of those billions, the idea of video storage on centralized ecosystems also subjects people to censorship within those platforms, deplatforming of video content creators has become a war hammer in the hands of centralized platforms.
By combining Hive with SPK network’s novel solution, we have the possibility to totally achieve full decentralization of Video storage forever. This is a huge milestone in the evolution of humanity.
The next generation will build applications from a playing field of freedom to industry leading infrastructures, tools, funding, user base and technical proficiency unlike what we’ve ever seen.
We really haven’t seen anything yet, grab some popcorn, this is a marathon not a sprint. This mega bubble year makes it even more interesting, as tokens moon, projects and ideas are liable to receive more fundings to accelerate the developments that have the potential make positive impact in the blockchain space.
The next generation might already be here. Are you ready?
Stay informed people and gear up for.....I don’t know, you tell me.
Thanks for reading...
