Applications Within Applications, and the Internet 2.0
It’s no secret that blockchain tech is one of the hottest things in the technology space at the moment. We’ve seen how it can make established procedures more efficient and cost-effective, and protocols like Bitcoin have brought a new way to settle payments and store value…
In recent years, programs, applications, or “apps” have changed our digital experience to the point where we can literally download an app for banking, shopping, trading, and even socializing.
While Bitcoin was built mainly for payments, the blockchain can be used for much more. We are beginning to see this with protocols that use something called smart contracts or smart assets, such as Ethereum, NEM, Cardano, and the highly anticipated EOS.
By utilizing this “smart” technology, applications can be built on top of the blockchain, enabling a new Internet of Things or Internet 2.0 to be built. In time, applications could host smaller applications within themselves, similar to popular Chinese messaging app WeChat.
Since the development of second, third, and now fourth generation blockchains, the ultimate goal is to a provide a scalable network with an economic incentive for users and developers alike.
Bitcoin and Ethereum are some of the examples that show how a blockchain can become expensive and slow to use and build on if it cannot grow in its usage capabilities.
How Does EOS Work, and What is It? Find out by clicking here https://crushthestreet.com/articles/digital-currencies/2018-hold-eos-affect-ethereum
