The ecosystem of Blockchain technology is expanding further. When the crypto currency on Blockchain resumed in 2009, the main objective was a decentralized system that aimed to disrupt the traditional and monopolized central system.
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So, we can say that once the blockchain is the first generation blockchain of technology. Over time, the block chain undergoes a process of evolution, and with this process, several new uses and usability are developed as expansion into the centralized economy, which is supported by block chain technology.
If 2009, 1st generation block chain technology, in 2014, the birth of Etherum can be qualified as the second generation block chain technology and incorporated the intelligent contract into block chain technology.
It is a continuous process and is to enable the whole world and enterprises to put into a decentralized ecosystem in this gradual process.
Therefore, the use and implementation of the blockchain technology demands more and more things as it moves to 2017-18. For this we need a scalable block chain and this leads to the birth of a highly scalable chain like EOS. So this third generation can be characterized as a block chain.
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However, the second-generation block chain, such as Etherum, should perform better to stay in the race, and as time goes by, it should upgrade its technology and meet other various standards to keep the market on demand and should be as it should be. not be old or less competitive. Therefore, second-generation blocking chains need to perform better, scale better with a low latency, and achieve a second layer protocol that can provide a better experience of the user.
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