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The size of the bitcoin market may still be microscopic when contrasted with other global markets, but that hasn’t stopped the eight-year-old cryptocurrency, as well as the surrounding blockchain ecosystem, from evolving.
The blockchain, which is the technological infrastructure behind how Bitcoin transactions work, is now much more heralded in many circles than the original cryptocurrency itself. That’s because it is now clear how the blockchain can be further applied to many other disciplines, including payments, trading assets digitally, identity management, data verification, and smart contracts.
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