The first-generation blockchain projects were created as alternative currency projects, secured by cryptography and able to record peer-to-peer transactions on a publicly available distributed ledger system.
Bitcoin was the first featured blockchain technology. Then came the 2nd generation blockchain projects; many of which came on stream in the early part of the present decade. These projects were basically platforms where developers could build and host their own projects, using more advanced logic and algorithms.
Ethereum is the prototype of these second-generation blockchain projects. However, both the 1st and 2nd generation blockchain projects are yet to fully harness the power of seamless interconnectivity of blockchain networks on a global scale.
The dissimilarity of blockchain projects is a major challenge with blockchain projects. For instance, a supply chain blockchain project may need to tap into one blockchain project’s protocol to deliver its enterprise solution; it will also require a different blockchain project to deliver on say, the insurance component of its project. Having to tap into numerous isolated systems to generate a solution is a problem that the 3rd generation of blockchain networks aims to solve.
For the first time ever, discrete blockchain communication is made possible by 3rd generation blockchain projects.
AION is the world’s first 3rd generation blockchain network (Blockchain 3.0) which will be capable of allowing dissimilar systems to communicate on a global scale.
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