This article talks about the journey of cryptocurrencies and their potential.
Blockchain and Cryptocurrency have traveled an uncertain path to worldwide popularity. Many people are showing interest in the blockchain development even if they are not investing in cryptocurrencies.
1st phase
The US subprime mortgage crisis was a banking emergency that affected the world economy. To prevent any such kind of event from happening again, Mr. Satoshi Nakamoto (real name not known) created a decentralized virtual currency called Bitcoin. And bitcoin is backed by blockchain technology which is transparent, unalterable, and eliminated from third parties like bank, government and any financial institution from the transaction process.
Initially, it served as a payment medium. This publicly verifiable virtual money gradually became popular among the IT developers. Eventually, innovation of other new cryptocurrency started flowing which helped to engage a broader audience.
2nd Phase
Vitalik Buterin (Russian-Canadian programmer) came up with wider use of blockchain technology which is commonly known as Smart Contracts. And the platform is Ethereum. Certainly, Ethereum is more than just a coin. The IT intellectuals started reviewing the potential of this distributed ledger technology. Ethereum revolutionized and decentralized the internet. Thus, Decentralized Apps (DApps), Decentralized Autonomous Organizations (DAOs) came into being.
The developers from different parts of the world started experimenting to launch their own tokens and raise money from the public with ICO (Initial Coin Offerings).
Five Tips to Launch a Successful ICO
3rd Phase
Scalable and practical, the 3rd phase of Blockchain technology is in its infancy. It's been predicted that in 2019-2020, there will be a blockchain of blockchains with millions of transactions per second. It will be enormous that includes organizational structures like cities and connected to the other bodies.
Cryptocurrencies have made a dramatic leap in terms of innovation and adoption in past few years. The tokenization of many businesses across different industries will open a wide opportunity for economic growth.
We at Sphinx Solutions, are working on Blockchain App Development and ICO services. Our experienced developers are thoroughly acquainted with the full development stack. You can rely on us for scalable Cryptocurrency Wallet, Hyperledger, Bitcoin apps & private blockchain development services.
To stay active in the current era of technology advancements, it is very necessary to stay updated with the updates that are arriving in the market. As SARA Technologies we have upgraded our skills and implemented blockchain technology in our development process. After being a blockchain development company, since from the last 4 years we have made hundreds of clients available with superior blockchain software and applications on a really affordable prices and convenient basis.
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ReplyDeleteBlockchain Technologies is a huge static content website that covers practically every single question you might have about blockchain. Additionally, the site also has a news section where stories from the largest cryptocurrency news blogs are gathered.
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ReplyDeleteBlockchain is changing the world at a tremendous pace, and its implementation has smoothened the business operations and has taken the security standards to the next level. Irrespective of the domain business is dealing with, the blockchain acts as a booster to its productivity, efficiency and maintains a trustless environment.
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Blockchain has revolutionized the digital world through its exclusive range of features that promote business security, data transparency, decentralization, and immutability. As compared to the traditional technologies, blockchain is considered 100 times more secure, reliable, and efficient on which organizations can invest.
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Stellar is a distributed, open-source payment protocol that enables cross-border, quick, and secure transactions among any pair of currencies, including crypto and fiat.
ReplyDeleteThe fundamental operation of Stellar is the same as that of several distributed payment technologies. It operates a shared server network with a decentralized ledger refreshed every 2-5 seconds between all nodes. The unique consensus protocol of Stellar blockchain makes it striking and different from other decentralized transaction protocols. If you are seeking a trusted Stellar blockchain development partner, SARA Technologies is a perfect destination.
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Smart Contracts is a network protocol dedicated to digitally facilitating, authenticating, or executing a contract's negotiation or enforcement. Smart contracts establish a trustful atmosphere while processing credible transactions even between strangers without intermediator. Smart contracts render transactions accountable, immutable, and transparent.
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