Blockchain technology is not limited to cryptocurrency usage

 

Anyone who knows about cryptocurrency is aware of blockchain technology. It is a very important part of the whole crypto world, and many people even think that this is the only usage there is for blockchains.

There are plenty of ways blockchains can be used. This is because how blockchains work is relatively simple. This opens many different doors for plenty of different ways to use the technology for different purposes.

Cryptocurrencies are possible because of blockchains

Blockchains were not originally created for cryptocurrencies, as many might believe. Blockchain technology is a much older innovation, going all the way back to the beginning of the 80s. This is when a cryptographer called David Chaum first proposed a blockchain-like protocol.

Even though this makes blockchain technology much older than the first cryptocurrency, Bitcoin, many people think that blockchains were invented for Bitcoin. This is why many Crypto Blog and blockchain blogs intertwine with each other. There is a good reason for this misunderstanding.

Namely, cryptocurrencies were the very first actual usage for blockchain technology. Before this, blockchains were mainly theoretical, but cryptocurrency made them more usable. Looking at this from the cryptocurrency’s point of view, blockchains were the one thing they had been looking for to make the whole technology secure and safe from tampering.

Blockchains are used for various things

Even though cryptocurrencies were the first thing ever to actually use blockchain technology, this is not the only possibility there is. There are plenty of different ways to use blockchain technology outside of this.

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For example, some companies use blockchains to track their work or decentralize their finances. Additionally, even some governments have started to use them to ensure safety when it comes to voting. Obviously, this isn’t usable for individual consumers, but it does tell a lot about different possibilities for blockchains.

Blockchains are always changing

Even though blockchains have existed since the 80s, they are certainly not done yet. In fact, because they are related to the internet and computers, they keep on changing all the time. Different mining ways are introduced, and there are many things done trying to make blockchains more environmentally friendly.

Since blockchain technology keeps on changing and altering all the time, it is very important to stay up to date all the time. This way you will always learn about all new possibilities and opportunities, to take advantage of.

Blockchains are an important part of the future

There are already plenty of different ways to use blockchains. Sure, using them for cryptocurrencies is one of the most well-known ways, but it’s certainly not the only one. It’s a great technology to ensure security and safety when it comes to any sort of information and data.

Most likely in the future, there will be even more ways to use blockchains. Many of these will be important also for individual consumers in different ways. Therefore, it’s a good idea to learn the most about blockchains already now.

About the author: Cory Weinberg

"Student. Subtly charming organizer. Certified music advocate. Writer. Lifelong troublemaker. Twitter lover."

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