Future of Blockchain Technology
In the days cryptocurrencies were introduced introduced, people were curious about what it was and what it could do. Value of the cryptocurrencies such as bitcoin has increased to a significant amount. People had a a doubt about the security and reliability. Its the blockchain technology which was helpful to build the trust by introducing a transparent way of recording the transactions.
Due to the fact that cryptocurrencies are not centralized and the ability use without an approval of a regulatory body, cryptocurrencies have become popular among people. As a result lot of companies have decided to accept cryptocurrencies to conduct transactions.
Most of the people think that blockchain technology is same as cryptocurrency . In reality its not the case. Blockchain is a technology that is used to send a piece of information from one person to another. Cryptocurrency is only one of the product of blockchain technology. One day people might use blockchain technology to conduct medical, real estate transactions, voting etc. Interesting right?
With the popularity of cryptocurrency more and more types of cryptocurrencies will come into market.However only the once which are valuable to people will be able to survive and grow. Despite the banning of cryptocurrencies in some countries it is shown that people are very interested in these. In first 4 months of 2018, people have invested in more money than they invested in the whole year 2017. So its obvious that the trust is building up among people which ultimately help cryptocurrencies to grow and blockchain technology will also keep improving.