Blockchain 3.0: The Future of Blockchain and Beyond
What is Blockchain 3.0? Blockchain 3.0 is an umbrella term for technological innovations solving significant problems with Blockchain 1.0 and Blockchain 2.0. To refresh your memories, Blockchain 1.0 arrived in 2009 when Satoshi Nakamoto released Bitcoin to the world utilizing distributed ledger technology (DLT) and a proof-of-work (POW) consensus mechanism. Five years later, Ethereum brought blockchain to the next level with smart contracts and decentralized applications (DAPPs). Blockchain 3.0 is the next generation of blockchain and includes some non-blockchain technologies (more on this later), centered on facilitating greater adoption across enterprises, institutions, and the globe. It aims to address security, scalability, sustainability, interoperability, and cost issues associated with predecessor iterations. Main issues with Blockchain 1.0 and Blockchain 2.0 Blockchain 3.0: The Future of Blockchain and Beyond To better understand Blockchain 3.0, we must first understand t...