Unfortunately Bitcoin is being overshadowed by underline technology Blockchain. Because of Bitcoin the blockchain would have never been tested to the extent that it did. Blockchain is a public listed of transactions having a pear to pear network running the same task all over the world no government or banks can over see them or control them. Pending transaction are turned in to cryptographic mathematics puzzle. A miner that runs a ASIC computer solves these problems. These transaction when completed are stored in blocks and every block is created every 10 mins. Once the block is completed they are linked together like a chain hints Blockchain, because this is a public ledger its impossible to hide or change anything with out changing every block on the chain since inspection.
Example what the Blockchain can do
1. Microsoft is working on digital identity for people in third world country.
2. Walmart is tracing food from its origin to plate with in 2 seconds instead of 6 days
3. Kodak is working on paying artist and authenticating there work through the blockchain.
4. facebook is using the blockchain to address privacy concerns.
Leave a Reply