In every century there has been at least one revolutionary invention that responded to the growing needs and desires of the people. For example, the printing press which was active centuries ago. Before its invention, knowledge was only available to the wealthy, nobles, and members from high society.
Citizens were largely unaware of what was happening in the country, I suppose you could say they were not given the knowledge because they didn't have access to a medium that would not only give them news but knowledge and also would educate them in the process. The printing press bridged this so-called “knowledge gap”. Similarly, the Industrial Revolution provided new means of production, so to speak, in place of human labor or slavery.
In the past there was a number of inventions that endured, in fact they are now an integral part of the average person's life. The historic first flight in human history, undertaken by the Wright brothers in 1907. The TV, the radio, even the air conditioning. And not forgetting the Internet. All of this has made humanity to go further in its own way than ever before. They have made life easier, some say even safer.
So what is the great invention of this century?
The first “smartphone” appeared in the 1990s, although one could argue that it is “smart” so smartphones are somehow not that trending now. One revolutionary technological invention from this century is??
A decentralized and distributed database, it cant be hacked, a ledger which transactions carried out can't be deleted.
Transactions are fast and, more importantly, no one controls their information except the users themselves.
Blockchain maintains an up-to-date public ledger that is decentralized and distributed among computers. Any computer can verify the integrity of an online transaction, preventing fraud and is transparent.
In the year 2008, Blockchain was implemented, fixing what the cryptographers were calling for years the "double spend" hassle which is largely spending the equal sum of money greater than once. Bitcoin solves this via way of means of checking every transaction introduced to the blockchain to verify that the equal inputs had now no longer been formerly spent.
Unlike traditional currencies, cryptocurrencies are not regulated. A single agency or institution regulates or controls centralized “conventional currencies” like the US dollar, while cryptocurrencies are distributed and decentralized. Without a doubt, cryptocurrencies have many advantages such as anonymity, and the list goes on.
More than three million people use Cryptocurrencies and it will continue to rise in the future as more people get to know it's potentials and blockchain itself, we will see more adoption. But there are still many obstacles ahead of us. on the way as governments around the world view Cryptocurrencies as dangerously unregulated and a means for criminal activities.
It's possibilities are endless, a decentralized, blockchain-based Internet is close!
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