Beyond Bitcoin : Cryptocurrencies Values and More

Beyond Bitcoin

So, if you’ve been keeping an eye on the world news over the last couple of years, you’ll have heard about Bitcoin and blockchain for sure. You know that it’s a decentralized ledger (whatever that means) of financial transactions. Okay, let’s go through the cliff notes version.

Basically, the data stored in the chain is spread over several different computers within the network. For new data to be added, it has to be verified by miners in the chain. The premise is that the network is not under the control of a single entity and is user-driven. Because of the verification process, it is highly secure.

But, probably of a lot more interest to you was the prices that the crypto commanded. At its height, it came in at just under $20,000 for one Bitcoin. Not at all bad for a digital asset, especially when you consider that there is nothing to underpin the value. Of course, since then the price has dropped significantly, and this is another fact that you would have seen in the news.

This is something that, if you are like many investors, would have switched you off the currency completely. But, before you write off the entire blockchain-based industry, you need to understand that Bitcoin only forms one part of the industry.

Sure, it is the first application of the tech, but that was almost 10 years ago. We’ve come a very long way since that point. See for yourself by scrolling down. Although the infographic below was created by Bitcoin Play, a site that reviews Bitcoin casinos, it doesn’t have anything to do with gambling.

As you’ll see, there are a lot more applications of this technology that cryptocurrencies use. Take Tron, for example, (The company, not the movie). It’s one of the biggest chains globally and allows users to publish, sell, and store data. It’s providing a channel for creatives to get their work out into the public realm and to earn money for it.

You’ll see plenty more examples like this one in the infographic, which means that, even if Bitcoin tanks tomorrow, there is still a rosy future for the blockchain tech.