Generations of Blockchain in CryptoWorld
The simplest definition of Blockchain would be 'ledger of transactions' and transactions can vary in different blockchains and every blockchain has its pros and cons.
1st Generation - Dawn of Cryptocurrency
First generation of blockchain started with Bitcoin and still mostly widely used today but its getting too much slow and expensive in terms of energy consumption even more than some countries.
Monero, Dash,Zcash etc are also examples of first generation which somehow cover up drawbacks of Bitcoin network in one way or other.
2nd Generation - Age of Smart Contracts
Ethereum changed the game with efficiency and smart contracts but it is also getting exhausted in terms of speed.
Ripple belonging to same generation is also radically changing banking SWIFT system.
NEO already outperforming many of its competitors in terms of its speed but its true potential is still not exploited yet.
EOS and IOTA are still in beta phase in terms of operations and their claims to solve scalability issues are yet to be tested.
3rd Generation - Robust Blockhain
Cardano claims to solve all the problems faced by previous generations like security, scalability, smart contracts and adaptability.
ICON and AION also belong to same generation but the platform for all these coins will be operational after 2018.
4th Generation - In development phase
4th generation blockchain are still in research and development phase and potential candidates for it are Wanchain and Seele . It would to early to analyze and review these coins.
Hashgraph- a different technology then blockchain and Quantum computing can also dramatically influence future of blockchain but so far it looks Bright and Promising.
nice post....concise to the point.
Thank you so much
Ok now this makes sense to me! I'm fairly new to the whole cryptocurrency market and your explanation was very helpful. I'm just curious; have you ever heard of PROC or procurrency? I've got a buddy who is all over it, and I just thought maybe you could add something of value to it for me:) Thanks so much; if not, no problem. I'm just trying to learn as much as possible on here! Cheers :)
As per my knowledge, PROC is a cryptocurrency claiming to introduce their coin into e-commerce business but i think it will face some tough competition. There are atleast 2-3 coins which are in top 200 targeting the same field.
Thank you so much for the feedback, really appreciate it :)
Thanks so much for the information; my buddy is a bit of a dreamer, so I'm so glad I asked someone who is unbiased :) He's dumping money into it, but I had too many red flags popping up to do that!
great post dear
Thank you so much
Informative post! Thanks for sharing.
Thanks for this 👍
Thank you for sharing information about cryptocurrency structure for us lesser mortals who know literally nothing of value with regard to cryptocurrency. 😊... Wish you success, @bluemist 😊
Always been an honor 😊
😊😊
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