We Are Entering a New Era - The Blockchain Revolution

With all the fuss around cryptocurrencies right now, I decided to take a deeper look into what it actually holds in our future. Before I start though, let's review the basics of crypto. Cryptocurrencies use a type of public ledger called the "blockchain". It's basically a record of all transaction that go through in and out of this ledger, confirmed by "miners" who connect to the network. They "mine" by solving blocks of cryptographic hashes, and once the blocks are solved, that's where the confirmation for a valid transaction comes in.

This raw concept of blockchain is pretty simple, but it has an almost infinite application into our society. First of all, it is decentralized - no central authority holds the whole ledger. Everyone has a copy of the transactions and you can't alter it at all, unless you have the necessary hash power to do so (which is impossible, consider BTC having 18,000,000 TH/s of computing power from miners in the time of this writing). From this alone, it removes the problem of counterfeiting, fake goods, and to an extent corruption in the government. All records are set in stone once it goes into the public ledger. No one can alter and replace it with fake data, unless as I have said you have enough compute power to overwrite it - which is obviously impossible.

Decentralization also removes power from centralized institutions. The banking sector, media, academic institutions and all others lose the ability to control information. With blockchain, there is transparency and 100% authenticity in the information we receive. They can't censor out things and show us what they only wanted to. It brings back control to the masses, not just to a group of people.

With that being said, I'm expecting cryptocurrency to have a long way to go before reaching a critical amount of users for true mass adoption. It will have steep curves along the way once majority of the governments realize that blockchain technology can disrupt global powers; bringing back control to the people and not to the 1% of the 1% elites as we know today. We are still in the tip of the iceberg. These success stories of crypto millionaires and lambo memes isn't the real face of crypto. We are the forefront of the blockchain revolution, everything we do right now would be written in history, on how mankind transitioned from the industrial age to the digital era of blockhain technology.