If you follow tech news, you have probably noticed that the term „blockchain“ frequently occupies headlines. Every day we learn about another new digital startup that seeks to resolve some specific issue by utilizing blockchain technology.
This is by no means coincidence. What has started around 10 years ago as a side-project of cryptocurrencies has evolved in the meantime into fully fledged technology. Today, you would be hard pressed to find an industry niche which is not disrupted by the blockchain technology, at least to a certain extent.
A lot of people wonder if these disruptions are actually a beginning of a new industrial revolution or just a passing hype built around new and entertaining technology. While it might be true that the news and experts sometimes exaggerate on the blockchain’s role in the future, there is more than enough evidence to support the claim that this tech is here to stay.
If you take a look at the infographic posted below this text, you will notice that it has already found applications across different industries – cybersecurity, finance, supply chain management, voting systems, private transportation, and many others. This comes as no surprise considering its nature and the way it works.
Why Is It So Popular?
Simply said, blockchain technology offers an entirely new way of handling and processing data. Unlike traditional models, this one is credited with high levels of security, immutability, and transparency, to name a few.
This is all possible thanks to the distributed system of storing data. Instead of keeping everything in one place, such as a central server, for example, blockchain-based systems spread data across different nodes on the network.
If a hacker ever wanted to attack such system, she would need to take control over the nodes on the network, which translates to tens of thousands of computers in some cases, sometimes even millions.
That said, many experts agree that blockchain will only continue to grow and expand to all industry niches. To get on the bandwagon before it’s too late, check out the infographic that follows.