...by Daniel Szego
"Simplicity is the ultimate sophistication."
Leonardo da Vinci

Friday, April 7, 2017

Blockchain 3.0

It is surprising how fast the technology is being developed. Slowly we reach the Blockchain area 3.0. I would summarize the three stages of the Blockchain revolution from a technological point of view as follows:

Blockchain 1.0 - Bitcoin: It is basicaly the Bitcoin area, Blockchain had only one specific application for transferring money, with some other version and extensions like alternative cryptocurrencies.  

Blockchain 2.0 - Generalization: As the platforms are getting extended to cover general application areas and Turing complete languages to write general Smart Contracts. A good example is for such a chain is Ethereum. 

Blockchain 3.0 - Industrialization: Even general platforms are extended with elements providing the fast and efficient realization of  industrial solutions. Platform like Azure Blockchain as a Service or Hyperledger do not really provide a Blockchain solution on their own. Despite they provide frameworks for several existing Chain solutions supporting several additional core services from hosting to authentication.