Since inception, The Blockchain Technology and its range of Blockchain Networks has been by far the most successful and criticized technology. The internet in its nascent stage had its own share of such criticism, and like every innovative concept, grew exponentially to topple the criticism of the masses. The Blockchain Technology can be regarded as the New internet due to several reasons, some of which we will point out below:
Blockchain technology at Inception was greeted with much disbelief, many people till now still regret why they didn’t believe in the ecosystem at that time, of course it will be a seeming impossible task to believe in something that was said to be able to topple the entire financial institution of which at 2008 was at the peak of the industry.
The disbelief attributed to blockchain technology was so strong that some people still show those same signs, exactly the same way the internet was ignored by the giants of the industrial age.
Notably, blockchain technology was introduced at a time that coincided with several religion’s timing for signs, and as such there were many legends and myths surrounding blockchain at the time, coupled with the Anonymous identity of Satoshi Nakamoto, the founder of Bitcoin, it was a heralding of several myths and legends, just like the internet.
Within a decade, blockchain technology has experienced massive and rapid growth in all areas. Market capitalization, usage, upgrades and so on. We are now experiencing the rise of fourth generation blockchains, the internet was characterized by such rapid growth too
The blockchain ecosystem, within 10 years of inception can boast of over 10 Million participants worldwide, the rate of adoption of blockchain and cryptocurrencies have been on the exponential increase within the past few years. Same way the internet grew to become a worldwide phenomenon.
What do you think about the blockchain, how else is it related to the Internet? Share with us through any of our social media channels below.
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