Part 1: Getting the Prerequisites
What's next for blockchain in 2019? One area of significant development and potential is the internet of blockchains. We’re going to shed some more insight on what the internet of blockchains is, why it matters, and some projects paving the way in this space.
What a week it’s been in Crypto. Bitcoin is trading at $5000/coin. Elon Musk revealed his greatest achievement to date in shepherding humanity into the future as the former CEO of Dogecoin. And Coinbase just announced a staking service for its institutional clients, starting with Tezos. If you’re new to crypto your probably asking a few questions: “Bitcoin isn’t dead yet?”, “What’s Dogecoin?”, “Elon Musk is in crypto now?”, and “What is staking and how does it work?” To start: no Bitcoin is not dead yet, although it has ‘died’ over 350 times according to different analysts. As for Elon and Dogecoin, the short answer is no, but there is too much historical information surrounding the meme, crypto in 2017, and otherwise for me to unpack succinctly in this article. If you are unfamiliar and feel like learning more or want to relive the good old days of 2017 you find a brief history here or can even order a paperback book detailing it for $9 on Amazon here.
Blockchain turned ten years old in October, and even though it may be one of the hottest buzzwords for raising money, few definitive use cases have been proven so far aside from digital currencies. Yes, speculative use cases for the technology exist and people are experimenting with the technology in everything from supply chain, to healthcare, to real estate, and even tipping people for their tweets. However, there has yet to be one area or vertical that has seen a total transformation from using the technology. Many feel that this is because the technology isn’t developed enough yet or people don’t understand it fully, but others have begun to wonder whether blockchain is a solution searching for a problem that may or may not exist. It seems like a new article pops up every day for some startup raising millions of dollars for their new technology promising “Blockchain + IoT or, AI, or Drones, or all the above…”. At Consensus Networks, we’re focused on finding projects and use cases that are technically sound and have significant potential. We’re big believers in blockchain and are getting our hands dirty exploring the various protocols, looking for concrete use case examples. One such example we’re excited for is IoT.