While Bitcoin is a public blockchain, you can also have a private one and a combination of the two called hybrid blockchain. All this can be used by individuals, corporations and governments. Here’s looking at 8 uses of blockchain other than cryptocurrencies…
1. IoT Networks: The Internet of Things is expected to be really big in the 2020s. The current IoT systems have a centralized architecture, but how effective will that be if the number of IoT devices touches say 500 billion, the very upper estimate? How safe will such gigantic networks be? There is a way to secure and decentralize this via blockchain. In fact, when it comes to Distributed Ledger Technology (DLT), there is something called Directed Acyclic Graph (DAG), which is seen as a successor to blockchain tech. IOTA (IoT + iota) is already looking at Tangle (DAG) technology to work with IoT networks.
This story is from the March 2020 edition of PCQuest.
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This story is from the March 2020 edition of PCQuest.
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