Why blockchain is becoming popular these days?

I want to talk about blockchain and analyze the reason why it is so popular.

There are 5 main reasons.

First, the change of the information internet to value internet.

Blockchain is essentially a database of distributed accounts on the peer-to-peer networks, and maintains the reliable database through the decentralized and trusted way.

For nearly half a century, human invented computers and the Internet and brought the revolutionary changes to the information carrier and transmission. The Internet has changed the way of recording information and transmission, but it has only changed the carrier of information and has not promoted the value and dissemination of information.

The wide application of the Internet technology have transformed many industries, such as information, retail, finances and our daily life. But the Internet has a flow thinking. Data becomes production means, computing is productivity, and the Internet has created a new production relationship that has affected the world. Five companies engage in the Internet among the top 10 companies in the world with the largest market value in 2018.

However, the model of joint-stock companies has not changed. The purpose of commercial operations is to create benefits to the shareholders, not for the users on the platform. The origin of the Internet development is to provide a free and fair platform. However, with the development of the Internet, there are many conflicts in the process, such as giant monopoly and data loss. Even if entrepreneurs have made some innovations, they still face the dilemma of being crushed by monopolists.

Second, the essence of blockchain

From the aspect of technology, it is a collection of many technologies, and forms a new way of data recording and show the storage and the upper application. Blockchain brings us a change in production relations. It changes the trust mechanism and the value transfer.

There are 5 aspects in the application value of blockchain. They are decentralization, anonymity, the convenience of payment, not tampering and programmability.

Third, blockchain reconstructs the Internet

From the perspective of the underlying technology, blockchain is expected to promote the transformation of data records, data dissemination and data storage; blockchain is like an open source protocol, which will touch or even completely replace the underlying infrastructure of the Internet in the near future.

From the perspective of value impact, blockchain realizes the value exchange between peers, becomes the new engine of the Internet, and opens the era of value Internet. From the perspective of the trust, the anti-counterfeiting and anti-tampering features of blockchain can make people create their own integrity nodes in the blockchain network.

From the perspective of social structure, blockchain is expected to integrate law and economy, completely subvert the operation and management mode of the society and may eventually lead people to a distributed autonomy.

Taking the Ulord (its token is UlordToken) public blockchain as an example, Ulord challenges the bottleneck of the blockchain technology, builds a decentralized, globally distributed super-storage and computing platform, provides a more convenient blockchain application interface, and creates a global ecosystem to truly realize the value sharing of blockchain technology and reconstructs the Internet.

Fourth, the transaction convenience

The issuance of shares via the blockchain would be pretty much the same process of issuing stocks, but it would allow using smart contracts, for example, to restrict large initial buyers from selling anything for a predetermined amount of time. It would also not be reliant on the exchanges and depositories that operate in their respective jurisdictions, unable to add foreign citizens to the lists of holders of their traded stocks without the proper infrastructure. It would, however, be possible to trade stocks via blockchain-based solutions all around the world.

The instant exchange of value without any control will create new business models, save time, and allow people to pay fewer fees. All this can happen in a transparent environment.

Fifth, the transaction security

The token on blockchain is a right of ownership and it can’t be falsified — or else it would be possible to create a global database with digital identities linked to certain blockchain addresses. The transaction is quite safe.

So, the above 5 reasons are the popularity of blockchain.

Submitted December 01, 2018 at 03:07PM by Ashelyly https://ift.tt/2zyEU4e via TikTokTikk