Blockchains

blockchain

blockchain

blockchain

Blockchains are disruptive to several financial and other markets and industries. One of many examples is the growing popularity of cryptocurrencies, such as Bitcoin, Ethereum and a host of others. But the application of blockchains is not limited to cryptocurrencies or even to financial markets or industries. It just happens that the first blockchain to gain widespread public attention was Bitcoin, the first cryptocurrency.

Blockchains are chunks of information, called blocks, chained together in a way that prevents them from being unchained, forever preserving a true history. The application of this technology, using cryptographic techniques is relatively recent, and countless disruptive applications are envisioned by those who understand how it works.

It has become apparent that blockchains can undergo compounding growth in size and value as they acheive acceptance. For this reason, the Rule of 72 can be useful as a tool for estimating their growth trajectory.

The magnitude of disruption likely to be caused by the application of blockchain technology appears to be massive. It would be wise to gain at least a rudimentary understanding of what blockchains are, why they matter and how they are likely to impact life and industry in the coming months and years. There will be many opportunities for those who understand blockchains, as well as important pitfalls and risks to be avoided by not getting caught off guard by the use of blockchains. As with anything new that large numbers of people do not yet understand, there will be numerous traps and scams, designed to prey on the naive, to become alert to. You need to get a feel for where the dngerous hype gives way to the practical value, in order to benefit.

Frequent doubling over time creates exponential growth. Obviously, something that doubles once becomes worth twice as much. Doubling again makes it worth four times its original value. Doubling a third time makes it worth eight times its original value, and a fourth doubling makes it worth sixteen times its original value. You can see the massive difference between the value of something that doubles three times and something that doubles four times. Imaging doubling it five or six times.

Blochains are related to decentralization, trustlessness, cryptocurrencies, disruptions, Bitcoin, Ethereum, Litecoin, ICOs, the rule of 72, and many other activities and subjects.

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