Despite the fact that not even a decade has passed since the blockchain was created, various technological advancements have supported its evolution and continue to do so. Gone are the days when blockchain technology was used solely for peer-to-peer transactions; let’s take a look at the tech that has contributed to the system we now refer to as Web 3.
Social Media
Cryptocurrency and, therefore, blockchain technology rely on its community. In light of this, it isn’t easy to find a group of individuals more committed to the advancement of a cause than the crypto community.Â
Like crypto, the world of social media is constantly evolving. A recent study by the University of Georgia discovered that the more people use social media, the more likely they are to invest in crypto. Platforms such as Twitter and Reddit provide the perfect places for individuals to learn about the blockchain and discuss its benefits, and as social media evolves and becomes more widely used, it makes sense that the blockchain and cryptocurrency do.
These platforms create spaces where individuals can discuss new and exciting developments in the world of cryptocurrency. Hot topics such as crypto presales, as well as endorsements from various celebrities, have brought unprecedented attention to blockchain technology—attention that has directly contributed to its development.
A well-known business figure or a crypto whale’s announcement about a new coin influences the decision of potential buyers, creating a buzz around the early sale of new coins, as does any other news related to our crypto world.
The Evolution of Wireless Technology
When blockchain was first created, wireless technology was in its fourth generation (4G). When 5G came along in 2019, it allowed for some major developments in blockchain technology. Most obviously, the speed and reliability of the secure internet connection that 5G brought to the table met the demands of crypto and blockchain users.
This made the use of blockchain technology more seamless than ever before, bringing it to the attention of more individuals. Supply chains became more reliable as 5G enabled real-time tracking, which improved the trust between these companies and their service users.
Not only that, but the integration of 5G made the day-to-day use of cryptocurrency within the blockchain easier. Individuals could invest in crypto and make transactions across the blockchain faster and more effectively than ever before.
Artificial Intelligence
AI is at the forefront of many modern technological advancements, and the blockchain is no exception. Blockchain technology and artificial intelligence work hand in hand and can both contribute to each other’s development.
When it comes to AI aiding the blockchain, it does so in many different ways. For example, AI can process large amounts of data in a very short period. Blockchain can then utilize this to speed up many of its processes, as well as craft smart contracts, in a short amount of time. AI can also contribute to the value of the blockchain’s security, as it can detect potential threats almost instantly.
Also Read: Blockchain Firm dWallet Uncovers Major Validator Security Flaw
Conclusion
Perhaps one of the most fascinating aspects of blockchain technology is its constant ability to evolve, under our clever guidance (and the latest help from AI). As the tech world constantly develops, so will the blockchain, and there are many advancements to look forward to.
With countless cyber threats in existence and more constantly emerging, it is essential that technology continues to support the security of the blockchain. Additionally, as crypto becomes more mainstream and gets wider acceptance, more people will turn their attention to developing the technology itself.
With all this in mind, the blockchain and cryptocurrency’s future looks promising.
