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Beyond Bitcoin

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29 views5 pages

Beyond Bitcoin

marketing

Uploaded by

RAJ
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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“Beyond Bitcoin”

(Exploring new trends in blockchain and cryptocurrencies.)

Aman

What is a blockchain?

A blockchain is a digital, decentralized and distributed transaction ledger


with identical copies maintained on multiple computer systems controlled at
a single time by different entities.

Every transaction is recording in the form of blocks. It’s spread over a


network of participants (node). Every node operator receives the block
rewards for completing the every block on their network. The recorded data
in a block cannot be altered without altering all the subsequent blocks.

They are usually managed by a peer to peer (p2p) network for use as a
publicly distributed ledger. Every new block will be validated only after the
completion of the previous block. Nodes are working on the proof of work
called mining that secured the blockchain.

The use of blockchain removes the characteristics of infinite reproducibility


from a digital asset, conforming that each unit of value was transferred once.
The industry sectors of blockchain are life science and health care, Public
sector, Financial services (major), technology, media and telecommunication,
Energy and resources. The blockchain technology is Increasing very rapidly.

Bitcoin and cryptocurrency

Bitcoin is a first decentralised currency that aims to eliminate the need for
central authorities such as banks or governments. Instead, Bitcoin uses
blockchain p2p transactions using nodes.

Currently the marketcap of cryptocurrency is around $2.7 Trillion. Also the


current price of Bitcoin is around $76,000 which is increasing day by day.
Bitcoin was founded by Satoshi Nakamoto (anonymous person) in 2009, he
owns 750,000 to 1,100,000 bitcoin that makes him the biggest holder of
bitcoin. He also authored the bitcoin white-paper, created and deployed
bitcoin’s original reference implementation. He also scheduled the
maintained the limited supply which is fixed 21,000,000 total bitcoin. On
every Halving after every four years the reward for completing every will
becomes half that helps to increase the demand of bitcoin because of limited
supply and difficulty of mining will be doubled after every halving.

New trends in blockchain and cryptocurrency

Blockchain technology provides unique business opportunities, significantly


and security of transactions. Due to data immutability, using decentralised
systems allows to minize the risk of fraud.

Ethereum and the rise of Smart contracts

After the Bitcoin, the second most well known cryptocurrency is Ethereum,
which is launched in 2015 by Vitalik Buterin at 21 and his co founders,
represent a new era od blockchain innovation. Ethereum introduced the
concept of smart contracts- self executing contract with the term of the
agreement directly written into code. This innovation enables decentralized
applications (dapps) to be build on Ethereum’s Blockchain, opening the door
for everything from decentralized finance (defi) to non fungible tokens
(NFTs).

This boosts an entire ecosystem of financial products and services, many of


which aim to replicate traditional financial services, such as lending,
borrowing and trading but in a decentralized manner.

Platforms like AAVE, Uniswap and Makerdao are the best example of
ethereum is revolutionizing the financial sector.

However, eth faced many scalability issue like high transaction cost that
causes the traffic and network congestion.
To solve these issues, they were working on Proof of work and proof of stake
(pos) by Ethereum 2.0. Which is better in very work of the previous ethereum
roadmap.

Solana, Binance and Ripple are the currently competitors of ethereum in his
field.

Decentralised finance (Defi)

Defi is set of financial services such as lending, borrowing, trading, and asset
management- build on blockchain that removes the intermediaries like bank
or broker. By utilizing smart contract, Defi protocol allow users to engage in
financial activity directly with each other, maintaining transparency and also
low costs.

Platforms like aave, Compound that enabled users to earn interest on their
digital assets, borrow funds without traditional methods and trade
cryptocurrency in a decentralised manner.

While defi has some advantages but there are many liquidity, regulatory
challenge that has threats to the long term stability of defi platforms.

Gamefi

Gamefi is the combination of gaming and finance that is new but rapidly
growing trend within the blockchain and technology space. Gamefi is an
ecosystem where players can earn, trade, and stake digital assets in the
form of cryptocurrency and nfts as the part of their gaming experience.

There is a play to earn (p2e) model, which allows players to earn real world
value through their in game activity. Gamefi changes by rewarding players
with cryptocurrency or NFTs for their time, effort and achievement in the
game.

Such Popular play to earn games are The Sandbox and Axie infinity. Players
earn tokens like sand and slp by winning the game or battles which can be
exchange in real money.
Stablecoins

Stable coins are backed by a specific ecosystem or an institution. These are


pegged to the dollar or gold.

Currently the Tether is world’s leading stablecoin. Launched in 2014 by ther


limited, it was designed to maintain a stable value being pegged to a fiat
currency which is the US Dollar. It represents a 1:1 value with the US Dollar.
It has USDT, EURT, CNHT, and XAUt these are pegged to us dollar, euro,
Chinese yuan and gold.

Tether Hits $7.7 billion 2024 Nine-Month Profits

Holds $102.5 billion in U.S. Treasury

Almost $120 billion USDT circulation in cryptocurrency market

Over $6 billion Reserve Buffet in Q3 2024 Attestation

Artificial intelligence

Ai integration with cryptocurrency is helping to deive new use cases, improve


market dynamics,enhance security and shape the future of decentralised
systems. Artificial intelligence has the huge impact on the cryptocurrency
industry and impacts on holds for investors, traders, developers and users.

Ai also being engage into cryptocurrency through AI- powered trading


platforms. Ai- based trading bots and machine learning algorithms are being
used by investors to automate trading decisions. These systems process the
large sets of data to make rela time prediction about market behaviour.
Some platforms are DEXScreener, BuildAi and chaingpt. These platforms give
the various data of tokens and the trading bot that uses money and make
profits by taking a little commission on it.

Conclusion

In conclusion, the trend beyond bitcoin are expanding the landscape of


blocky and cryptocurrency, it brings the many changes to industries ranging
from finance and gaming to real estate. The future pf cryptocurrency will
likey see deeper integration into global economy. The blockchain and
cryptocurrency is the upcoming market and future for the digital generation.

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