Continued evolution of blockchain technology from "summary" of Digital Gold by Nathaniel Popper
The story of Bitcoin is not just about the creation of a new form of money. It is also about the creation of a new technology – the blockchain. The blockchain is the underlying technology that makes Bitcoin possible. It is a public ledger that records all transactions that have ever taken place on the Bitcoin network. This ledger is maintained by a network of computers all around the world, known as miners. The blockchain is a revolutionary technology because it allows for the secure and transparent transfer of value without the need for a trusted third party. This means that people can send money to each other without having to go through a bank or payment processor. This has the potential to disrupt many industries that rely on intermediaries to facilitate transactions. But the blockchain is still in its early stages. Just like the internet in the early 1990s, it is a technology that is still evolving. There are many challenges that need to be overcome before the blockchain can achieve mainstream adoption. These challenges include scalability, privacy, and security. One of the biggest challenges facing the blockchain is scalability. The current Bitcoin network can only process a limited number of transactions per second. This is a pro...
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