What kind of company is blockchain (Is blockchain a legitimate platform)?
What kind of company is blockchain? What role does blockchain play in cryptocur
What kind of company is blockchain? What role does blockchain play in cryptocurrencies like Bitcoin and Ethereum? According to statistics, there are currently over 2 million addresses holding at least $1000 worth of Bitcoin. However, there are many other people who have not accessed their assets, besides these 2 billion addresses. So why do many people pay attention to blockchain, which is a part of the entire industry?
So what kind of company is blockchain? What is its role? Blockchain is a distributed database system, a peer-to-peer technology that enables communication and validation of transactions between electronic data and physical files. These technologies ensure the security and integrity of information through hash values (hashrate).
In simple terms, it is to prevent one party from tampering with data and revealing their identity to a third party without providing any public evidence. Due to the complexity and time-consuming nature of this technology, its source cannot be guaranteed to be reliable. On the other hand, if users want to obtain more information or participate, they must rely on external organizations for access. This is why people hope to receive information or services more easily from around the world.
Of course, this concept is not meaningless, but fundamentally, blockchain is a simple term: a decentralized ledger, which is the most important part of internet history. The reason why blockchain can solve such problems lies in its consensus mechanism and the data storage capability based on smart contracts.
In addition, according to records from the U.S. Patent and Trademark Office, as of November 30, 2017, a total of 3,179 companies worldwide disclosed patent applications involving “blockchain”. This includes IBM’s Hyperledger Fabric and Microsoft’s Azure, among others. Furthermore, China has the highest number of enterprises, accounting for over half of the total. The number of patent applications in 2017 was 2,293, a 120% increase compared to the previous year, reaching the highest level in four months. In the first quarter of 2018, a total of 9 invention patents were submitted. (Sina Finance)
Is blockchain a legitimate platform?
In 2018, blockchain technology has become the hottest trend in the digital economy era. However, from the current regulatory situation, this industry is still in a relatively chaotic state and there are some issues.
Firstly, there is a lack of legal support. For most investors, their attitude towards this technology is not firm. They see it as an innovative product, but they do not realize its potential value. Therefore, these investors do not really understand what this project is all about. On the other hand, because blockchain itself is not a true platform or industry, it is difficult to determine whether this investment behavior is a legitimate platform or industry. (Financial Network)
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