In 2009, Bitcoin was launched as peer-to-peer electronic cash. Bitcoin inspired the launch of several other cryptocurrencies. Bitcoin set the stage for a new field called blockchain , which is a special case of distributed ledger technology (DLT). In 2015, programmable blockchain/DLT projects, such as Ethereum, Hyperledger Fabric, and R3 Corda, were launched. Over the last decade, blockchain/DLT has evolved to encompass a collection of distributed computer network architectures implementing various data structures, decentralized consensus protocols, and economic incentive models. In this rapidly emerging field, some remarkable innovations, experimentations, and developments have been carried out by start-ups, enterprises, and governments. This article will highlight various current and future applications of this technology.
Author: Ramesh Ramadoss