//I really don’t think most people (including myself) can fathom just how early we are in this space

I really don’t think most people (including myself) can fathom just how early we are in this space

I caught a post the other day featuring this picture, comparing it to today’s decentralized tech, and it’s completely right.Bitcoin was the world’s first decentralized database. And it’s great as just that but nothing more — a single database with static information. Its followers (Monero, Litecoin, Bitcoin Cash, Nano) serve the same core purpose — a database of transactions. For a single physical machine, this is analogous to a ledger and nothing more.Ethereum attempts to create a separate machine that is natively programmable with a true Operating System and its own scripting language. All other smart contract platforms attempt the same. For a single physical machine, this is analogous to a computer with no networking capabilities.Third generation technologies such as Cardano and EOS are attempts to create a third machine that is not only natively programmable, but also to network all other decentralized protocols via one mechanism. This is where we actually see distributed ledger tech reach the point that personal, single-machine computers did with the advent of the Internet.Once such a core Internet of Blockchains is created, the sky truly is the limit. It’s extremely easy to envision this tech scaling to the point of being able to compete with bandwidth provided by a central internet service provider. We won’t be talking transactions per second. We’ll be talking megabytes or gigabytes per second.It may seem far fetched but it seems to be the next logical step given the path of development centralized computers have taken since their inception through the advent of the Internet to today — where people easily stream huge files not stored on their local machine, and where this decentralized tech has performed analogous leaps with analogous future goals.We truly are just getting started with this technology, and what the future holds is truly fascinating to speculate on.

I caught a post the other day featuring this picture, comparing it to today’s decentralized tech, and it’s completely right.

Bitcoin was the world’s first decentralized database. And it’s great as just that but nothing more — a single database with static information. Its followers (Monero, Litecoin, Bitcoin Cash, Nano) serve the same core purpose — a database of transactions. For a single physical machine, this is analogous to a ledger and nothing more.

Ethereum attempts to create a separate machine that is natively programmable with a true Operating System and its own scripting language. All other smart contract platforms attempt the same. For a single physical machine, this is analogous to a computer with no networking capabilities.

Third generation technologies such as Cardano and EOS are attempts to create a third machine that is not only natively programmable, but also to network all other decentralized protocols via one mechanism. This is where we actually see distributed ledger tech reach the point that personal, single-machine computers did with the advent of the Internet.

Once such a core Internet of Blockchains is created, the sky truly is the limit. It’s extremely easy to envision this tech scaling to the point of being able to compete with bandwidth provided by a central internet service provider. We won’t be talking transactions per second. We’ll be talking megabytes or gigabytes per second.

It may seem far fetched but it seems to be the next logical step given the path of development centralized computers have taken since their inception through the advent of the Internet to today — where people easily stream huge files not stored on their local machine, and where this decentralized tech has performed analogous leaps with analogous future goals.

We truly are just getting started with this technology, and what the future holds is truly fascinating to speculate on.