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Blockchains should not be seen only as currencies

All Cryptocurrencies

by COINS NEWS 47 Views

The public view on blockchain technology is actually very limited. Not all transactions on a blockchain are related to currencies. A currency is something with a regulated quantity and gains a proxy value from a market economy where it can be traded for "real value". Blockchains provide a more secure way than central databases to implement this, but transactions without limited quantity are possible all the same and can still have a meaningful utility.

Whatever transaction you perform on a blockchain is documented, stored, and linked to your public key by a decentralized database. Whatever message you put into the transaction, it becomes a part of history and can be used later to prove something or to represent some information.

I think people focus too much on earning money from the heap of various currencies created with this technology and too little on actually solving problems with it.

submitted by /u/mankinskin
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