This Twitter thread put up by one of the developers and entrepreneurs heavily involved in the crypto and blockchain space is all you need to see today. Blockchain technology is the new software developer’s crush and this Twitter thread explain why:
Golang, Rust, Solidity, Zero-knowledge proofs, Plasma, COSMOS are the new sexy!
— Hammad (@hammadtariq) March 2, 2019
4/ Moral of the story: I would bet on crypto for this fact alone that all of the world’s best engineers are already here, whatever future they are going to build is going to hold. Just like Web 2.0, Web 3.0 is real. Winter or summer, I feel exhilaration everyday!
— Hammad (@hammadtariq) March 2, 2019
“Email” back in the 1990s exposed the world to a new kind of communication protocol, the internet. Internet, or World Wide Web, became the center of attraction for all the tech enthusiasts back then. The initial version of the internet, Web 1.0 as some may like to call it, gave the world a cloud of information where servers like Yahoo controlled the flow of information for the clients/users. A new world of information was unlocked by the internet, and one did not know where it was headed.
With the introduction of Web 2.0 users were able to post their own content online and share their opinions and views with the world through platforms like Facebook, YouTube, Twitter etc. These platforms became one of the dream workplaces for software engineers and developers from across the globe. But amid all this, one of the most crucial aspects of daily life was missing from the internet, finance. Although the internet provided us with every kind of information, it still lacked proper functionality to conduct monetary transactions in its native ecosystem. This changed in 2008 however as bitcoin was brought to life and thus began the drive for Web 3.0.
Web 3.0, or the next-gen internet, is aimed at giving the world not only an internet-native monetary ecosystem but also more data privacy through decentralization. As seen today, most of the internet products such as Facebook are highly centralized, meaning user data is controlled by a single party in control. This raises serious questions on the privacy and security of user data. Platforms like Facebook are often accused of leaking personal data of its users.
The next-gen web, however, tackles these problems by decentralizing user data. And at the center of it all lies blockchain. Developers across the globe are focusing on giving the world an ideal internet-based monetary framework and the ability to decentralize frameworks through blockchain. Other projects based on blockchain aim to revamp elections, logistics, supply chain, data handling, content-creation and much more. The technology is new, and things to explore are in abundance. A new playground for developers has been unlocked making it the new “crush”.
Giving it a much-deserved push are the industry leaders in tech such as Elon Musk and Jack Dorsey, the CEO of Tesla & the CEO of Twitter respectively,
The Internet deserves a native currency; it will have a native currency. I don’t know if it’ll be Bitcoin or not, but I hope it will be.
I mean I think the bitcoin structure was quite brilliant. It seems like there’s some merit to Ethereum as well, and maybe some of the others.
said Elon quite recently.
The social media giant Facebook is already looking into using blockchain to revamp its login framework and data handling to tackle privacy concerns of its users.
More and more companies are either adopting this technology and lending their support to blockchain. The main features this tech provides are trustless-ness and transparency. The record of all the happenings of a blockchain network is not kept by a single party, rather it is maintained by decentralized nodes. Since every node participating in the network contains the record, a fabric of transparency is established. As opposed to centralized frameworks, the users do not have to trust a central controlling party. The trust is put in code and mathematics and hence, trustless-ness is achieved. These features make blockchain of extreme importance for the finance industry among others. As more brain power and dollars flow into this space, additional use-cases of this tech will be discovered. Kevin Duffey from Next Level Finance had wrote to BlockPublisher;
“Thousands of the world’s best engineers and programmers are working on the platform, and billions of investment dollars are fueling major companies and initiatives in the space. In other words, the progress of the platform will continue.”