Bitcoin Stretched Thin by Massive Adoption of Blockchain Technology?

Bitcoin was initial introduced by Satoshi Nakamoto when he published a paper about it in 2008. The paper gained a lot of courtesy as he managed to solve a double spending problem that researchers were attempting to solve for over a decade. Satoshi Nakamoto introduced a judgment of a distributed bill called blockchain to do so. The unpractical bitcoin was done a existence within one year.

Bitcoin was designed to be a digital banking that can be used for creation exchange in place of fiat currency. However, bitcoin and a record behind it has grown bigger than itself. Blockchain record has outgrown bitcoin and now we have bitcoin companies that are perplexing to find opposite uses of bitcoin technology.

Attempts to use a blockchain record for other applications has given arise to a terms Bitcoin 2.0 and Bitcoin 3.0. The developers and bitcoin companies have done some earnest improvements, repurposing a blockchain record for other applications. The use of blockchain record now extends to not usually bitcoin though for several other fintech applications. We all know about a banking consortium that has collaborated with a New York-based fintech solutions firm, R3CEV to rise private blockchain record for a banking sector.



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