As our reliance and usage of internet services continues to grow exponentially each year throughout the world, the infrastructure currently in place can barely keep up with demand. Large portions of even developed countries like the United States might have spotty internet service at best.
Blockchain, like that used for cryptocurrency, may offer solutions to our problems with current infrastructure leading to a future where private and affordable internet is ubiquitous and accessible to all.
Most of the issues we face today with regards to internet service stems from the fact we currently use a centralized infrastructure model. The reliance on centralized facilities almost always owned by for-profit companies means that internet service is not guaranteed for all demographics. This kind of infrastructure will be located and cater to highly populated areas such as major cities, leaving large swathes of rural areas with unreliable, limited and expensive internet coverage.
Another growing concern today is the right to privacy. While regulation of the right to privacy is even being debated on constitutional grounds in courts, the reality of centralized infrastructure right how means user privacy is not a given. Existing internet services, since they are run for profit, aren’t natural and therefore regularly sell user information for commercial purposes. Major global hacking campaigns have also raised concerns regarding how invested these service providers really are in maintaining user privacy.
If both concerns of reliability and security stem from the usage of centralized infrastructure, it follows logically, then that the solution may lie in decentralized platforms. The inherent security of blockchain allows for the creation of such decentralized services, thus paving the way to an improved future.
Blockchain was first developed by Bitcoin, a type of cryptocurrency.
While Bitcoin news and Bitcoin stocks continue to garner the most attention among all types of blockchain programs and cryptocurrency, blockchain has since been adapted to form other types of cryptocurrency. Ethereum stocks, for example, have become a hot topic. Ethereum news is second in popularity to Bitcoin news at present moment but the volatility of blockchain stocks means that could change at any moment, So what does a type of cryptocurrency and the blockchain it’s based on have to do with internet service?
As stated previously, the solution for our current internet woes is decentralized platforms. While that might seem less secure than today’s infrastructure, blockchain allows for the formation of totally private yet commonplace platforms because blockchain is secure by design.
Blockchain is a growing list of records called blocks which are linked and secured together in a chain using cryptography. Each block contains a hash pointer as a link to a previous block, a timestamp and transaction data. This formulation makes blockchain secure by design as it is inherently resistant to modification of its data. While blockchain can be used for a variety of highly secure functions such as transmitting medical records, blockchain’s most popular use is for cryptocurrency.
Just as the blockchain created for Bitcoin was adapted to create other types of cryptocurrency, these news forms of cryptocurrency can also be adapted for other uses. After all, blockchain isn’t just for transmitting financial data as it relates to cryptocurrency; it is a type of general record transmittal.
If you don’t keep up with Ethereum news, you may be unaware that not only are Ethereum stocks increasing in value lately, but the blockchain underwriting this particular form of cryptocurrency has been adapted.
Cutting edge companies are now using an Ethereum based token to power decentralized internet service.
Based on blockchain, these new types of services in development will allow anyone who has internet data to function as a service provider to his or her immediate community by providing WiFi services. Since blockchain is based on code which is both secure yet expansive by design, this means each individual can spread WiFi throughout entire communities, regions, even entire countries.
While blockchain may completely change how internet coverage looks and works in the future, what does that mean for us right now?
For starters, since blockchain technology looks so promising for revolutionizing a variety of internet based transmittals such as cryptocurrency, medical data, educational records and so forth, there’s profit to be made now if you buy blockchain or blockchain stocks.
As the old adage goes, money makes the world go round so it’s no surprise that cryptocurrency currently dominates blockchain news. Bitcoin stocks and Etherium stocks can be volatile as all markets are, but their contributions to blockchain technology like that adapted from Etherium into IUNGO means more than likely that investments in cryptocurrency are likely to pay off over time. While an investment in Bitcoin stocks or Etherium stocks today may not yield much profit within a month or even a year, it will more than likely be worth more than what you paid within five or ten years. To predict what kind of impacts blockchain stocks will have on cryptocurrency and other uses, it’s important to keep up with Bitcoin news and Etherium news since these two companies seem to dominate blockchain news and blockchain stocks.