Topic: Know the 3 Blockchain Generations and the Future of the Blockchain Later (Read 88 times)

The Bitcoin blockchain is the first generation blockchain technology. The first generation blockchain focuses on the value of motion, ledgers and the ideal payment system. This function is the basis for why bitcoin was created. In addition, another core aspect of Bitcoin is that bitcoin was created as open source. By making the programming code behind bitcoin open source and distributing it for free on Github, Satoshi Nakamoto gives someone a chance to learn, build and expand their blockchain technology. Bitcoin, Litecoin, Monero, Dash and some other popular coins are examples of first generation Blockchain.

Ethereum, Ethereum Classic, NEO and QTUM are pioneers of the second generation blockchain. Considered as the second generation because they have taken the idea of ​​recording transactions on the blockchain and expanding them to include programming languages. Second generation blockchain also introduces a smart contract, which allows transactions made to be tailored to the needs of the parties involved / certain parties. In addition, the second generation blockchain is also the one that generates Tokens as non blockchain assets.

Third generation blockchain, until now I haven't really been able to determine which coin is worthy of being called a third generation blockchain. The problem is to be able to be called a third generation blockchain they have to be able to overcome all the issues that exist in Blockchain generation 1 and 2.

Here are some of the problems with Blockchain technology today:
1. Too slow. (It takes enough time for the transaction to be confirmed)
2. Limited scalability. (8 to 10 transactions per second)
3. Sustainable development is too difficult. (Requires hardfork to update the technology)

However, some of these coins might be referred to as representatives of the third generation Blockchain because they provide significant blockchain technology improvements:
The Graphene Blockchain technology from EOS, Steem, Bitshare.
Layer 2 services from Lightning, Raiden etc.
M2M blockchain application from Byteball and IOTA through its Tangle
And some other coins like: ICON, Wanchain, AION, NEBLIO, LINK and ArcBlock are also worthy of being called third generation blockchains.

That's the development of blockchain technology to date, it's interesting to see how the fourth, fifth and so on generation of blockchain.
If you are alone, what do you think about the future of blockchain technology later? Are you interested in developing blockchain technology?