Blockchain Risks and Chances – An 2018 Overview on Public and Private Blockchain, Smart Contracts, DAOs and ICOs

A few years ago, talking about Blockchain was largely consistent with talking about the technology behind Bitcoin. In contrast, Blockchain nowadays comprises a whole technology branch, whereby the Blockchain itself can be implemented in lots of various ways. Not a year ago, on December 17, 2018, the peak of the Bitcoin hype was reached by the breakthrough of $20,000 per coin. With the Bitcoin hype also, the hype around the Blockchain was further fueled. Consequently, we now have over 1800 Blockchain Platforms with Cryptocurrency listed on coinmarketcap.com. In addition, there are numerous frameworks and providers for so-called Private Blockchains, which are mostly used in companies and consortiums. Therefore, I’ll give an overview in this blog article of the current development in Blockchain as well as its chances and risks. I’ll also deal with technologies such as Smart Contracts, DApps, DAOs and ICOs, which are possible or have grown through Blockchain.

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