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Why is Blockchain Growing at a Rapid Rate?

Why is Blockchain Growing at a Rapid Rate?

Tuesday February 05, 2019,

3 min Read

Blockchain Technology

Blockchain, which was originated in 2008 as the backbone of Bitcoin, is now growing at a rate faster than the internet itself. In fact, many people are now actively considering blockchain as one of the most promising new technologies of our time. So, what is so special about blockchain that makes it such a great technology and adds to its rapid growth? Let’s find out.

Blockchain was invented as technology to support the development of digital assets. Its standard features included decentralization, fast speed of transactions, security and anonymity. Thanks to these features, blockchain has now become a technology the uses of which go beyond the digital asset world.

Even though digital assets are becoming mainstream very fast, many experts believe that blockchain as technology will become more significant in the long term. Wondering why?

Well, the main reason behind the popularity and growth of blockchain is a number of applications, based on this technology, that have already become successful in their respective fields. The interesting thing is that blockchain, which was originally meant for faster digital transactions, is now being used in a wide range of applications which even differ from the original digital asset concept. In fact, the continuous evolution in this field has proved that bitcoin had been just one application of the blockchain technology, which has a much bigger future.

There are a number of organizations, including startups, around the world that are working on developing or have successfully developed blockchain based decentralized applications (DApps), platforms and ecosystems. One of the best examples of the growth of blockchain technology and its applications for the benefit of the actual world is Era Swap Ecosystem. Let’s try to understand the growth of blockchain with the example of Era Swap.

Era Swap is a blockchain powered ecosystem that consists of a number of platforms designed to perform various tasks in the ecosystem. For instance, there is the Time Swapper Platform which is a p2p marketplace for traders to exchange various services in the form of tokenized time. The benefit is that there is no middleman so a service provider can be assured of the maximum value for their time. There are various other applications, such as Era Swap Wallet for storing and trading digital assets, ComputeEx - a one-in-all global crypto exchange, and the TimeAlly Smart Contract for controlling the demand and supply of the Era Swap Token (EST).

Era Swap Ecosystem is already getting a huge buzz in the industry, thanks to its multi-vertical solutions along with highly-secure trading. This is just one example of how the blockchain technology is contributing to change the face of the future for good.