I’ve always followed technological developments, including blockchain. I’ve known about and researched what blockchain is and how it works for quite some time. However, my initial response was rather indifferent, possibly because I was focusing on other things at that time.
It wasn’t until about a year ago, with the surge of news surrounding the fourth Bitcoin halving, that I felt compelled to dive deeper into the world of blockchain.
After extensively studying from various sources, I found some fascinating insights—at least these are my personal impressions of the blockchain world. Here are a few key points:
- Not Meant to Replace Centralized Systems
This was my initial misconception, and perhaps a common one. I thought blockchain, with its decentralized concept, would completely replace centralized systems. Instead, blockchain complements centralization.
- Transparency
All transactions on a blockchain are recorded in a ledger distributed across all nodes, allowing everyone to see them. This foundational aspect of blockchain eliminates the need for a ‘middleman’ who might not be transparent.
- Community Spirit
What intrigued me the most was the community spirit. Communities play a crucial role in the development of projects, especially in the realm of altcoins and even meme coins. Yes, meme coins—they may sound silly, but I truly felt the community atmosphere when I joined a meme coin project group.
- Innovation
Since this technology is relatively new, the spirit of innovation is palpable. Particularly in the financial sector, there’s a lot of ongoing innovation. Currently, many projects are bridging blockchain with real-world physical infrastructure, known as the Decentralized Physical Infrastructure Network (DePIN).