Who is working on the Blockchain?
Software Engineers and Tech Executives who have traditionally worked in Silicon Valley for large Tech Companies are shifting their attention towards Blockchain Companies. For many, it is seen as a transformational moment to contribute to society and change the way things have been done.
Not only do we see a huge migration of tech talent, but even corporations are shifting their business models to include Blockchain and Digital Assets into their business strategy. Well known companies such as Facebook rebranded to Meta to focus on the Metaverse, Square a digital payments company rebranded to Block in order to focus on cryptocurrency payments, and Intel is focused on producing efficient mining chips. The endless names of companies such Disney, Microsoft, Nike, and McDonalds are just some of the many who are adapting to changing times.
The examples and adoption of Blockchain Infrastructure projects are occurring daily. As it becomes more common, more of the traditional companies will be joining the revolution of decentralizing power and decision making, and increasing transparency and trust. With more interest and capital moving into the cryptocurrency space, the industry is ripe for growth.
How are developers trying to make Blockchains more efficient?
To compete and overtake the traditional systems, Blockchain networks must become highly scalable, while maintaining the decentralized and secure nature. Different companies and projects aim to contribute to this space by not only by making their own Blockchain Platforms, additionally, by making current chains more efficient. They do this through improvements on different foundational levels of the Blockchain, which are as follows:
Layer 0’s: The components that allow the Blockchain to work. Such as the hardware, the internet, and other connections.
Layer 1’s: The foundational layer, consensus protocol, blockchain time, programming, and conflict resolution process.
Layer 2’s: Built on the primary layer to optimize scalability. Third party integration that operates with the base blockchain. Allows for more computers to join the network and can work faster.
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