Many people argue that Cryptocurrencies are not really such a revolutionary innovation, as is the blockchain whereas in the stock exchange market they are investing in blockchain development companies.
Others, on the contrary, argue that only the blockchain without the Cryptocurrencies is not destined to go far.
But, as is often the case between two litigants, there is a third-party who enjoys; Indeed, they might be mistaken: what makes the Cryptocurrencies so innovative and the blockchain so revolutionary, is actually cryptography. In short, to be precise, the cryptography used in the computer networks is known as "asymmetric cryptography". Blockchain is only one of the many possible uses of asymmetric cryptography in computer networks, while Cryptocurrencies are only one of the many possible applications of blockchain. But, what makes blockchain and Cryptocurrencies possible is only asymmetric cryptography: without this there would be neither Cryptocurrencies nor blockchain, it is precisely the cryptography that one owes the main characteristics of these two technologies, which they are the guarantee of data authenticity and inviolability. By combining asymmetric cryptography with a peer-to-peer (P2P) network, Satoshi Nakamoto created Bitcoin and its blockchain, and for the first time in human history we were able to create a decentralized currency (and deflationary).
Possible uses of asymmetric cryptography
But, there are many possible uses of asymmetric cryptography. Some are not particularly revolutionary (such as HTTPS), others have not yet been invented. Asymmetric cryptography was even devised in 1970, i.e., one year after the birth of the Internet (which at that time was still called Arpanet). Up to 1997 it remained a secret, but since then it has begun to generate many innovations.
In addition to the Cryptocurrencies and the HTTPS protocol, asymmetric cryptography is also used for digital signatures. It can be used, for example, within a P2P network, to create other types of distributed decentralized records, which could also end up even surpassing the blockchain. The possibilities are immense, and we have just begun to discover them. To date, decentralized Cryptocurrencies are the most revolutionary form of innovation we have been able to create with asymmetric cryptography, but blockchain is only one of the technologies made possible by this innovation.
Therefore, at an evolutionary level, the limits of Cryptocurrencies or blockchain do not count that much: instead, the unexpressed potential of asymmetric cryptography is much more important. There is No point in discussing the fact that Cryptocurrencies or blockchain can really revolutionize the world: it makes more sense to ask whether asymmetric cryptography in computer networks can do that. The limits of the Cryptocurrencies and the blockchain is known now, those of asymmetric cryptography have probably not yet intuited them at all. In 1970 the inventors of this technology had no idea that a few decades later, someone would create a decentralized currency and deflationary thanks to its discovery, and most likely now, in 2018, we have no idea what can be created in the coming decades using the extraordinary features of asymmetric cryptography. What we should know, however, is that surely someone will try to invent something new, as Nakamoto did in 2008 and could end up revolutionizing the world even more than the inventor of Bitcoin.
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