Blockchains Are the New App Stores

It’s become impossible to not have the attention of cryptocurrency and the technology supporting the industry. It’s become mainstream and there seems to be no clear stop of the disruption. It can feel like there are new cryptocurrency projects up popping every day, and that might be because they are. Entrepreneurs are quickly recognizing opportunities to build within this wild west-type financial technology landscape.

A new wave of possibilities for entrepreneurs has risen and the rush to innovate creative solutions for business sectors is just starting. Cryptocurrency and the industries surrounding it have paved the way for real-world contributions, calling for even more disruption in industries that have lacked technological progression in the past. This innovation is everywhere and it’s enabling flows of information and calling for more transparent and secure business solutions.

Now more than ever is the time to be building cryptocurrency application solutions. Entrepreneurs are not acting slowly on real-world change, rather they are expediting how business is being connected across all industry sectors around the globe. These contributing factors are proving real-world use cases in the world of business.

 Let’s explore how blockchains are enabling decentralized applications on the internet today.

Non-Fungible Tokens (NFTs)

These digital social tokens have become the latest craze. From collecting the most valuable artwork to raising money for charities, NFTs have facilitated the commoditization of media assets. NFTs are digital assets which represent digital content on blockchains. Currently, the most common NFT use cases are media assets such as artwork, music and in-game items. They are minted or created and then can be traded, bought and sold either person to person or through marketplaces. The digital media assets are stored on whichever blockchain they are deployed and are held within a person’s digital cryptocurrency wallet. 

March 2021 made history for NFT enthusiasts as the most expensive digital artwork was minted and sold. Beeple, a famous digital creator, sold a collage for $69.3 million at an auction. This proved legitimacy across the entire digital creator economy and provided hope to digital creators around the world. Nowadays, it’s common to see CryptoPunk NFT avatars selling for hundreds of thousands of dollars.

NFTs provided digital content creators the bustling opportunity to monetize their work online. Digital artists no longer need to rely on physical galleries for sales, they now have the opportunity to sell directly to art fanatics around the world without paying hefty gallery or auction fees. Online marketplaces for NFTs also allow for royalties to be encoded within the deployment, meaning if the artwork is resold by the original buyer, the artist will continue generating revenue on the digital artwork.

Decentralized Autonomous Organizations (DAOs)

Just as any traditional organization where members work together towards common goals, DAOs are distributed and autonomous in nature. These organizations collaborate within digital communities, with each and every member holding an important function in the organization. Blockchain technology enables hashed and trusted transactions of value exchanges, allowing for a safe and effective way to work with like-minded folks around the globe to work on a common goal.

DAOs typically use coded rules to operate.  These coded sets of operations allow for financial transactions and rules of operations to be created within a smart contract and recorded on a blockchain. A smart contract can represent the encoded rules and operations. Not one single person can manipulate the rules without community members being alerted because of the public and transparent nature of smart contracts on a blockchain.

In comparison to traditional companies, DAOs have a democratized organization. Team members of a DAO can vote for alterations of the organization’s future, rather than a sole member of a traditional organization making executive decisions. DAOs generally issue tokens through crowdfunding. These tokens then control the governance of the DAO versus a traditional company’s governance being handled by chief executives and board of directors. Be on the lookout for new DAOs popping up all over the cryptocurrrency landscape.

Digital content creators

The cryptocurrency community has seen a clear shift in how users create and distribute their content online. From influencer to empire, digital creators have used their followings on social media platforms to generate value, which ultimately generates revenues for their personal brands. The cryptocurrency industry has witnessed a rise in non-fungible tokens (NFTs) as a form of displaying ownership of content creation and distribution. Driven by increasing connectivity, the role of the digital labor market is on the rise. Cryptocurrency users are finding technological innovations, which assist in finding work through freelance platforms and outsourced labor markets.

The gig economy plays an important role in how remote workers are earning a living and some digital creators are becoming dependent on cryptocurrency for their income. The question arises in how creators are perceived as employees when freelancing becomes a driving force within the disruption of technological advancements. Managing the workforce ecosystem beyond traditional enterprises remains a mystery and organizations need to consider how to build company culture surrounding open talent economies.

Virtual 3D worlds

Metaverse experiences are gaining traction as more people socialize online, earn income from their content and build their own mini worlds. Decentralization in online 3D worlds is here. Decentraland is a virtual world owned and operated entirely by its user base. Users build worlds and can monetize their real estate all online. Nearly everything in Decentraland is an in-game item that can be traded, in this case, an NFT. This includes virtual plots of land which can be bought, sold, and traded.

Social tokens are springing up as decentralized social media networks become more popular every day. They make way for exciting ways for creators to make money online. Social tokens remove intermediaries who take large fees, which ultimately enables the development of mini economies that grow along with the fan base.

Decentralized Apps (DApps)

Emerging blockchain and cryptocurrency technologies are facilitating decentralized data networking, thereby leaping over central control and disrupting centralized aggregator-distributor platforms. Golem is a network for the decentralized management of computing power online. Golem can be viewed as the “Airbnb” for computer power. Users of the Golem network can allocate extra space on their hard drives along with free computing power to users who need the computer power for large machine tasks and are paid for renting their computing power with the currency Golem Network currency called GLM.

Blockchain paired with Artificial Intelligence (AI) will make for more accurate talent acquisition in the on-demand workforce and digital creator economy. For global job seekers, peer-to-peer network-based talent platforms assist with all forms of employee credential verification. This includes immutable and verified academic degrees, previous work experiences, professional references, intellectual property rights and trademarked content, professional certificates and awards — the list goes on.

Working towards a sustainable future in the cryptocurrency economy

We are witnessing one of the greatest wealth transfers from private ownership to personal and community-based ownership models. Brands no longer control the message, but instead, rely on reputable and trusted individual communities in order to spread messages. Attention has become the most valuable commodity amongst the vast amount of data being collected. What used to be the attention economy is now the creator economy. Building decentralized blockchain applications will lead the race to this new economy.

Internet Explorer Channel Network
News Related


10 must-have plus-size clothes to buy from Old Navy

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. I have no qualms admitting it: I love Old Navy. More ... Read more »

UK households offered £5,000 grants to replace boilers with heat pumps

The government recently announced that it will provide £450 million in funding to encourage households in England and Wales to install electric heat pumps. Over the next three years, it’s ... Read more »

New Microsoft 365 service identifies privacy risk before it's too late

Microsoft has announced new controls for Microsoft 365 that will help customers manage privacy of their users in accordance with the local laws. © Provided by TechRadar A representational image ... Read more »

Xbox series X stock - live: AO restock sells out – here's who could drop next

LIVE – Updated at 14:00 © iStock/The Independent Xbox liveblog hero Update: Argos has restocked the Xbox series X for collection in specific stores. Enter your postcode to check your ... Read more »

NASA's Deep Space Food Challenge awards $450,000 to first-round winners

© Provided by Space NASA and the Canadian Space Agency have teamed up for the Deep Space Food Challenge, which aims to spur new ideas about how to feed astronauts ... Read more »

China, space junk and more: Senators voice spaceflight concerns

© Provided by Space Cosmonaut Oleg Novitsky shared this photo of the International Space Station on Twitter on Sept. 29, 2021. He and two colleagues were relocating a Russian Soyuz ... Read more »

Challenge for astronomy: Megaconstellations becoming the new light pollution

© Provided by Space An astronomical image marred by trails caused by satellites of SpaceX’s Starlink megaconstellation. Satellite megaconstellations are quickly becoming a serious problem to 21st century astronomy akin ... Read more »

NASA's James Webb Space Telescope will face '29 days on the edge' after launch (video)

© Provided by Space Artist’s illustration of the James Webb Space Telescope with its massive sunshield fully deployed. NASA’s newest space telescope will face 29 “harrowing” days after launch as ... Read more »

10 incredibly stylish clogs to wear this fall

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. Walk down the shoe aisle of a department store, open up ... Read more »

Sony's WH-1000XM4 headphones fall to $248, plus the rest of the week's best tech deals

This week brought our first official early Black Friday sale, courtesy of Best Buy. While we expect to see even more of these events before we hit Black Friday proper, ... Read more »

Best smart home devices 2021: automate your home with these gadgets

The best smart home device will ensure your property offers the perfect environment without you having to lift a finger. Whether you want the light dimmed to a certain level, ... Read more »

Trump's social network was defaced before it even launched

It took only a few hours for pranksters to find and deface a test version of former President Trump’s yet-to-launch social media platform called TRUTH Social. According to The Washington ... Read more »

The Verge Merch Store is back!

The Verge is celebrating its 10th birthday on November 1st, so we thought this would be the perfect occasion to relaunch our online merch store! Check out the store here. ... Read more »

Engadget Podcast: Apple's new MacBook Pros, the Pixel 6 and the Surface Duo 2

Techtober continues with a deep dive into Apple’s latest MacBook Pros, powered by the new M1 Pro and M1 Max chips. Cherlynn and Devindra also chat about what’s new with ... Read more »

Micro Center leaks specs and pricing for Intel's new Alder Lake Core i9 CPU

© Illustration by Alex Castro / The Verge Even though someone managed to secure early purchases of a couple of Core i9-12900K CPUs, we still didn’t have detailed information about ... Read more »

Someone got their hands on the unannounced Intel Core i9-12900K CPU

The Intel Core i9-12900K hasn’t even been announced, but someone got their hands on a pair of them. © Provided by Windows Central What you need to know A Reddit ... Read more »

Everything you need to know about the new Surface Duo 2

© Windows Central Surface Duo 2 Hero Got questions? We’ve got answers! Microsoft’s Surface Duo 2 is now officially available. Just like last year, we’ve compiled a mega list of ... Read more »

Haunted Chocolatier looks like the perfect follow-up to Stardew Valley

The creator of Stardew Valley has announced the title of his next game: Haunted Chocolatier.  © Provided by TechRadar Haunted Chocolatier logo on a starry backbround In Haunted Chocolatier, you’ll ... Read more »

Fury over 'absurd' GP plans to 'STRIKE'

© Provided by Daily Mail MailOnline logo Doctors in England were today slammed for threatening industrial action over being ‘asked to do the very basics’ of their jobs, amid a ... Read more »

This Google Workspace update might finally help you be productive working from home

Making the distinction between work and personal apps should be more straightforward thanks to a new update coming to Google Workspace. © Provided by TechRadar laptops The online collaboration suite ... Read more »

Zenfolio is now offering its website builder service to UK photographers

Popular website builder for photographers, Zenfolio has launched a new platform for its UK clientele, six months after the company unveiled its new solution in the US. © Provided by ... Read more »

REvil ransomware gang taken offline by multinational effort

In a welcome move, sources have confirmed that the recent troubles plaguing the notorious REvil ransomware operator are the result of a concerted effort by various cybersecurity agencies. © Provided ... Read more »

This futuristic electric motorcycle is built for the moon

NASA is looking for new rovers for its new Artemis space program, and German design company Hookie thinks it has the perfect solution: a lunar electric motorcycle. © Provided by ... Read more »

Google Pixel 6 Pro

After months of teasers and semi-reveals, the Google Pixel 6 Pro is now officially here, with the company confirming every detail about the new handset, as well as how much ... Read more »

LG CX and GX OLED TVs now support 4K@120Hz with Dolby Vision

LG has begun rolling out a Dolby Vision at 120Hz firmware update for its 2020 CX and GX OLED TVs, just as it promised it would. © Provided by What ... Read more »

How to migrate your Mojang account to a Microsoft account

© Provided by Windows Central It sounds complicated, but it’s not. Minecraft developer Mojang recently began encouraging players to migrate their Mojang accounts to Microsoft accounts. The primary reason for ... Read more »

Tech Tent: The world in 2031

© Getty Images Will robots take over most tasks from manual workers over the next decade? Will we find innovative new energy sources to help us battle climate change? And ... Read more »

After 60 years, a mysterious Australian dinosaur just got downsized

In the 1960s, Australian coal miners stumbled across huge, bird-life footprints protruding from the ceiling of their subterranean work site in south-eastern Queensland. The marks, more than a foot long, ... Read more »

The best Nectar mattress sales and discounts in October 2021: get 40% off

The Nectar mattress sale is offering discounts on the brand’s popular memory foam models for all sleeping positions. In the UK, a new flash sale for Halloween means you can ... Read more »

An update on the Roku-YouTube standoff: Talking Tech podcast

Hit play on the player above to hear the podcast and follow along with the transcript below. This transcript was automatically generated, and then edited for clarity in its current ... Read more »

Get a massive £800 off the LG C1 OLED TV right now and beat the Black Friday rush

The hunt for the best TV deals this Black Friday has begun way ahead of schedule as the independent retailer Sevenoaks takes an early lead with a terrific low price ... Read more »

DNS attacks are targeting more businesses than ever

Domain name system (DNS) attacks, a threat usually de-prioritized in comparison to ransomware, malware, Distributed Denial of Service (DDoS), and targeted hacking, are on the rise, and businesses are taking ... Read more »

Giant owl not seen in 150 YEARS is spotted in a rainforest in Ghana

© Provided by Daily Mail MailOnline logo A giant owl that hasn’t been seen in the wild in 150 years has finally been spotted in a rainforest in Ghana — ... Read more »

Six ways to improve data science in the cloud

The data science market is flourishing, with an increasing number of companies across sectors placing data at the forefront of their digital transformation strategies. The rise of data analytics has ... Read more »

Amazon's big Samsung sale includes laptops, watches, phones and storage

Amazon’s deal of the day is all about Samsung today, with products on sale ranging from laptops to Galaxy S smartphones to storage. That includes a 30 percent discount on ... Read more »

Best Lightroom alternatives of 2021: Free and paid, for Windows, Mac, Linux, and online

The best alternatives to Adobe Lightroom make it simple and easy to manage images, image processing, and image storage. © Provided by TechRadar Lightroom software running on a laptop. This ... Read more »

Optional update for Windows 11 fixes L3 caching issue affecting AMD CPUs

© Windows Central Ryzen 5 PCs with AMD Ryzen CPUs should now perform as expected when running Windows 11. What you need to know Windows 11 has an optional update ... Read more »

Intel's unreleased Core i9-12900K processor goes on sale early

Intel hasn’t even officially announced its new Core i9-12900K processor, but it’s already been sold by a retailer. The unreleased CPU is expected to be the flagship for Intel’s new ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic