Bitcoin shook the world when it was created. By that I don’t mean that it was a shocking thing or that it got a lot of press when it was becoming popularized. Rather, I mean that its creation and release laid the groundwork for a new generation of art, technology, and innovation, among many other things. Bitcoin is influencing the future, and we’re already seeing its effects.
You might have heard all the hype around Non-Fungible Tokens (NFTs). This new technology utilizes the Ethereum blockchain to make digital art unique and traceable. The Ethereum blockchain arguably resulted from the surge of Bitcoin’s popularity.
This development has completely changed the art world. No longer is digital art theft unpreventable. Now artists can protect the authenticity of their work with traceable tokens. This is something that, just like a lot of digital currency technology, will be constantly developing. The art world has a lot to look forward to in digital currency because of Bitcoin.
Bitcoin set the standard for amazing cryptocurrency technology. Because Bitcoin grew so much in popularity, it paved the way for an entirely new community of digital currency enthusiasts. This created a wide variety of digital currency related jobs.
For example, there are lots of bloggers and journalists solely dedicated to writing about virtual currency and blockchain technology. There are also companies creating products or services related to digital currency. These developments give people interested in Bitcoin, technology or programming many opportunities to work with something they love.
One of the coolest things about bitcoin is that it can be traded by anyone, any time, anywhere. Because of the blockchain, secure and traceable transactions of your funds can be sent instantly over long distances. So you can send bitcoin to a business partner, friend or family member in another country without being worried about whether they received it or not (as long as you know you can trust them and you’re using the correct wallet address). This ability creates a better future for the safety of funds and allows easy global connection to one another.
Bitcoin is so appealing to people like programmers and investors because so many things can be built from its inspiration. Other digital currencies like Bitcoin Cash are direct results of Bitcoin technology. Once everyone saw and reveled in all the benefits of Bitcoin, they went on to ask themselves, “What else can we do with something like this?” or “How can we improve it?”.
Those involved in Bitcoin are nothing if not innovators (for example, Elon Musk). Bitcoin has led to countless altcoins being made and tons of companies being developed to solve problems and create new projects in the digital currency space. It obviously doesn’t stop here, and we should all be excited about what’s to come.
One of the most reassuring ways that Bitcoin is creating a better future is through the attention and development to internet safety. Without Bitcoin, it is likely that things like “smart contracts” would not have been developed.
Smart contracts allow people to make extremely secure deals and transactions to help prevent digital money theft, among other issues. Continued development of this will be necessary as scammers also try and learn new ways to scam.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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