@Delioos

Introduction

Despite the recent rise of artificial intelligence, the blockchain remains a hot topic in the world of technology. Everyone talks about it, dreads it or speculates about it. But at the end of the day what is it good for?

Let’s explore the practical uses of this revolutionary technology, which has the the potential to transform many sectors.

A free digital currency system

When we talk about blockchain, Bitcoin is often the first name that comes to mind. This pioneering cryptocurrency was created with the aim of the tyranny of financial institutions and bank robberies. Using the decentralization and security of the blockchain, Bitcoin offers a free digital currency, enabling everyone to control everyone to control their financial assets outside traditional borders.

A simple Internet connection is all it takes to become the sole master of your funds.

Revolutionary in its “simplicity”, Bitcoin’s purity is unparalleled. But its simplicity nature runs counter to the development of complex applications.

The arrival of Solidity

With the appearance of Ethereum and its programming language Solidity in late July 2015, blockchain reached a new milestone. Smart contracts (contracts deployed on the ethereum blockchain) make it possible to develop complex decentralized applications capable of solving real-life problems. The ERCs (Ethereum Request for Comments) introduced into the protocol have opened up new possibilities, offering a dynamic and scalable ecosystem for developers.

The introduction of NFTs (Non-Fungible Tokens)

To simply put, an NFT is simply a special type of token which represents a single, indivisible asset. These tokens make it possible to open new doors in the world of art, physical property and many other property and many other areas that we will explore here.

Virtualized art

In the art world, NFTs have enabled artists to monetize their work in an unprecedented way. They can create and sell unique digital pieces of art in the form of NFTs, offering exclusive and verifiable ownership of these creations. This has also opened up opportunities for artists to earn royalties with each resale of the work on the secondary market. To take a look at trendy collections, from various domains, you can use opensea (the market leader). If speculation is the more attractive aspect for you, check the competitor blur. They have a great system for mass buying and lending (plus it’s decentralized).

Object traceability in gaming

The video games have suffered for years from problems such as inventory hacks and dubious resale platforms. However, thanks to NFTs, these problems can be solved in innovative ways. Take Treeverse as an example, a game inspired by classics such as Zelda, Dofus and Genshin Impact. It uses NFTs to manage faction real estate (the treeverse plots) and player skins (the Timeless Characters collection). The NFTrees are at the heart of the gameplay, allowing players to own unique and assets.

An other gaming-oriented promising project is Noobizes, a platform that aspires to replace established gaming entities like Faceit. Thanks to the use of game APIs and anchoring party scores in the blockchain, ”Noobizes ensures fair and transparent competition”. Tournament-winnable NFTs and tokens could bring a real cashflow for the most determined players, making it possible for them to live from their passion.

Passes, membership cards to join DAOs

The DAOs (Decentralized Autonomous Organizations) are decentralized autonomous entities that operate on the blockchain. To access these communities, NFTs can be used as passes guaranteeing membership of exclusive circles and transparent community governance.

Fair remuneration for musicians

The blockchain offers solutions for complex problems, such as equitable remuneration for musical artists. Projects like Bolero use blockchain to enable listeners to fund small artists directly, by bypassing intermediaries and ensuring a fairer distribution of the income generated by music.

Tracking funds for associations, governments

The blockchain has the potential to revolutionize fund management for social-profit organizations, and even governments. For example, the recently publicized case of the Marianne fund, where money intended to radicalization was used in a dubious manner, could be avoided thanks to total traceability of funds on the blockchain. This technology would enable unprecedented transparency, reassuring citizens as to the use of the funds collected.

Conclusion

The blockchain is more than just a technological trend, it has the power to profoundly transform our society. From free digital currencies to revolutionary NFTs to complex decentralized applications, blockchain offers innovative solutions for real-world problems. As the technology continues to grow, we can expect new use cases to emerge, changing the way we interact with our digital world. interact with our digital world.