Truefeedback

A brief introduction about blockchain, surveys, and TrueFeedBack solution. It has been more than 10 years since the emergence of Bitcoin. Bitcoin was designed to be a peer-to-peer payment method, however, the technology it brought was developed further in the past years. Ethereum, for example, introduced the smart contracts to the blockchain and that opened up new ways for using blockchain in real-world cases. So that the blockchain technologies are not just for peer-to-peer payment anymore. Smart Contracts and Live Contracts enable developers to develop decentralized applications (DAPPs) on the blockchains. Blockchain is still developing and its full potential is yet to be discovered, so the upcoming years will show the world what it is capable of. That is why so many experts state that Blockchain’s current situation is similar to the Internet in the ’90s.

What made blockchain technologies so popular? This question does not simply have just one answer. One of the biggest reasons is that blockchain transactions are anonymous. Even though every transfer can be traced on the blocks, the addresses are not related to any personal IDs and that makes cryptocurrencies anonymous. However, the traceability might cause disclosure of the identity if an investigation is carried out very carefully. Therefore, there are fully anonymous blockchains which were developed like Monero in which transactions cannot be traced all the way down. Therefore, spending money anonymously without being watched attracted many people to Bitcoin. Another reason was the volatility of the cryptocurrencies. Many people made a fortune due to volatile markets and that attracted too many investors into it. Market cap for crypto money ecosystem has reached to approximately 850 billion USD in late 2017. This shows the growing appetite of investors into the cryptocurrencies. Smart contracts and their applicability to real-world businesses are also another reason for people’s attention to the blockchain.