From 2016, a wealth of new ideas and perspectives have entered the blockchain arena. New projects with a more scientific approach have become the norm, with cryptography developed by academic research teams using math that can be formally verified to prove that their blockchains are for all practical purposes unbreakable. Projects such as Concordium, Cardano, Tezos, Zilliqa, RChain, Dfinity and Algorand show that the real future for blockchain reaches well beyond cryptocurrencies. It has more to do with global, secure logging and storing of transactions of every sort. Its power is its potential ability to immutably document those billions of deals conducted online by millions and millions of users at every level of society. Now, to be successful, new blockchains must deliver on requirements well beyond the simple ability to move tokens between anonymous parties and instead develop technologies that support a very wide range of business requirements.
In the estimation of the Concordium Foundation and the Concordium team we are at the threshold of a new paradigm in blockchain development––one that will change the overall tenor of the space and leave older blockchains and cryptocurrencies behind in the wake of a new generation of more business-focused projects.
The sheer scale and scope of this opportunity is magnitudes larger than the current cryptocurrency market, which, despite the hype, in reality comprises an industry with a combined market cap smaller than that of Apple or Google.