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Special Round 2

drawing

Introduction

The blockchain industry is rapidly developing, and when we say rapidly it means incredibly fast. As a lot of people might tell, one month in crypto has so many events, news, and product releases that it feels like years if to compare with other industries. Since Bitcoin creation, a lot of fascinating ideas were developed and irreversibly changed the industry landscape.

If we look back, we can see how Bitcoin evolved from being “digital currency” to being considered “digital gold”. In 2010 Bitcoin ecosystem got its first cryptocurrency exchange, Mt.Gox, then the first Bitcoin-based “fair casino” BitDICE was launched in 2012. In 2014 the concept of web3.0 and Ethereum was presented to the world and in 2017 it led to a great shift forward, despite all the problems that were out there - ICO scams, exchange hacks, and market manipulations. The 2018 and 2019 can be considered as years of the industry maturing - first real use cases besides ordinary money transfers go live, for example, whole “new finance world” presented by #defi applications and blockchain games.

Polkadot

In 2017 it already became clear that the value of isolated blockchains is limited in comparison to the system of interconnected blockchains that can exchange value and information between each other. To solve this issue several blockchain interoperability projects were started back in 2017-2019 wherein Polkadot plays an important role. Founded by Gavin Wood, the Ethereum co-founder, Polkadot is based on the concept of “heterogeneous sharded multichain” and aimed to create “Internet of Blockchains”. The “Internet of Blockchains” is an ecosystem where blockchains can seamlessly exchange value and information. The existence of such a system would allow creating a big variety of blockchain applications that will be able to work with assets and smart contracts based on different chains. This opens up tremendous opportunities for building financial, social and other applications that will be trustless, privacy-oriented and secure. Based on this, the Akropolis team chose to build a product on top of Polkadot along with more than twenty blockchain teams, developing completely different services.

So, what will be next? Your imagination is the only frontier as things really change very fast. We cannot see the future but we can look at the past to find the most prominent people, ideas and products developed by them. Let’s check out your knowledge about it?