If Blockchain and Cryptocurrencies are so great then why aren’t more people interested?

Being a newbie to the crypto-blockchain revolution/evolution, I bought my first bitcoin in 2017 and since then it’s been an ever-expanding, fun, and at the same time a little overwhelming, learning experience.  I remember reading the directions three times before buying bitcoin on Coinbase and then another three times when I had to transfer it to my wallet!

I wanted to be around other like-minded folks, so I joined a local meetup, Hampton Roads Blockheads (if you are interested in learning more, come check us out!).  At the last Virginia Beach meeting at the local Bahama Breeze the conversation shifted to the topic of awareness and getting more people interested, which then led to an impromptu poll of our gracious waitstaff to see if they were familiar with bitcoin and blockchain.  Both of them were, but didn’t know anything about it other than anecdotes about Rapper 50 Cent becoming a bitcoin millionaire!

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Process synchronization in blockchains

Distributed blockchain technologies such as bitcoin have a consensus mechanism used to synchronize the transaction ledger, but some of the newer chains, such as Ethereum, actually run a turning complete virtual machine on the blockchain, and process synchronization is important to make sure that smart contracts are computed properly. For those of you unfamiliar with Ethereum, the purpose of these smart contracts is to programmatically define the rules of a business contract, whether as a simple exchange of tokens or as more complex operations such as escrow. Last fall, the Ethereum network was brought to its knees by the popularity of a virtual cat breeding application called Cryptokitties, which allowed users to buy, breed, and sell virtual cats. All of the data for the application and all operations were performed and stored on the Ethereum blockchain. Other notable uses for Ethereum include decentralized exchanges, where users can buy and sell Ethereum’s ERC20 tokens with others over order books and transactions that are maintained on-chain.

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Introducing SEVAITS Blockchain

Hello and welcome to SEVAITS Blockchain, I’m Michael Wade, president, and founder. I first used the internet in 1994, and I’ve been a technology career professional for over 20 years. I am excited about blockchain and crypto-asset technologies like Bitcoin and Ethereum and the immense opportunity that is before us. Crypto-technology will transform how governments, banks, organizations, business and individuals operate, and will have an impact even greater than the internet has had on our everyday lives. It’s here to stay, and we’re still at the very early stages of adoption. That’s why we’re focusing our core business on blockchain and cryptoasset technology. Our constant research into the field and professional connections will allow SEVAITS Blockchain to be your trusted advisor in the new and exciting field.