Sure, blockchain technology might be considered to be the brains behind Bitcoin, but that doesn’t make the concept any easier to grasp. There have been a few people who have come forward and said that they fear the world is investing in cryptocurrencies without fully understanding what they are. This is how I feel about blockchain. Apparently, I’m not the only one.
The thing about blockchain is that just when you think you understand it, something new emerges and you feel, at least some do, that you have to start the learning process all over again. However, thanks to one of the agencies apart from the U.S. Department of Commerce, we might not have to keep going back to the blockchain books everytime we see a new headline regarding the technology.
The National Institute of Standards and Technology just released an overview document which focuses primarily on blockchain technology. As there have been, and will continue to be, a number of companies moving into the blockchain industry, I’m sure the National Institutes overview on the technology will be extremely helpful. Not only does it give a broken down overview of the technology, but it also goes into details regarding the characteristics of blockchain as well as its limitations and what the common misapprehensions are.
The document covers a number of concepts, starting with the history and background of blockchain technology and ending with the technology’s limitations and misconceptions. One important thing to keep in mind is that this document was composed in order to help beginners, so don’t expect to uncover any brand new information. Most of what is included in the document can be found throughout the Internet. However, this time, it’s actually composed in a way that is simple and easy to understand.
Personally, I cannot recommend this document enough. I know what it is like to need to take a couple steps back when reading about the latest blockchain applications. It can be confusing and intimidating, but I promise this document will make things ten times easier for you.
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