30s Summary

Blockchain has evolved from being associated solely with Bitcoin to being a multi-faceted tech ecosystem, influencing sectors like gaming, supply chain, and AI. Bart Wyatt of the Eos Network Foundation speaks on a “Decentralize with Cointelegraph” podcast episode about blockchain’s journey from hype to revolutionary tech, highlighting the transition towards real-world problem-solving applications. Wyatt underlines projects like OmniProtocol and Eos Network and their focus on scalability, transaction speed, and improved governance. Notwithstanding earlier limitations, he credits crucial lessons learned for the creation of robust platforms supporting disruptive decentralized applications across industries.

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In the last ten years, blockchain has radically changed. It’s no longer just viewed as the tech behind Bitcoin, but a whole ecosystem that powers multiple industries, not just finance. The blockchain world has grown to include smart contracts, unique digital assets called non-fungible tokens, decentralized identities and other cool applications in gaming, supply chain, and even artificial intelligence. In other words, blockchain has become a big player in shaping the digital future.

On an episode of the podcast “Decentralize with Cointelegraph”, Savannah Fortis chats with Bart Wyatt, the tech whiz of the Eos Network Foundation, about how blockchain has evolved from a trendy term to a revolutionary tech that’s shaping a future where decentralization is the norm.

In the early days, the world of blockchain was wrapped up in a lot of hype, with a major focus on volatile investments and the rapid rise of cryptocurrencies. While that kind of excitement is still there in today’s blockchain industry, there’s now more emphasis on practical uses as the tech has matured. Wyatt talks about how blockchain isn’t just about finance or even shady schemes. Yes, the bad stuff does exist, but blockchain’s truly powerful for a whole lot more.

According to Wyatt, a big turning point came with his work on OmniProtocol, which led to the creation of Tether’s USDt (USDT), a stablecoin that brought some much-needed stability to the rollercoaster world of crypto. He highlights how projects like the Eos Network, where he played a pivotal role, show how blockchain shifted from all talk to solid action. The developers were focused on fixing real-world problems like how to scale up, speed up transactions, and improve governance.

Despite early blockchain projects having limitations, Wyatt says the lessons learned during those formative years have helped to create more robust platforms capable of supporting decentralized applications that can revolutionize industries from finance to gaming.

So, if you’re interested in hearing more about the evolution of blockchain technology from a guy who’s been at the frontline, check out the full episode of “Decentralize with Cointelegraph” on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your preferred podcast platform. Plus, don’t forget to check out all the other awesome shows on Cointelegraph.

Source: Cointelegraph