Blockchain’s Next Frontier: Cloud Computing?

Blockchain, in its more popular form, is a technology built using a peer to peer network. It is a decentralized operating system that anyone can join or leave as they wish. This technology can be utilized in a multitude of ways, ranging from cryptocurrencies, to media streaming, cloud storage and much more. It is run and operated by people who lend their computing power to the network and function as miners. Their computing power allows the network to function. The machines run by miners are in a constant race to solve a complex algorithm, SHA-256 if we were discussing Bitcoin’s blockchain, that facilitates the movement of data throughout the network. To solve these complex algorithms a massive amount of computing power is required. An estimated 27.2 million TH/s were performed on the Bitcoin network for May 13, 2018. As a reward for lending their computing power, miners receive a fee each time they successfully mine a block. Blockchain has become synonymous with…

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