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Blockchain Generations

The document outlines the evolution of blockchain technology across three generations: 1st Generation (Bitcoin and other cryptocurrencies), 2nd Generation (Ethereum and smart contracts), and 3rd Generation (Cardano, Cosmos, and enhanced governance). Each generation addresses specific challenges such as scalability, interoperability, and governance. The 3rd Generation introduces solutions like sharding, cross-chain transfers, and token holder voting for improved functionality.

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12 views15 pages

Blockchain Generations

The document outlines the evolution of blockchain technology across three generations: 1st Generation (Bitcoin and other cryptocurrencies), 2nd Generation (Ethereum and smart contracts), and 3rd Generation (Cardano, Cosmos, and enhanced governance). Each generation addresses specific challenges such as scalability, interoperability, and governance. The 3rd Generation introduces solutions like sharding, cross-chain transfers, and token holder voting for improved functionality.

Uploaded by

Chris
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Blockchain

Generations
1st Generation
Blockchain
Blockchain 1.0 - Bitcoin
In a nutshell we can call this Crypto Currency. This
generation came up with the birth of Bitcoin in 2009. It
enables value transfer between individuals, correct peer-
peer transfer, no middle man, bank etc. Just exchanging
values between peer-peer, nothing else.
1st Generation
Blockchain.
Other blockchain networks that fall under this
category are dogecoin and Litecoin.
They are mainly cyptocurrency networks.
2nd
Generation
Blockchain.
Blockchain 2.0 - Ethereum
In a nut shell, we can call this Crypto Economy, it came
about with the birth of Ethereum in 2015. This has to
do with the introduction of Smart Contracts
into the blockchain network,
that is the conditional transfer of data and value.
2nd
Generation
Blockchain.

This generation also gave rise to ERC20 which is a


standard used for creating token smart contracts on the
Ethereum network.
Why another need for
improvement?
Both the 1st and 2nd generation had some
lapses or problems they could not solve

Scalability

Interoperability

Governance or sustainability
Scalability
Simply refers to the limited capability of the
networks to handle large amount of transaction
data on it's platform in a short span of time.

Interoperability
Interoperability enables blockchain to share and
access their data and interoperate with one another.
The ability through which blockchains share and
communicate with each other is called blockchain
interoperability.
Governance/Sustainability

How are decisions reached regarding


the blockchain protocol it's upgrade?

What if Node owners dont


agree?
What if Users don't agree?

What if Developers dont


agree?
3rd
Generation
Blockchain
Blockchain 3.0 - Cardano, Cosmos, Solana,
Ethereum 2.0, etc.
In a nutshell this can be called crypto society . This
generation is more flexible , you can run governance on
them, stock market, voting system, social network payment
and financial operating systems.
How does the 3rd
Generation solve the
three lapses?
SCALABILITY
Eth 2.0

Sharding Share network traffic accross nodes

Rollups Execute transaction off or outside the main Blockchain


INTEROPERABILITY
Cardano & Solana

cross chain
Tranfer NFT from ETH 1.0 to cardano
bridges
GOVERNANCE
Cardano

unchained Every single token holder


governance can vote for proposals
Summary
G1 - Crypto Currency.

G2 - Crypto Economy.

G3 - Crypto Society.
Question &
Answers.

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