The simplest and best definition of Blockchain technology is to think about it as electricity, you only see its applications but you understand how important it’s and know there are many applications and products that can run on it.
But like any other technology it went through stages and evolved as it progressed and matured. We started with Blockchain 1.0 and now we are at Blockchain 4.0.
In the following article we will explain each version of Blockchain:
Blockchain 1.0 – Cryptocurrencies
The Blockchain’s first-ever application was bitcoins. Blockchain has already established itself as the enabler of an ‘Decentralized Internet of Money’ by powering cryptocurrencies. By providing transparency, accountability, immutability and security, Blockchain very soon triggered the influx of more cryptocurrencies, and today we have more than 10,000 different cryptocurrencies in circulation.
1. Central Bank Digital Coin
3. Cryptocurrency (Bitcoin, Ethereum, Solana …)
4. Meme Coins (Elon Musk!)
*Maximum number Bitcoin is 21 million coins , we have ~19 millions in the market now
Blockchain 2.0 – Smart Contracts
With Blockchain 2.0 came the era of smart contracts that helped #blockchain to outgrow its original functionality of powering cryptocurrencies.
What is a smart contract?
· Smart contracts are essentially automated agreements between the contract creator and the recipient.
· Written in code, this agreement is baked into the blockchain, making it immutable as well as irreversible.
· They’re usually used to automate the execution of an agreement so that all parties can be sure of the conclusion right away, without the need for any intermediaries.
· They can also automate a workflow, starting when certain circumstances are satisfied.
One key benefit of a smart contract is the automation of tasks that traditionally require a third-party intermediary. For example, instead of needing a bank to approve a fund transfer from client to freelancer, the process can happen automatically, thanks to a smart contract. All that’s required is for two parties to agree on one concept.
Smart contracts have gained widespread appeal because they are tamper proof and lower the cost of verification, exception, arbitration, and fraud protection, in addition to permitting automated permission-less execution. Also, smart contracts allow transparent data recording, which is easily verifiable and provides the involved parties equal sovereignty over their deals.
The very popular Ethereum is a 2nd generation blockchain. For fueling the functionality of smart contracts, Ethereum is the go-to Blockchain for enterprises across industries, especially supply chain, logistics, and cross border payments.
Although a second-gen Blockchain, Ethereum has been continuously at the forefront, scaling up its offerings to expand the blockchain functionalities across industries. Ethereum is leading the way in everything from smart contacts to dApps, asset tokenization to DAOs, DeFi to NFTs.
Blockchain 3.0 – DApps
Blockchain 3.0 has been all about Decentralized applications (Dapps).
Decentralized applications (Dapps) are applications that run on a P2P network of computers rather than a single computer. dapps , have existed since the advent of P2P networks. They are a type of software program designed to exist on the Internet in a way that is not controlled by any single entity.
With a frontend user interface, calling to its backend smart contracts hosted on decentralized storage, DApps support various powerful blockchain use-cases like defi platforms, Crypto loan platforms, nft marketplaces, P2P lending and others.
Powered by new consensus mechanisms like Proof of Stake, Proof of History and others, 3rd gen blockchain protocols focused on areas like Speed, Security, Scalability, Interoperability and Environment friendliness.
For offering benefits like transparency, scalability, flexibility and reliability, the Global DApp market is expected to reach $368.25 billion by 2027. DApps have found applications across verticals like Gaming, Finance, social media, and Crypto transactions.
Blockchain 4.0 is focused on innovation. Speed, user experience and usability by larger and common mass will be the key focus areas for Blockchain 4.0. We can divide Blockchain 4.0 applications into two verticals:
• Web 3.0
The Internet is constantly transforming, and we are on our way to the third generation of internet services, which will be fueled by technological advances such as IoT, Blockchain, and Artificial Intelligence. Web 3.0, is focused at having decentralization at its core, therefore Blockchain plays a critical role in its development.
Web 2.0 has been revolutionary in terms of opening up new options for social engagement. But to take advantage of these opportunities, we as consumers have poured all of our data into centralized systems, giving up our privacy and exposing ourselves to cyber threats. Web 2.0 platforms are managed by centralized authorities that dictate transaction rules while also owning user data.
The 2008 global financial crisis exposed the cracks in centralized control, paving the way for decentralization. The world needs Web 3.0- a user-sovereign platform. Because Web 3.0 aims to create an autonomous, open, and intelligent internet, it will rely on decentralized protocols, which Blockchain can provide.
There are already some third-generation Blockchains that are designed to support web 3.0, but with the rise of Blockchain 4.0, we can expect the emergence of more web 3.0 focused blockchains that will feature cohesive interoperability, automation through smart contracts, seamless integration, and censorship-resistant storage of P2P data files.
The dream projects of tech giants like Facebook, Microsoft, Nvidia, and many more, Metaverses, are the next big thing for us to experience in the coming few years. We are connected to virtual worlds across different touchpoints like social engagement, gaming, working, networking and many more. Metaverse will make these experiences more vivid and natural.
Advanced AI, IoT, AR & VR, Cloud computing and Blockchain technologies will come into play to create the virtual-reality spaces of the metaverse, where users will interact with a computer-generated environment and other users through realistic experiences.
Centralized Metaverse entails more intense user engagements, deeper use of internet services and more uncovering of users’ personal data. All these almost likely means higher cybercrime exposure. Giving power to centralized bodies to regulate, control and distribute users’ data is not a sustainable set-up for the future of Metaverse. Therefore, much emphasis has been placed on developing decentralized Metaverse platforms that will provide user autonomy. Decentraland, Axie Infinity, and Starl, these are all decentralized Metaverses powered by Blockchain:
Also, Blockchain 4.0’s advanced solutions can help Metaverse users regulate their security and trust needs. Take the Metaverse gaming platform, for example, where users may purchase, possess, and trade in-game items with potentially enormous value. Proof of ownership through something as immutable and scarce as NFTs will be required to prevent forgery of these assets.
Blockchain 4.0 solutions can aid in the following Metaverse development requirements:
• Decentralized data management
• Digital Proof of ownership
• Digital collectability of assets (such as NFTs)
• Transfer of value through crypto
At the end Blockchain 4.0 will enable businesses to move some or all of their current operations onto secure, self-recording applications based on decentralized, trustless, and encrypted ledgers. Businesses and institutions can easily enjoy the basic benefits of the Blockchain.
Productivity Hacks for Remote Workers
It’s no surprise that these days, there seem to be more and more opportunities for remote work, and an increasing creation of “distributed” workplaces.
While the allure of working from home (or being able to work from “anywhere”) can be exceedingly appealing, let me be the first to tell you remote work is a lot more difficult than just casually sitting with your laptop on the beach.
When settling into remote work, there are a few different tricks you can use to be your most productive self, instead of feeling stressed, demotivated, and regretting the day you ever went “location independent.”
The Practical Aspects of Remote Work
There are a few different approaches to remote work these days. You may be a full-time employee to one company that allows you to work from home, or that doesn’t even have a specific headquarters, but instead has built an entire distributed team (think companies like Buffer). Or, perhaps you are a freelancer or contractor who may work with a number of different projects or companies where you are not required to be on location.
In any case, you may have opportunities to move around freely, or you’d rather stay put in one place. In the latter case, perhaps you choose to work from home or rent an office, or have a membership at a coworking space.
With many different options, how you do remote work is completely up to you. But there are some basic challenges that remote workers in every type of situation can feel. Staying personally motivated, reducing distractions, and being efficient in work execution are on the top.
For me at least, the key to being more productive while working remotely has been to admit when I’m struggling, and be aware of the conditions that I would like to work in, but just aren’t feasible for my productivity. Remote work solutions can be very individual depending on what motivates you, what kind of hours you like to keep, and what types of environments you thrive in.
Non-Tech Hacks for Remote Workers
Some of the best solutions for remote worker productivity have nothing to do with technology or fancy techniques. When thinking about how to be productive when working remotely, often the best thing to do is to start with the basics.
Stick to a Routine
You’ve probably heard this before, but it’s crucial for remote workers to create a routine, and stick to it. Some of us remote workers may be rebels when it comes to keeping to the ordinary, but routines aren’t boring, they’re necessary for being productive.
Without a routine, you can often waste a ton of time just figuring out what you want or need to do next. If you don’t have a schedule for your morning, like reading your emails by 9:30, checking and making your daily to-do list by 9:45, and getting started on completing your first task by 10:00, you may find yourself rounding 10:30 and all you’ve done so far is had four cups of coffee and checked facebook.
Routines create some semblance of structure, and structure is actually a really necessary component of being productive with remote work.
Create Some Variety
But sometimes too much routine or structure can stifle creativity and the execution of your best work. Monotony isn’t good for anyone’s work satisfaction, so find out how and where you work best. Variety may be sitting at your kitchen table to work for the morning hours, and then switching it up to your home office in the afternoon. Or, perhaps you find a coworking space that gives you a nice change of scenery a couple days a week.
Variety (with structure) can be good for helping you to get out of mental ruts, and can help to inspire you in some ways. Not to mention, if you are only working from home it can be at least slightly more difficult to hold yourself accountable when there is no one else there who can see you doing work, or for you to talk to and discuss ideas with. Even just getting out to a coffee shop to work from may be beneficial for your productivity levels.
Get Ready For Your Day
I’ll admit, I’ve had more than a few “Donald Duck” video meetings: I may be dressed professionally on top, with my hair done and teeth brushed, but out of the line of site of the camera, I may or may not be wearing pants. When working from home it can be so tempting to throw on the same sweatshirt you’ve been wearing for the past four days. But this can be detrimental to your productivity.
Getting up and taking a shower, getting properly dressed and ready as if you are going to the office, will get you in the right mindset for your work day. It can make you feel more awake, in a working mood, and it’s the first thing you can check off your list of accomplishments. When working remotely, you need to count every win.
Leave the House
It’s a common conundrum for remote workers: a whole day passes and you think to yourself, “have I spoken to another human today?” When working from home especially, you can sink into the bad habit of not getting out enough or interacting with others, but this can be problematic for your productivity.
Just getting out of your house, even to grab a coffee down the street, or taking a drive to the store, can be a quick and easy way to refresh your motivation and jump-start your energy. Not to mention that the benefit of remote work can be flexible, but sitting at home all day is not making the most of that benefit, no matter how much you enjoy the nonexistent commute.
Create a Hard Line between Professional Life and Private Life
When you aren’t being watched over by a manager, or there is no one really keeping tabs on the hours you keep, the problem isn’t always that you don’t work enough. The problem may be that you don’t set hard boundaries for what is work and what is personal.
In the beginning of my venture into working remotely, I found myself wanting to be eager, available, and seemingly always on top of things. What that translated to, was answering emails at all hours of the night, never really “logging off,” and finding the lines between my professional life and private life completely blurred.
But the fact is, it made me stressed all the time, and the companies I worked for didn’t really notice a difference in my work ethic. Work issues bled into my nights and weekends and free time until I felt that I was in work mode basically 24/7. And as it turns out, it killed my productivity when I needed it most.
Setting hard boundaries, and establishing the precedent to your company or customers about sticking to specific hours can be crucial for your motivation and also your sanity. Be sure to create that hard-line early on, so that you know when to be in productive time, and when you can (and should) relax.
Fill Your Time
As with procrastination, remote work has a fun way of making even small projects take up all the time you have available. The less busy you are, the less efficient you’ll actually be. When you have a lot to do, and a lot to fill your time with, that is when you’ll actually be your most productive.
Especially if you are just starting out freelancing and are still collecting projects to fill your docket, block your days for work, and then your days for doing errands or job searching, or whatever else you need to do. If you try to fill your 40 hour work week with only 20 hours of work, you’ll be slow, inefficient, and definitely not cost-effective. Try to get as much work assignments as you can, because when you can fill your time with actual work, then you will be more productive.
Tech hacks for remote workers
Remote workers would be nowhere if it wasn’t for the plethora of productivity and collaboration tools that are now available to us. While self-motivation and old school methods for productivity can create a good foundation, the tech will be your friend when working remotely.
Rely on Productivity Tools
Thankfully, productivity tools for that are beneficial for remote work are basically an industry in and of itself. There are many different options you can use for being the most productive.
Project management tools like Asana and Trello can help you stay the course when it comes to just getting things done. With these types of tools, you’ll have a good overview of what you need to complete and when, and at what stage each project is in, or if you need input from others to complete tasks.
Task management tools like Wunderlist and Todoist can be awesome for tackling to-dos, especially for visual people who like to look at a clear overview of what needs to be prioritized or if there are impending deadlines. Time trackers like Toggl and The Pomodoro Tracker can help you be more aware of the time you spend on different projects or just work in general and can help you to be better about being productive in sprints.
Limit Tech Distractions
While you should use tech to help you be more productive, sometimes those tools should work to actually limit the number of distractions you have, and what you have access to. Social media, email, RSS feeds, news notifications, personal messaging apps, and many others can cause major problems for remote workers. Use app blockers like Freedom or Self Control to ensure you can turn off the things that are not essential for getting your work done.
Collaborate as Much as You Can
While remote work lends itself to a lot of independence and autonomy, it can actually really help your productivity to collaborate with others. On one hand, working with a team that relies on you and vice versa can give you some accountability for completing tasks in a timely way. But it can also cure some of the side effects of working “alone” like basic loneliness, or mental blocks.
Collaboration tools make working with distributed teams a non-issue. In many ways, they can encourage us to be more efficient in our communication, and be very transparent in our work. Communication apps like Slack, doc sharing such as Google Drive, Dropbox, and Basecamp, and video conferencing with Zoom, or GoToMeeting, make collaboration easier than ever.
Remote work can be a great experience and can allow you to have freedom, flexibility, and autonomy like you’ve never had in work before. But it can be very easy to fall down a rabbit hole of bad habits, distractions, and lack of motivation. Be honest with yourself about the kinds of environments that are best for your productivity, keep routines and structure, and use the right tools to help you stay on top of your assignments, and you’ll have no problem being successful working remotely.
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