It’s easy to think we’ve reached peak Bitcoin, but the blockchain at the heart of cryptocurrencies contains the seeds of something revolutionary.
The blockchain is a decentralised electronic ledger with duplicate copies on thousands of computers around the world. It cannot be altered retrospectively, allowing asset ownership and transfer to be recorded without external verification.
Investors have now realised the blockchain is bigger than Bitcoin. In the first quarter of 2016, venture-capital investment in blockchain startups overtook that in pure-play Bitcoin companies for the first time, according to industry researcher CoinDesk, which has tallied $1.1 billion (£840m) in deals to date.
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