TABLE OF CONTENT
Blockchains are Cities
Blockchains are often considered networks, like the Internet or social media platforms. However, this analogy is misleading. In reality, blockchains are more like cities, with physical constraints limiting their growth capacity.
The reason why blockchains are like cities is that they are physically constrained. They cannot expand to infinite block space because blockchains require many independent small validators. If blocks were arbitrarily big, the blockchain would no longer be decentralized.
The published article “Blockchains are Cities” by Haseeb Qureshi has three paths to scaling blockchains: building up, using interoperability networks, and building new ones. Each approach has its pros and cons, and none is a complete solution. However, the last path, building new blockchains, offers the most promise for the future.
To fully realize the potential of blockchains, we must also recognize the importance of education and knowledge-building. With a deep understanding of the technology and its capabilities, we can utilize it powerfully. This is especially true for students and underserved communities with limited resources and opportunities.
The Importance of Exposure and Language Skills for Blockchain Technology
Studying abroad in first-world countries, where blockchain technology is already well-established and supported, can be especially beneficial for students. Being exposed to a different culture and educational system can broaden their perspectives and help them develop the skills they need to succeed in the field.
Furthermore, the fact that the language used in blockchain technology is English. It makes studying abroad even more crucial for students who need to be proficient in English. They will be able to research technology and improve their language skills, which is a vital asset in the global economy.
The Importance of Education and Opportunities for Underserved Communities
It’s important to note that building a stable workforce in blockchain technology is essential for the growth and development of the industry as a whole. It is not just about creating new technologies but also about creating new opportunities and addressing the needs of underserved communities. Developing countries, for example, can only shortcut and jump into the new economic system with a foundation.
As Haseeb Qureshi pointed out in his article ‘Blockchains are Cities’, there are several predictions that we can make about the future of the blockchain industry.
Six Predictions for the Future of Blockchain Technology
- Firstly, it is unlikely that one blockchain will dominate the market due to the physical constraints of the technology and the need for many independent small validators.
- Secondly, Layer 2 solutions such as L2 and rollups will become more popular as they help increase capacity but do not solve underlying congestion.
- Thirdly, interoperability networks like Polkadot and Cosmos will see more adoption as they allow for the creation of small, application-specific blockchains connected by a routing system.
- Fourthly, new blockchains will be built to reduce congestion and provide new opportunities.
- Fifthly, the role of governance will become increasingly important as blockchains become more like cities and require careful management.
- Lastly, the blockchain ecosystem will become more diverse as different blockchains serve different purposes and audiences.
Shifting Our Mental Model: Education’s Role in the Future of Blockchain
Blockchains are not just networks, and they are cities. And like any city, they have physical constraints that limit their growth. To fully realize the potential of blockchains, we must shift our mental model and approach the technology with a new perspective. Education and knowledge-building, especially for students and underserved communities, are crucial for the growth and development of the blockchain industry.
We call on organizations and governments to invest in providing opportunities for underserved students to study abroad. Gain the knowledge and skills necessary to compete in the global blockchain market and contribute to the growth and development of their communities.
The Economic Benefits of Studying Abroad for Vietnam
Studying abroad is not only important for personal growth and development. But also for the growth of emerging industries like blockchain. Just as blockchains have physical limitations that can hinder their expansion, so do educational systems. By investing in education and knowledge-building, especially for underserved communities, we can ensure that the blockchain industry has a well-trained and diverse workforce that can help to drive innovation and growth. Organizations and governments can help to facilitate this by providing opportunities for students to study abroad and gain the skills and knowledge necessary to compete in the global blockchain market. Let’s build a stronger blockchain workforce and leverage the power of International education.
#BlockchainsAsCities #StudyingAbroadBlockchain #BuildingABlockchainWorkforce
Link https://medium.com/dragonfly-research/blockchains-are-cities-564327013f86
