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The Cloud Innovation was responsible for creating an ecosystem of nearly one trillion dollars. But it was only the first step. Blockchain is the next logical iteration of the computer.

Cloud was the first movement to move away from centralization. Businesses needed to store files and access the processing power for applications with sufficient network bandwidth for day-to-day use. However, the server rooms required maintenance, constant security, proper provisioning, and regular updates. By moving servers off-site (or in the cloud), organizations could extend their operations beyond hardware chains.

Today, companies can create offices virtually anywhere and even hire remote workers. Computers and smartphones are simply bridges to more concentrated processing power elsewhere.

The Decentralized Cloud Effective

Now, Blockchain introduces the second iteration of the computation structure. Thanks to a distributed accounting system, Blockchain has created secure, immutable and democratic networks of calculations. This could lead to non-pirated Web programs and services, transparent networks and greater system reliability.

Blockchain Decentralizes Computing

Blockchains use minors to solve mathematical problems and reach consensus. Mining participants praise their computing power at the Blockchain network in exchange for cryptocurrency rewards. Collectively, they build the network and verify the creation of additional "blocks". Miners groups are a system of nodes in the network that stores and processes the data. Miners have computer pools around the world that allocate their processing power to:

Retain a complete copy of the Blockchain

Verify and Process Transactions

] Launch applications / smart contracts

Ethereum, one of the most popular blockchain platforms, allows developers to access the Blockchain via the Ethereum Virtual Machine (EVM) . The EVM provides developers with tools to build decentralized applications or Dapps. These applications use the Blockchain to host their backend processes.

Instead of an application running on a single server. Dapps are divided into fragments, a bit like a torrent, and run simultaneously. Many computers run pieces of a program with many redundancies. These programs are a command-based register that constantly checks the code. No computer has the full backend of the application, so it becomes almost impossible to hack or corrupt.

Unlike cloud computing, the decentralized Blockchain does not need to live in a server room. Cloud applications typically support redundancy on a handful of nodes, but nothing near the thousands of nodes working on networks like Ethereum.

The Cloud has moved servers from corporate campuses and centralized processing power elsewhere. Blockchain reduces processing power and disperses it all over the world.

Blockchain exploits the computer power of the Internet to demolish the fictional belief that cryptocurrency is worthless, a bubble or the latest mode of technology. The truth is, cryptocurrency can act as a smarter and safer barter system that improves the delivery of technologies and Internet applications. With Blockchain, we can create a voluntary network, an Internet / cloud 2.0, that enhances IT security and lends itself to advances in computing, AI, IoT and keeping of files. This is a multi-billion dollar solution to the problems of all vertical markets and we are only skimming the surface.

The opinions and interpretations of this article are those of the author and do not necessarily represent those of Cointelegraph.