Decentralized applications and smart contracts are powered by a new breed of internet infrastructure known as blockchain. Although often associated with Bitcoin, blockchain is actually a much broader technology that has the potential to revolutionize a wide range of industries.
At its core, a blockchain is a distributed database that allows for secure, transparent and tamper-proof record-keeping. This means that it can be used to track anything of value – from digital assets like cryptocurrencies to physical assets like property or artwork.
Each record in the database is known as a “block”, and each block is linked to the previous one in a chronological “chain”. This makes it very difficult to tamper with the data, as any attempt to do so would be immediately obvious to everyone on the network.
The distributed nature of blockchain also makes it incredibly secure, as there is no single point of failure that can be exploited. This is in contrast to traditional “centralized” databases, which are often vulnerable to hacking and fraud.
So, how much money is in blockchain?
This is a difficult question to answer, as it depends on how you define “money”. If you consider cryptocurrencies like Bitcoin to be money, then there is a lot of money in blockchain.
As of June 2018, the total market capitalization of all cryptocurrencies was over $275 billion. This is a huge amount of money, and it is only likely to grow as more and more people adopt cryptocurrencies.
However, if you don’t consider cryptocurrencies to be money, then the amount of money in blockchain is much smaller. This is because most blockchain applications are still in the early stages of development, and are not yet being used on a widespread basis.
As more and more businesses begin to adopt blockchain technology, the amount of money in blockchain is likely to increase. For now, though, it remains a relatively small part of the global economy.
Other related questions:
Q: How much money is in all of crypto?
A: This is difficult to answer because the price of cryptocurrencies is constantly changing. However, as of July 2018, the total market capitalization of all cryptocurrencies was estimated to be around $268 billion.
Q: How much size is Bitcoin blockchain?
A: Bitcoin’s blockchain is currently about 160 GB in size.
Q: How many coins are on blockchain?
A: There are currently over 15 million bitcoins in circulation, and the maximum number that can ever be produced is 21 million.
Q: How much can a blockchain wallet hold?
A: There is no limit to how much a blockchain wallet can hold. The only limit is the size of the blockchain itself, which is capped at 1 GB.
Bibliography
- How Much Do You Know About Blockchain – Oliver Wyman
- How Much of All Money Is in Bitcoin? – Investopedia
- Is Crypto Really Worth $3 Trillion? – Bloomberg.com
- Cryptocurrency Statistics 2022: Investing In Crypto | Bankrate
- Cryptocurrency: What It Is and How It Works – NerdWallet
- how much you’d have if you invested $1,000 in top … – CNBC