Blockchain: the Underlying Technology in the Crypto World Shows Resilience Amid Uncertainty

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In recent years, the global economic outlook has become uncertain due to the COVID-19 pandemic, digital disruption, and geopolitical developments which make drastic changes in global businesses and financial markets, let alone changing people’s day-to-day lives. In the age of uncertainty, the development of digital innovations including cryptocurrencies, NFT (Non-fungible token), decentralized finance (DeFi), the Metaverse, and beyond have, surprisingly, accelerated as a majority of crypto natives and tech-savvy individuals strongly believe the backbone of the cryptocurrencies: blockchain, which is a distributed and decentralized public ledger that exists across a network. 

Bitcoin is the first original case study of blockchain which has proven that the new technology can securely store information without the need of a centralized authority because any add-on data will be verified and replicated by a large network of hundreds of thousands of computers, that’s why decentralization, immutability, and transparency are the new technology’s main features. 

In the emerging digital world, teamwork and collaboration are the keys, so the crypto craze continues in the seemingly crypto winter. No matter whether the new or old institutional investors, they are still attracted to get into the crypto market at low tides and keep their fingers crossed that the prices will bounce back in the crypto spring. 

As the old saying goes, Survival of the fittest, somehow only the most secure and reliable blockchain-based system can stand out in the crowd to weed out bad actors. 

Poloniex, one of the world’s oldest and legendary crypto exchanges, is one of