Thermal Whitepaper
  • Executive Overview
    • Introduction to Thermal
    • Vision and Mission
    • Whitepaper Objectives
  • Background and Motivation
    • Technological and Development
    • NFTs: Redefining Digital Ownership
    • Artificial Intelligence: Enhancing Data-Driven Decisions
    • Importance of 6G and Blockchain
  • Current Situation
    • 6G Market Insights
      • Current State of 6G Development
      • Market Potential and Projections
      • Challenges and Considerations
    • Blockchain Market
      • Evolution of Blockchain Technology
      • Market Growth and Adoption
      • Challenges and Considerations
    • NFTs Market Dynamics
      • Emergence and Growth of NFTs
      • Market Potential and Projections
      • Challenges and Considerations
    • AI and Data Analytics Market
      • Advancements
      • Market Growth and Adoption
      • Challenges and Considerations
    • Technology integration
  • Technological
    • 6G Connectivity
    • Blockchain Technology
    • NFTs
    • AI and Machine Learning
    • Integration and Interoperability
    • Security and Privacy
  • Ecosystem
    • Key Components
    • Core Functionalities
    • Benefits
    • Technical Specifications
    • Tokenomics
  • Risk Assessment and Mitigation
    • Risk Assessment and Mitigation
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  1. Current Situation
  2. Blockchain Market

Evolution of Blockchain Technology

Since Bitcoin's birth in 2009, blockchain technology has undergone significant development and diversification. The initial focus on cryptocurrency has expanded to include a variety of applications, from supply chain management and financial services to healthcare and identity verification. Key innovations in blockchain technology include:

  • Smart Contracts: These self-executing contracts with the terms of the agreement directly written into code enable automated, trustless transactions and processes.

  • Consensus Mechanisms: Advances in consensus algorithms, such as Proof of Stake (PoS), Delegated Proof of Stake (DPoS), and Practical Byzantine Fault Tolerance (PBFT), have improved the efficiency and scalability of blockchain networks.

  • Interoperability: Efforts to enhance interoperability between different blockchain networks are facilitating greater integration and collaboration across the blockchain ecosystem.

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Last updated 10 months ago