Tiers of Blockchain Technology

In this video, I'll walk you through the three tiers of Blockchain technology. We will explore what each tier means for your business and how to take advantage of these systems.

Tier One: Bitcoin is an example of Tier one blockchain technology because it has no central authority and relies on a distributed network. At this level, there are many transactions, but they can still be verified by nodes in the network. Transactions are also very fast-with confirmation within minutes or hours depending on the type of transaction being made.

Tier Two: Ethereum is an example of Tier two blockchain technology because it uses smart contracts which allow developers to build decentralized applications (dApps) that don't need any third party involvement at all, making them secure

Tier Two: is represented by blockchain-based applications, such as decentralized finance (DeFi) apps, games, or distributed storage apps. Many of these applications also have cross-chain functionality, helping users access various blockchain platforms via a single app.

SolidQore: https://www.solidqore.com
Opano IT Solutions: https://www.opano.de
Yasin Karaman: https://www.linkedin.com/in/yasin-karaman-44b01214b/