Bitcoin whitepaper</strong></a> in 2008 and successfully utilized for the first time in 2009 with the launch of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency./nWhile at first the blockchain technology was used exclusively for crypto development, it has since been utilized on a far broader scale, with its capabilities being applied in various industries.</p>\n<p>Blockchain technology could impact digital and legacy sectors and reshape data processing systems from the ground up. Blockchain 3.0 aims to integrate the technology into a broader scope of not just professional but also day-to-day uses.</p>\n<p>Some industries have already successfully started adopting blockchain technology to optimize their processes.</p>\n<h3>Healthcare</h3>\n<p>Patient data management and storage can be optimized using blockchain technology. 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Reality","featured_image_id":6411,"status":"published","chapter_id":6,"language":"en","order":14,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-the-metaverse","featured_image":{"id":6411,"uuid":"fad79626-bbf1-4fc0-9e99-bde5597c1bc7","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-metaverse.o.jpg","path":"crypto/storage/media/what-is-metaverse.o.jpg","original_path":"crypto/storage/media/what-is-metaverse.jpg","name":"what-is-metaverse.o.jpg","original_name":"what-is-metaverse.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"88.15KB"},"youtube_video":null}]},{"id":7,"title":"Trading & Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","featured_image_id":10342,"status":"published","chapter_id":7,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/where-to-trade-crypto","featured_image":{"id":10342,"uuid":"0bd8d78a-9423-48ee-9161-34dc1872b97c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","path":"crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","original_path":"crypto/storage/original/where-to-trade-crypto-featured-image.jpg","name":"where-to-trade-crypto-featured-image.jpg","original_name":"where-to-trade-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"85.96KB"},"youtube_video":null},{"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":120,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Blockchain Transmission Protocol (BTP)?","slug":"what-is-blockchain-transmission-protocol-btp","section":"B","keyword":"Blockchain Transmission Protocol (BTP)","status":"published","definition":"a technology that enables compatibility between diverse blockchains by allowing data exchange and value transfer.","content":"<p><strong>Blockchain Transmission Protocol (BTP)</strong> is a technology used to enable compatibility between diverse <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchains. This allows for service invocation, value transfer, and data exchange. BTP can be enabled for blockchains with distinct <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-algorithm/">algorithms and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-consensus-mechanism/">consensus mechanisms</strong></a>, creating flexibility.</p>\n<p>BTP is often applied to token exchanges across blockchains and utilizes <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> to conduct such transactions without a trading platform acting as the middleman.</p>\n<p>BTP can also enable data transfers between different partners powered by ICONLOOP. One of such services, MyID, verifies <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-identifier-did/">Decentralized ID (DID)</strong></a> credentials on the open ICON Network. Users can then connect to BTP without having to submit their credentials to other blockchains individually.</p>\n<p>BTP has been utilized as a streamlined solution to <strong>issue certificates for blockchains</strong>. The public ICON network service Broof allows users to create and store validated certificates on-chain. BTP can trigger the ICON Network’s smart contract issuing mechanism.</p>\n<p>The validation processes are accessible for auditing or verification since BTP uses smart contracts to validate all external data.</p>\n<p>BTP only links two chains directly. However, these chains may be linked to other chains. This forms a network of interconnected blockchains. It was developed to be versatile.</p>\n<p>Even blockchains that do not enable smart contracts can take part in BTP transactions with some restrictions. For example, such a blockchain may take part as the sender chain but be unable to act as the receiver chain.</p>\n<h2>The ICON Network</h2>\n<p>Blockchain networks typically operate in isolation, as each blockchain has its own ecosystem, <strong>structure</strong>, and consensus mechanism. The ICON Network has been established to connect separate blockchains, making them interoperable. This process occurs via the Blockchain Transmission Protocol (BTP).</p>\n<p>There are certain functions and standards set for BTP to transfer data and maintain its integrity. Namely, these are message relayers, message specifications, <strong>message verifiers</strong>, and service smart contracts.</p>\n<ul>\n<li>Message Relayers – applications that receive and deliver BTP messages;</li>\n<li>Message specifications – details that have to be provided in the message: recipients, senders, service names and data, and serial numbers;</li>\n<li>Message verifiers – functions that validate message data;</li>\n<li><strong>Service Smart Contract (SSC)</strong> – the contract that verified messages are delivered to. SSC executes the transition from the source blockchain smart contract to the destination blockchain smart contract.</li>\n</ul>","level":"medium","meta_title":"What is Blockchain Transmission Protocol (BTP)? Definition & Meaning | Crypto Wiki","meta_description":"Blockchain Transmission Protocol (BTP) meaning: Blockchain Transmission Protocol (BTP) - a technology that enables compatibility between diverse blockchains by allowing data exchange and value transfer.","meta_keywords":null,"language":"en","created_at":"2022-02-18T07:06:28.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-blockchain-transmission-protocol-btp"},"prevSection":{"id":118,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Block Trade?","slug":"what-is-block-trade","section":"B","keyword":"Block Trade","status":"published","definition":"a large-scale transaction outside of an open market.","content":"<p><strong>Block trade</strong> describes a large-scale transaction where traders buy and sell a considerable number of securities without having any effect on the market price. Blockhouses are often used in block transactions as financial intermediaries.</p>\n<p>Block trading is typically conducted by institutions and <strong>hedge funds</strong>, given the substantial transaction sizes. Individual traders tend not to participate in block trading. This method of trading is similar to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-over-the-counter-otc-trading/">over-the-counter trading (OTC trading)</strong></a> as it is designed to be confidential.</p>\n<p>During block trades, large-scale hedge funds and investors buy and sell massive amounts of bonds and shares via mediators like investment banks.</p>\n<p>In <strong>open market block trading</strong>, participants must be cautious in case their transaction volumes affect the market value. To avoid this, traders rely on an intermediary rather than trading with hedge funds or investment banks directly.</p>\n<p>According to the New York Stock Exchange, block trades normally contain 10,000 shares in the stock market or $200,000 in bonds in the treasuries market at the minimum. In most cases, the volume of block trading exceeds the minimum threshold, as the parties involved are corporations and equities.</p>\n<p>For example, if a hedge fund wishes to sell 500,000 shares of one company for $10 each, the process can be completed in one or more transactions.</p>\n<p>A blockhouse, acting as the middleman, finds the sellers and is responsible for contract negotiation and finalization. The blockhouse decides whether the shares will be sold to one party or split among several buyers.</p>\n<p>Every transaction in a block trade occurs simultaneously. Utilizing a blockhouse helps maintain low market volatility and reduces the risk of slippage between trades.</p>\n<p>Blocks are considered to be over-the-counter (OTC) commodities. They are not typically traded in the open market or a centralized exchange. This is done to ensure that the price of the securities remains stable as the open market experiences value and volume fluctuations.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-futures/">Futures trading</strong></a> acts as a contract obliging the participating parties to trade a financial asset at a predetermined price in the future. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-options-market/">Options trading</strong></a> follows a similar structure. However, the buyer has the right but not the obligation to follow through with the transaction.</p>\n<p>In its essence, block trading functions similarly in a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain ecosystem</strong></strong></a>. This method of trading is commonly used in some of the <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/best-cryptocurrency-exchange/">biggest cryptocurrency exchange platforms</strong></a>.</p>\n<p>Some, like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a>, provide block trading mechanisms for large-scale crypto transactions. OTC trading can also be effectively employed in crypto trading as it does not severely impact the market price of a token.</p>","level":"medium","meta_title":"What is Block Trade? Definition & Meaning | Crypto Wiki","meta_description":"Block Trade meaning: Block Trade - a large-scale transaction outside of an open market.","meta_keywords":null,"language":"en","created_at":"2022-02-18T06:44:28.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-block-trade"},"currentChapter":"B","currentSection":"what-is-blockchain-3-0","chapterTitle":"B","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-blockchain-3-0","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter B
What is Blockchain 3.0?
Blockchain 3.0 MEANING:
Blockchain 3.0 -
the latest iteration of blockchain technology development.
Let's find out Blockchain 3.0 meaning, definition in crypto,
what is Blockchain 3.0,
and all other detailed facts.
Blockchain 3.0 is a blockchain upgrade that aims to integrate decentralized technology in a number of industries for performance optimization. Blockchain technology was outlined in the Bitcoin whitepaper in 2008 and successfully utilized for the first time in 2009 with the launch of the cryptocurrency.
While at first the blockchain technology was used exclusively for crypto development, it has since been utilized on a far broader scale, with its capabilities being applied in various industries.
Blockchain technology could impact digital and legacy sectors and reshape data processing systems from the ground up. Blockchain 3.0 aims to integrate the technology into a broader scope of not just professional but also day-to-day uses.
Some industries have already successfully started adopting blockchain technology to optimize their processes.
Healthcare
Patient data management and storage can be optimized using blockchain technology. Furthermore, by using blockchain, the intercommunication between healthcare services can be improved, starting at a more local scale and going global.
Transport
Distributed ledger technology (DLT), powered by blockchain, can help improve transportation and delivery services. Blockchain can also be used to track the records of the deliveries. Traceability and accountability can be optimized using ledgers.
Voting
Public ledgers can be used in voting systems to ensure transparent, accessible, and secure processes.
The aim of blockchain 3.0 is to advance further into industries outside the financial sector. Tools built using blockchain technology like DLT can be improved and customized to fit the needs of specific markets. One of the main focuses is data management optimization.
It is expected that blockchain 3.0 integrations in digital systems will happen gradually, as private parties adopt it to utilize for further solution developments. Given that blockchain development so far has seen the rise of cryptocurrencies, smart contracts, and decentralized apps (dApps), it is likely that more optimizations are to follow.
Another aim of blockchain 3.0 is to improve the overall technology, making it more accessible and scalable. Many blockchain projects rely on Proof-of-Work (PoW) systems which consume large amounts of energy and are not completely sustainable.
Thus, developers are working on applying other consensus mechanisms to improve blockchain functionality.
