Distributed Ledger Technology
Bitcoin started the notion of a large scale consensus without the need to trust any individual party or even fractions of the entire network. A couple of years later, Ethereum extended this with the idea of a world computer, a large-scale distributed execution that can be trusted, i.e. Smart Contracts. Ever since, a large variety of concepts, individual mechanisms and target scopes have emerged in the Distributed Ledger Technology (DLT) field, the umbrella term for all things “Blockchain”.
The applicable use cases have also moved on from the initial currency focus to areas where removing central authorities may bring great benefits. Nevertheless, formal restrictions suggest that DLT will never be holistically “solved”, so compromises have to be made and trade-offs to be adjusted regarding targeted use cases and their priorities. This is where different approaches and unconventional ideas shine. While the general hype around the topic has calmed down a little, research in the area is very active and a plethora of interesting ideas are emerging.