Figure 1.1: Gartner Hype Cycle for Blockchain 2020 (Source: Gartner)

Figure 1.2: Gartner Hype Cycle for Blockchain 2021 (Source: Gartner)

Blockchain was introduced for the first time in Gartner Hype Cycle in

2016, and in just under five years, many of its use cases are in

production. This signifies that in comparison to many others

emerging technologies, the adoption of Blockchain is much faster. In

the later chapters, we will read about many of the Blockchain use

cases along with their supporting products and technologies that

would help us understand the entire ecosystem with clarity.

1.3 Birth of Bitcoin

Unlike some of the other emerging technologies as Artificial

Intelligence, IoT, Robotics etc., Blockchain is a relatively new

technology that was introduced almost a decade ago through a

cryptocurrency called “Bitcoin”. In 2008, someone named Satoshi

Nakamoto published a whitepaper called “Bitcoin: A Peer-to-Peer

Electronic Cash System”, that described the idea of Bitcoin