Definition - What does Cryptocurrency 2.0 mean?
Cryptocurrency 2.0 is a general term used for the process of innovating with cryptocurrency beyond early adopters like bitcoin. Bitcoin, a pioneering cryptocurrency, and blockchain, its immutable financial ledger, have been standouts in the very early process of applying cryptocurrency to major financial functions around the world.
Techopedia explains Cryptocurrency 2.0
Specifically, bitcoin and blockchain have started to become standards for government agencies and private businesses. Governments have started applying cryptocurrency methods with bitcoin and blockchain to financial transactions for security and transparency. Private sector businesses are talking a lot about how bitcoin and blockchain innovation can change markets.
Within this context, cryptocurrency 2.0 involves efforts to broaden the use of cryptocurrency, improve its function, or enhance what it can do. Tech professionals might talk about cryptocurrency 2.0 applications that use the characteristics of bitcoin and deliver them to new applications or for new purposes. One common idea is that bitcoin-esque types of transactional technologies can be used to surveil digital systems to prevent cyberattacks. Other types of innovations can involve doing more with cryptocurrency in the financial realm or securing the cryptocurrency market from bubbles or other financial problems. In any case, cryptocurrency 2.0 is probably something many people will be talking about as these new technologies continue to develop.