As 5G technology matures, can it help accelerate the implementation of blockchain?

2019 has become a hot spot for the development of various high-tech industries, and 5G technology has ushered in its first year of explosion. Operators and mobile phone brands have accelerated their layout, and mobile phone brand stores on the streets have also undergone subtle changes. Almost all Apple stores have changed their signs to Huawei. With the arrival of 5G networks, Huawei has launched a 5G mobile phone Mate 20X 5G at an affordable price. This fully shows that 5G network technology is in a booming stage and major mobile phone brands have accelerated their layout.

Looking at the development of mobile Internet, the traffic dividend period of self-media and short videos has made everyone understand a market law: "He who gets the traffic gets the world". In the past, traditional media, which was spread through newspapers and magazines, was slow and had a poor user experience. In the new era, people's needs have changed. With fragmented time, mobile phones are almost inseparable. Mobile applications have also undergone major changes from web browsing to major APPs, and have also brought entrepreneurial opportunities to countless grassroots. Especially during the self-media dividend period, countless people can achieve "life winning by doing nothing" by sitting at home and writing articles.

The development of network technology is a basic factor in promoting the development of these industries. The change in speed from 3G network to 4G network has made people watch short videos faster. At the same time, the way of video dissemination is faster, more intuitive, and the user experience is stronger. Therefore, another group of people, with the help of the development of network technology and in line with the needs of the times, have realized profit models such as bringing goods and attracting traffic and generating advertising revenue by shooting videos and broadcasting live.

2019 is known as the first year of 5G network commercialization. The development of network technology has promoted the development of various industries and even some emerging fields. Once the current 5G network technology realizes its commercial value, can it bring more opportunities and challenges to the high-tech industry?

1. Unlimited opportunities in the 5G market

Official data shows that the 5G network test speed can reach 1.4Gb per second. For example, a movie can be downloaded in a few seconds, which is much faster than the 4G network. In addition to the network speed increase, the network capacity has also been upgraded, from 115 milliseconds to less than 5 milliseconds.

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First of all, following the relationship between the development of mobile phones and the Internet, we will find that the two complement each other. The development of mobile phones is inseparable from the Internet, and the rapid spread of the Internet is inseparable from mobile phones. Once the speed of Internet spreads faster, more operational functions can be realized. Let's take the market that has been realized as an example. The bonus period of the short video market is not only because people accept this innovative way of information transmission, but also inseparable from the development of network speed. If you use 3G network to watch videos, you will not be able to watch them so smoothly. There are many problems and the user experience is poor. Can this market still be popular?

On the other hand, the traffic problem has been solved. Now the traffic of major operators is increasing. From the previous 100M for a few yuan to the current King Card with unlimited traffic and universal traffic across the country, people are more willing to accept saving money and enjoying the sensory experience. In general, the reason why short videos can become the new blue ocean is that the rapid development of network technology has spawned this market that can be highly recognized by users.

Secondly, the development of most industries in life depends on the development of network technology, just like the relationship between mobile phones and network technology. Let's take the Internet of Things as an example. The greatest value of the Internet of Things is to realize the interconnection of all things. What is the basis of the interconnection of all things? It is the network. According to this year's information, the first 5G smart logistics demonstration park was built in Jiading, Shanghai in March 2019. Relying on 5G network communication technology, it has formed an integrated application of intelligent technologies such as unmanned driving and AI with logistics products, creating a highly intelligent, self-decision-making, and integrated smart logistics demonstration park. Not only that, but also common smart homes in life need to establish connections through the network, send command signals, and then realize control. Once the network signal is not received, then any device will not work properly.

When talking about the commercial value of 5G networks, we need to first understand how 5G network technology can change our lives.

Change? From the simplest analysis of network speed, if we are in a densely populated crowd, the speed of 4G network will slow down, such as in crowded places such as stadiums and concerts. When all devices need to be connected to the Internet, the network speed and capacity requirements will naturally increase. The speed of 4G cannot be achieved, but 5G can. Hotspot high capacity is one of the largest application scenarios. It will enhance the user's Internet experience in various fields, increase network speed, and watch videos in any place will become smoother.

The value of 5G commercialization is not that it is just an upgrade of network technology, but more that it creates more business opportunities for various industries. If the 4G network speed is too slow and the short video market cannot become popular, then, can the commercialized 5G technology drive more new markets?

It can be seen that the development of all walks of life must be the deep integration of technologies. Only by jointly promoting the application scenarios of technologies can the value be maximized. Including many emerging technology fields, artificial intelligence, Internet of Things, blockchain technology, etc., these are inseparable from the development of network technology. Only when there are breakthroughs in the development of network technology can the subsequent market dividends be brought.

2. How does 5G network promote the blockchain industry?

The development of blockchain technology has attracted the attention of most of the world's giants, and they have accelerated their layout in this field. However, we know that blockchain itself is built on a network system. The digital asset market, which is closely related to blockchain technology, has been developing for decades, but is still in the stage of exploring its application value. A large part of the reason is that the pre-existing technologies such as 5G networks are not mature.

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For example, the earliest block size was 1M, and the earliest mining was achieved through computer CPUs. The CPU's computing power was limited, so the transaction speed at the time became a key issue hindering the development of the technology. There are many solutions to this problem, such as the subsequent technical expansion, lightning network, and so on.

If the transaction speed cannot meet the needs of most people, will people still trust this technology? Not to mention what kind of application scenarios it has. Take the development of online shopping as an example. Without a third-party guaranteed payment, would you be willing to pay the money directly to the merchant? Without a logistics confirmation system, how can merchants realize cash on delivery? The main reason why online shopping can be widely recognized is that network technology realizes information transmission, electronic payment systems realize financial guarantees, and logistics tracking systems realize the exchange value of goods. Basically, all details have been optimized, eliminating people’s security concerns about online shopping and reshaping their perception of online shopping, which has promoted the booming development of this industry.

We can see that the development of blockchain technology is at a bottleneck. On the one hand, the technical practice itself has not yet reached a conclusion; on the other hand, related high-tech industry technologies such as 5G networks and the Internet of Things have not made breakthroughs. For example, if 5G networks can be commercialized, it means that the transaction speed can become faster. Then, can the problem of transaction speed mentioned above be solved? It is also possible that the mining power will increase, which means that the market prospects of blockchain are broader.

Overall, the development of 5G networks can help the blockchain industry achieve leapfrog development and bring more blue ocean markets to explore. Only when there are breakthroughs between technologies can more value be created and the technology can be implemented faster!