🟢 Generation 1: Bitcoin, Litecoin, Dogecoin

Goal: improve the monetary system

Function: send, receive, transaction

Bitcoin was the first cryptocurrency to demonstrate that decentralized financial consensus is possible with an efficient implementation.

Early forks used and still growing: Litecoin, Dogecoin, etc.

🟣 Thế hệ 2: Ethereum, Eth Classic, Basic Attention Token

Objective: decentralized terms and conditions based on 1st generation functionality

Function: smart contract

Self-executing agreements are made between the two parties. The participating parties agree on the conditions and the contract activates once they are met

🔵 Generation 3: Eth 2.0, Decision, Optimism

Goal: 2nd generation expansion

Function: moves computation off-chain, while minimally storing transaction data on-chain

Scalable in many different ways, one way is to handle all the tangled data, allowing many times more smart contract transactions to be clustered in a block

🟠 Generation 4: Avalanche subnets, Polygon supernets, Polkadot

Goal: sovereign blockchain network, defining its own rules, membership, token economics

Function: collections of interconnected networks, holding and organizing large amounts of data and facilitating communication between users

🟡 Generation 5:

The goal: infinite scalability

Function: process thousands of transactions in one batch and then only post some minimal summary data to mainnet

One generation is not necessarily "better" than the previous generation, they are arranged in order of general reception.

Additionally, this understanding is not exhaustive, it is a way of looking at the ecosystem.

There are others being thought about and built, mostly with the same goal: secure, decentralized technology built for all humanity to use.

(Translated from: Glenn Rachlin)