BlockChain Generation understanding

First Generation of Blockchain

Once upon a time, someone thought that lets have cryptocurrency and it will replace the existing currency which will be generated by the machine so that it will not be affected by inflation and people’s life will be more prosperous and people will invest more time in creative jobs than wasting time in doing repetitive activities. This thought process was done in the First Generation of Blockchain and if you find any coin, which resolve any purpose, and then they fall under first generation of Blockchain

Example of First Generation of Blockchain is bit coin, lite coin and others

Purpose to solve: New Payment mode

Second Generation of Blockchain

Some smart people met and thought why not using the same concept and do some work with it and people can use this works and save the time of doing repetitive activities like crowdsale where business logic is define once and its done repetitively. This Thought process were called Second generation of Blockchain which are used for payment and Distributed application are also built on it

Example of Second Generation of Blockchain is ethereum and others

Purpose to solve: Payment mode and Distributed application

Third Generation of blockchain

Some more smart people met and they thought why not build a platform in which, if people need first generation or second generation ecosystem, then they directly use our token and created that ecosystem and save lots of time to build this ecosystem.
Example of Third Generation of blockchain is NEO, Lisk and others
Purpose to solve: build an ecosystem and save time