Despite their star status, these actors, comedians, and musicians (and one prince!) think fatherhood is the best job.

Jimmy Fallon

Justin Timberlake

Ashton Kutcher

Dave Grohl

Mario Lopez

Prince William

Ben Affleck

Hugh Jackman

Ryan Reynolds

Chris Rock

Dax Shepard

Chris Pratt

Written By: Ellen Sturm Niz

Increase your chances of getting in with these winning college application tips and techniques.

Applying to college is an involved process and with the right direction you can get into the colleges of your dreams. Prepare for applications by exploring our top 10 tips for college application success!

1. Meet College Application Deadlines, Apply Early

If you want to apply to several colleges, be aware of every deadline. Keep in mind that admissions panels across the board receive thousands of applications at once so beat the rush by submitting yours early!

2. Complete the Entire Application

Take your time with each college application; fill it out carefully and double-check each section. If you submit an incomplete application, the panel may believe you are not a serious or qualified candidate. Take the required admissions tests well in advance in case you don’t earn a qualifying score the first time you take them.

3. Include Your Extracurricular Activities

Admissions officers look for students who have maintained a strong academic standing and a proven track record of extracurricular activities. Admissions panels usually give priority and scholarships to well-rounded students who lead a balanced, driven and active life.

4. Be Neat and Organized

College admissions review panels do not appreciate misspellings, grammatical and syntactical errors. Technical issues discredit you as a serious applicant and if you turn in a hard copy application, be sure to write as neatly as possible. Also, it helps to have a friend, teacher, or family member look over your college application before submission to assure that it is neat and complete.

5. Write a Stellar Essay: Avoid the Fluffy Stuff

When you answer application questions and essay prompts, steer clear of “the fluff”. The redundant filler words and phrases can bore the reader and will not help your college admissions essay stand out from the rest. Write clear and concise sentences that directly answer the prompt, conveying exactly who you are and why you want to go to that school. Admissions officers are more impressed by simple and articulate essays than wordy, unintelligible language that “sounds smart” or is “trying too hard.”

6. Be Creative

There is a distinct line between creative writing and fluff, so if you feel confident enough in your writing, take a chance and have fun with your essay. This is your opportunity to “wow” the panel and show off your skills. Applications officers review hundreds and thousands of applications in a very short period, so make yours shine. However, make sure to use tact and keep it appropriate. If your essay is in any way offensive, you may not be considered.

7. Don’t be Cliché

Stay true to yourself. Depending on the essay prompt, reflect on your experiences or express your opinions with sincerity and originality. This is your chance to demonstrate your individuality so avoid regurgitating the stale “shoot for the stars” speech.

8. Honesty is the Best Policy

Don’t lie on your college applications. Embellishing the truth will only hurt you in the long run and admissions officers are authorized to check your claims and references. Allowing your parents to complete your application is also dishonest. You are the person who is applying to college, not your parents. It’s fine to ask their opinions about it, but it’s cheating to have someone else write your essay or fill out your application.

9. Don’t Forget Essential Documents

Don’t forget to provide your high school transcript, SAT/SAT II/ACT test scores, and letters of recommendation as needed. Take the required admissions tests well in advance in case you don’t earn a qualifying score the first time you take them. One tip: DO NOT send the admissions panel flowers, chocolates, balloons or muffins.

10. Get Awesome Letters of Recommendation

Many colleges require one or more letters of recommendation from a teacher, coach, administrator or other adult who knows you well. Ask for a recommendation well in advance to ensure that you meet your deadline.

We took a look at reports released by Whole Foods, The National Restaurant Association, and more to identify the top food trends for 2018. Examples include doughnuts with unique fillings, nontraditional cuts of meat, fermented vegetables, meat alternatives, ancient grains, soft serve, and edible flowers. Cuisines that will be hot include Middle Eastern, Peruvian, and Filipino.  From gigantic soup dumplings to chicken waffle cones, there were plenty of viral foods to try in 2017. As the year comes to a close, we took a look ahead to see what food trends will shape 2018. Using reports released from Whole Foods, The National Restaurant Association, and more, we identified the foods you’ll be seeing on menus everywhere in the coming year. Keep scrolling to see what you’ll be indulging in throughout 2018.

Doughnuts with unique fillings

Gone are the days of chocolate-glazed doughnuts. Boutique doughnut shops have been popping up all over the world, serving up unique flavors and fillings, like LA-based Cafe Dulce, which stuffs their doughnuts with Snickers bars. Australia’s Donut Papi offers treats filled with custard, and NYC-based Du’s Donuts come in flavors like banana malt, pear clove, and espresso cardamom. The National Restaurant Association named doughnuts with non-traditional fillings one of the 10 trends that are heating up for 2018.

 

Thai rolled ice cream

Originally from Thailand, this unique style of ice cream has become popular around the world, thanks to the intriguing method behind its preparation. Liquid ice cream is poured onto a cold slate, which causes it to freeze; meanwhile it’s chopped and rolled by hand and then served in a cup with various toppings. The National Restaurant Association named rolled ice cream one of the top 15 trends for 2018.

 

Naked layer cakes

Milk Bar Owner Christina Tosi was one of the first bakers to open the food world’s eyes to the “naked cake” — a tiered cake whose unfrosted sides show its layers and give it its name. Her naked birthday cakes are a favorite among Milk Bar devotees, and the less-is-more cake trend has spread to weddings and at-home baking. Tosi predicts that the trend will continue to spread in 2018.

 

Soft serve

Tosi cited soft serve as another dessert trend that will continue to grow in the coming year. Plenty of funky flavors started to make their way into the viral food sphere this year. There was watermelon and corn soft serve at Dominique Ansel Bakery in Tokyo, and flavors like green tea matcha, black sesame, and purple ube at Soft Swerve in NYC.

 

 

 

Croissants with unique fillings

Dessert mastermind Tosi also says that laminated dough— the dough used to make pastries such as croissants — will become a staple for bakeries in 2018.

This trend isn’t completely new either. NYC-based restaurant Union Fare burst onto the hybrid food scene last year when they started selling a birthday cake croissantstuffed with with a creamy, Funfetti-flavored filling. Their other croissant flavors include matcha and red velvet.

 

Breakfast items with an ethnic twist

Brunch seems to be the only meal millennials want to eat on weekends, so it’s fitting that restaurants are coming up with new twists on old breakfast classics. According to the National Restaurant Association, many restaurants are turning to recipes with an ethnic flare like chorizo scrambled eggs and coconut milk pancakes. The Association named ethnic-inspired breakfast foods one of the top five trends for 2018.

 

 

 

Meat alternatives

Impossible Foods’ meatless burger went mainstream when it was first served by an NYC restaurant — David Chang’s Momofuku Nishi — in the summer of 2016. It has since been hailed as a viable meat alternative for both vegetarians and carnivores alike, and has appeared on additional restaurant menus on both the East and West Coast.

The meatless burger’s appeal is all thanks to heme, a molecule that gives meat its pink color, makes it bleed, and gives it its flavor. BBC named heme a top trend for 2018,calling it “a possible stepping stone to more environmentally sustainable meat alternatives.”

 

 

Poké

Poké — a raw fish salad native to Hawaii — first made its way to mainland America by way of California. Soon after, the trend went bicoastal and spread to New York City, where the dish is now served at a number of fast-casual restaurants that allow diners to customize their poké bowls with things like kale noodles, avocado, and seaweed salad.

There are still plenty of large cities like London who haven’t been hit by the poké craze just yet though, and BBC predicts that will change in the coming year. According toEater, the number of Hawaiian restaurants on Foursquare doubled from 342 to 700 from 2014 to 2016; by 2020, that number could reach over 1,000.

 

 

Non-traditional cuts of meat

Although 2017 saw a rise in the plant-based diet, the National Restaurant Association says meat will be just as crucial this year. The association named new cuts of meat like shoulder tender, oyster steak, Vegas strip steak, and Merlot cut, the top trend for 2018.

 

 

 

Fermented and pickled veggies

According to BBC, the coming year will be all about gut health, which is why there will be a rise in pickled and fermented vegetables. While some veggies have been known to contribute to stomach bloat, veggies that have been fermented or pickled — like in the case of miso, kimchi, and kefir — can actually aid with digestion.

 

 

 

Heritage meats

The cut of meat isn’t the only trend carnivores will be focusing on in 2018. The National Restaurant Association named heritage-breed meats one of the top 20 trends for the coming year. This refers to meat that comes from non-commercial livestock breeds that were raised by farmers in the past but have now become scarce due to industrial agriculture. These breeds have unique genetic traits and are raised on sustainable or organic farms.

 

 

 

Unique spins on veggies

Farm-to-table food and plant-based diets dominated last year, and it looks like these vegetable-centric trends will continue into 2018. For only the second time since 1900, the number of farmers under 35 has increased, according to the most recent USDA Census of Agriculture, something that’s likely to lead to plenty of innovation in the farming sector.

Whole Foods also says that a push to reduce food waste will lead to chefs using every part of the vegetable, including stems, leaves, or rinds, which were often discarded in the past.

 

 

Peruvian food

Three restaurants located in Peru made it onto this year’s World’s 50 Best Restaurants List, including one — Central in Lima— that made it into the top five. This is no small feat for a relatively small country, and it’s also a sign that Peruvian cuisine is on the rise. The National Restaurant Association named this kind of food one of 2018’s top 20 hot trends.

 

Ancient grains

Ancient grains are making a comeback — specifically as ingredients in cereals, snacks, noodles, breads, and other bakery products. According to Innova Market Insights, 2.5% of new products launched during the period of June 2016 to June 2017 featured ancient grains, a significant jump from the 0.05% of products that featured the grains in 2007.

Examples of ancient grains include spelt, amaranth, kamut, and lupin.

 

 

Filipino food

Once underrepresented in the US, Filipino cuisine is currently having its moment.Jollibee— the chain that’s known as the “McDonald’s of the Philippines — is expanding, and ube — a purple yam that’s native to the Philippines — was everywhere this past year. From chicken and waffles to numerous baked goods, there’s almost no food the root vegetable’s purple color didn’t touch. NYC-based Flip Sigi is another favorite among food Instagrammers, thanks to its tantalizing Filipino-style tacos, burritos, and sandwiches.

Filipino food was also named a top trend for 2018 by the National Restaurant Association.

 

 

Protein-packed grains and seeds

2013 was named the official year of quinoa, but it turns out the protein-rich grain is still popular five years later, along with plenty of other seeds that are packed with protein. Hemp, chia, and flax are just a few additional examples that have become common add-ons in foods like yogurt, oatmeal, and peanut butter.

The National Restaurant Association named protein-rich grains and seeds one of the top food trends of 2018.

 

 

Edible flowers

Considering the push for photogenic food, it makes sense that edible flowers are making their way into everyday dishes and drinks. Whole Foods named floral flavors one of the top trends for 2018, saying that petals can make for a “a subtly sweet taste and fresh aromatics.”

Edible flowers are often used as herbs — think lavender lattés, or rose-flavored foods. One chef in Tel Aviv even uses them on his sashimi pizza.

 

 

Chips that are popped or puffed instead of fried

Potato chips are deliciously addictive, but also undeniably unhealthy. This is likely the reason behind why many brands have turned to snacks that are popped or puffed as a healthier, lighter alternative. And according to Whole Foods, who named puffed and popped snacks one of 2018’s top trends, new technology is behind this shift as well.

“New extrusion methods (ways of processing and combining ingredients), have paved the way for popped cassava chips, puffed pasta bow ties, seaweed fava chips and puffed rice clusters.”

 

 

Middle Eastern spices and dishes

According to Whole Foods’ 2018 trend report, Americans will be indulging in authentic Middle Eastern cuisine in the coming year.

“Things like hummus, pita, and falafel were tasty entry points, but now consumers are ready to explore the deep traditions, regional nuances, and classic ingredients of Middle Eastern cultures, with Persian, Israeli, Moroccan, Syrian, and Lebanese influences rising to the top,” Whole Foods said. Spices and ingredients such as harissa, cardamom, za’atar, pomegranate, eggplant, parsley, and tahini will become more common on restaurant menus across the country.

 

Homemade condiments

Store-bought condiments can be full of not-so-good-for-you ingredients like sodium or sugar. In fact, just one tablespoon of ketchup has as much sugar as a typical chocolate chip cookie. So it’s no surprise that next year, people will be taking the time to make their own condiments. The National Restaurant named house-made condiments thesecond hottest trend for 2018.

 

 

 

Written By: Sarah Schmalbruch

 

Botanicals, transparency, sustainability and ethnic cuisine are among the movements worth watching this year, according to major manufacturers and research firms.

Consumer demand for healthy ingredients, complex flavor profiles and environmentally sustainable offerings greatly shaped the food industry in 2017. With these trends deeply entrenched, expect many of them to dominate again this year.

Botanical flavors, science-based foods and indulgent products are just a few product attributes expected to be top of mind for consumers in 2018, according to major manufacturers and research firms. Other ares to watch include transparency, sustainability and ethnic offerings.

“We’re seeing food trends emerge and shift at an ever-increasing rate. … Whether you’re an accomplished chef, bona fide foodie or have a passing interest in food, you should keep a look out for these trends and incorporate some into your cooking and eating habits,” Thomas Griffiths, vice president of Campbell’s Culinary & Baking Institute, said in a release. Time will tell how these six projections will impact this year’s product offerings, but several food company experts and industry analysts have already seen these trends start to make their way into the marketplace.

1. Botanicals

Plants and flowers are springing up in food and beverage items as more consumers become interested in their potential healing properties. They include the leaves of the moringa oleifera tree, ashwagandha (Indian ginseng), lavender and curcumin, the active ingredient in turmeric.

McCormick & Co. embraced the trend early by purchasing Botanical Food Company of Australia in 2016. The company manufactures packaged herbs designed for busy consumers who want an easy way to incorporate the fresh ingredient in their meals.

Credit: Flickr

Campbell’s Culinary & Baking Institute, part of food giant Campbell Soup, included botanicals in the company’s six trends to watch in 2018 list. Griffiths told Food Dive that Asian ingredients such as ginger, lavender and cardamom are standouts right now.

“[The trend is] exciting because it’s natural and global, very chef-friendly and clean label, and it has potential for health and wellness, which Campbell is very interested in,” he said. “If our consumers are eating matcha or cardamon, it’s something we’re going to source.”

2. Transparency

This trend began with the clean-label movement, driven by consumer demand for more product information, fewer artificial ingredients and more sustainable production and packaging. Recently, it has extended beyond labels to include product traceability as shoppers grow more interested in where their food comes from and how it was handled along the supply chain.

Only a few food makers print the name and location of the farm, along with the signature of the producer, on their packaging, but that’s the practice of Farmhand Organics. The Colorado-based company also uses transparent jars to display its fermented and preserved food products, which are both locally sourced and certified organic.

Other brands taking transparency the extra mile include One Degree Organics, which uses an on-package QR code that shows farmer profiles, and Bellucci, which lists the harvest date, type of olives and lot number on its extra virgin olive oil bottles.

Technology is playing an ever-larger role in transparency as brands adopt applications that allow shoppers to scan a package and learn immediately about where it came from. Blockchain is the latest innovation in supply chain transparency, especially when it comes to seafood. With this digital ledger, shoppers can trace a fish’s entire journey from ocean to plate.

Consumers increasingly prefer presentation, packaging and marketing approaches that tell a story about the product and how it was produced so they can feel a personal connection to their food. Shoppers also want to know that companies they buy from reflect their values by embracing missions such as environmental sustainability and ethical treatment of workers and animals. According to Label Insight, food manufacturers that adopt “complete transparency” are rewarded with consumer loyalty of about 94%.

“Brands are increasingly realizing that to differentiate themselves, they need to demonstrate the values they promote, and visibility into their products and company is one way to do this,” Jamie Katz, a member of the Whole Foods Market quality standards team, told Food Dive in an email. “If you’re a company [that] has a social responsibility program, you’re going to tell that story.”

3. Ethnic cuisine

Asian and Middle Eastern flavors have struck a chord with consumers who are seeking new and intriguing items beyond the well-known standbys such as sushi, tempura, hummus, tahini and yogurt. Asian flavors balance the five basic tastes — sweet, salty, sour, bitter, and umami — while Middle Eastern ones range from spice blends with texture — such as za’atar and dukkah — to labna, a soft and spreadable cheeses made from strained yogurt.

Spicy flavors do well in the U.S., and many shoppers are exploring beyond basic hot sauces as food makers highlight more authentic, ethnic flavors. Changing demographics are behind some of this trend, particularly as the purchasing power of the millennial demographic increases and companies target growing Hispanic and Asian populations.

According to Statista, retail sales of ethnic foods will jump from $10.9 million in 2013 to an estimated $12.5 million this year.

Molly Siegler, Whole Foods’ associate culinary and hospitality coordinator, told Food Dive she thinks consumer interest in ethnic flavors will only expand the footprint for these products in the company’s stores, as well as in other retail outlets.

“It’s a wonderful way to travel without having to leave the comfort of your home. It’s only going to grow,” Siegler said. “From a prepared foods perspective, we take a real restaurant-style approach to hot bars and salad bars and other venues within the stores, and look forward to bringing more of these flavors into our stores.”

4. Science-based foods

Food made from technology  — such as cell-cultured meat and highly realistic plant-based meat analogues — is no longer the stuff of science fiction. A few futuristic products are already in stores and restaurants, and more will soon be on the way as companies work to develop and scale up state-of-the-art foods to meet the public’s growing appetite for these innovations.

Credit: Beyond Meat

Sales of plant-based foods grew 8.1% during the past year, according to the Plant Based Foods Association and The Good Food Institute. Nielsen estimated that plant-based meats accounted for 2.1% of sales in refrigerated and frozen meat products sold at retail.

Cell-cultured meat also is gaining traction, and startups have begun to experiment with fish as well as beef and poultry. Finless Foods is developing a cell-cultured Bluefin tuna that the company hopes can achieve price parity with the real thing by next year. While the initial lab prototype weighed in at about $19,000 per pound, Finless Foods recently said that production costs have been cut in half since September.

Science-based foods certainly can carry an “ick” factor, but the purported environmental and nutritional benefits of “clean meat” may prove enticing.

“Consumers today eat meat despite how it’s produced, not because of how it’s produced,” Bruce Friedrich, co-founder and executive director of The Good Food Institute, said in a blog. “Once clean meat is commercially available and is offered alongside conventional meat — and consumers are thereby informed of all its advantages — we at GFI have no doubt that consumers will opt for the former.”

5. Sustainability 

This trend has moved beyond merely producing food in an environmentally conscious ways and selling it in recyclable packaging. Consumers are taking a more active role in the battle against food waste, a mindset that is leading many shoppers to try and use all parts of a plant or animal, rather than cherry-picking some and throwing the rest away.

Also called “root-to-stem” and “nose-to-tail” eating, this expanded type of sustainability is likely to appear equally in meat and produce departments. According to Siegler, who spends her time in the Whole Foods’ test kitchen in Austin, Texas, the company has always bought entire animals and made sure that everything was utilized in some way. Applying the same approach to produce is just an extension of that mindset, she said.

“When you think of the most beautiful carrot, it’s not the ones already bagged with their tops off. It’s the ones with the tops and [that] are multi-colored and gorgeous,” she told Food Dive. “People are attracted to that sort of produce but may feel some sense of guilt. You have these gorgeous green tops but don’t know how to use them except putting them in compost or throwing them away.”

Credit: Whole Foods Market

A solution is to use the typically tossed-out parts — broccoli stems, watermelon rinds or cantaloupe seeds — in restaurants, prepared foods and at-home recipes to reduce waste and create an interesting eating experience.

One example from the Whole Foods root-to-stem playbook features shaved fennel bulbs, along with the fronds and stems, which are topped with a lemon vinaigrette. The company highlights these products with in-store signage, and provides root-to-stem recipes at its retail outlets and online.

“Part of what that’s doing is getting some interest going for some new products, but also allowing our teams to partner better,” Siegler said. “So the produce teams and prepared foods teams work together to make these salads happen. It’s a better way to utilize products within the store.”

6. Indulgence foods

Comfort foods containing butter, lard and other fats and oils are back in style. Today’s consumers seem more interested in reducing the amount of sugar and sodium they consume than about the amount of fat in their diet. As many large CPG manufacturers limit sugar and sodium levels to meet consumer demand, saturated fats are being added back in to some foods to compensate.

For some shoppers, stress about the economy, the weather or the future encourage people to reach for indulgent treats such as premium chocolate, pizza or macaroni and cheese — nostalgic foods that remind them of a simpler time, but can’t be considered low-calorie or particularly healthy.

Healthier versions of popular comfort foods are making their way on to the marketplace. In 2015, Kraft Heinz reformulated its iconic macaroni and cheese to remove artificial dyes and preservatives. Some processed foods have been reformulated to contain less sodium, while many chips now have less salt and fat. Some comfort food is even sporting added vegetables.

Credit: Pixabay

A recent Packaged Facts report on fats and oils pointed out that less blame is being placed on those products for America’s health problems. It noted there is growing recognition “that certain fat and oils can actually make positive health contributions.”

According to David Sprinkle, research director for Packaged Facts, U.S. consumers have changed their perceptions of how unhealthy these products really are. The reason is partly because of the popularity of the so-called Mediterranean diet that features less red meat and salt and favors using olive oil instead of butter.

“While artificial trans fats top the list of bad fats to avoid, certain types of fats such as omega-3s and monosaturated fats have been shown to have positive health benefits,” he told Food Dive. “In addition, many consumers — especially millennials and Gen Z shoppers — are more concerned about choosing non-GMO, organic, clean-label products than avoiding high-fat ingredients.

Another element playing into the indulgence trend is that consumers generally value food products they view as “natural” over items that are more highly processed. It’s no wonder that butter consumption is skyrocketing, reaching its highest level in more than 40 years in 2017, while demand for margarine and other spreads continues to slump.

Indulgence foods will always fit somewhere within the American diet, since nearly everyone has a tendency to eat food once in a while that isn’t especially nutritious.

“We all have contradictory impulses on occasion, and over-the-top indulgences are always going to be here,” he noted. “It shouldn’t be a staple or your breakfast, but all-out indulgence always has a place.”

Written By: Cathy Siegner

In 2016, the Empire State Development Corporation gave a tour of Penn Station to many large landlords and builders to submit proposals to overhaul the station by improving the facility, upgrading the interior spaces and entrances, adding new retail, building a large glass opening on Eighth street…

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What dresses we will wear this summer? The trends for Summer 2018 suggest various styles, colors and patterns. With a constant thread: a nostalgic penchant for vintage styles. Like the pretty 50s style dresses  worn by  Saoirse Ronan in Brooklyn, or the patterns sported by  Duchess Sarah Ferguson in the 80s. A strong-hued déjà-vu with a few pastel tones.

Of course, there are also more innovative styles that play with patchwork and layering, but the apron and baby doll dresses will be all the rage on the beach and in town. See in the gallery a selection of the best summer dresses spotted on the runway and follow our smart guide to choose the dress that will suit you best:

• The patterned summer dress, patchwork styles featuring different layered panels and patterns for a vibrant look. Try an oversized and light style also for work
• The check & plaid mania: not just for winter, as seen at Prada, where models wore ample pinafore dresses over polo shirts or lightweight blouses. A perfect multi-layered ensembleto flaunt come Spring.
• The oversized, lightweight dress. Perfect for those who are looking for comfort without sacrificing glamour.
• The shirtdress: a totally versatile garment, especially in classic white. It’s like a white canvas you can personalize with accessories.
• The floral dress: leave in your closet tropical prints and embrace botanical patterns. Pastel hued micro florals are back.
• The polka dot dress: in our opinion it’s the must-have piece for this Summer
• The baby doll dress: from Chanel to Emporio Armani to John Galliano, many designers offered romantic mini dressesin lace, satin and tweed, perfect for a ‘Lolita’ lows
• The sequined dress: a go-anywhere and go-to piece for the Summer, see the long style from Attico in lavender tones, or the short cocktail dresses from Alcoolique and Halpern

Trends for Summer 2018

Written By: Selene Olivia

What is blockchain technology?

For the past several weeks, you’ve likely heard some of the following terms if you’ve paid attention to the world of finance: Cryptocurrency, Blockchain, Bitcoin, Bitcoin Cash, and Ethereum. But what do they mean? And why is cryptocurrency suddenly so hot?

First, we’ll explain the blockchain basics.

As society become increasingly digital, financial services providers are looking to offer customers the same services to which they’re accustomed, but in a more efficient, secure, and cost effective way.

Enter blockchain technology.

The origins of blockchain are a bit nebulous. A person or group of people known by the pseudonym Satoshi Nakomoto invented and released the tech in 2009 as a way to digitally and anonymously send payments between two parties without needing a third party to verify the transaction. It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies.

How does blockchain technology work?

Blockchain tech is actually rather easy to understand at its core. Essentially, it’s a shared database populated with entries that must be confirmed and encrypted. Think of it as a kind of highly encrypted and verified shared Google Document, in which each entry in the sheet depends on a logical relationship to all its predecessors. Blockchain tech offers a way to securely and efficiently create a tamper-proof log of sensitive activity (anything from international money transfers to shareholder records).

Blockchain’s conceptual framework and underlying code is useful for a variety of financial processes because of the potential it has to give companies a secure, digital alternative to banking processes that are typically bureaucratic, time-consuming, paper-heavy, and expensive.

What are cryptocurrencies?

Cryptocurrencies are essentially just digital money, digital tools of exchange that use cryptography and the aforementioned blockchain technology to facilitate secure and anonymous transactions. There had been several iterations of cryptocurrency over the years, but Bitcoin truly thrust cryptocurrencies forward in the late 2000s. There are thousands of cryptocurrencies floating out on the market now, but Bitcoin is far and away the most popular.

How do you mine cryptocurrency?

Bitcoin, Litecoin, Ethereum, and other cryptocurrencies don’t just fall out of the sky. Like any other form of money, it takes work to produce them. And that work comes in the form of mining.

But let’s take a step back. Satoshi Nakamoto, the founder of Bitcoin, ensured that there would ever only be 21 million Bitcoins in existence. He (or they) reached that figure by calculating that people would discover, or “mine,” a certain number of blocks of transactions each day.

Every four years, the number of Bitcoins released in relation to the previous cycle gets reduced by 50%, along with the reward to miners for discovering new blocks. At the moment, that reward is 12.5 Bitcoins. Therefore, the total number of Bitcoins in circulation will approach 21 million but never actually reach that figure. This means Bitcoin will never experience inflation. The downside here is that a hack or cyberattack could be a disaster because it could erase Bitcoin wallets with little hope of getting the value back.

As for mining Bitcoins, the process requires electrical energy. Miners solve complex mathematical problems, and the reward is more Bitcoins generated and awarded to them. Miners also verify transactions and prevent fraud, so more miners equals faster, more reliable, and more secure transactions.

Thanks to Satoshi Nakamoto’s designs, Bitcoin mining becomes more difficult as more miners join the fray. In 2009, a miner could mine 200 Bitcoin in a matter of days. In 2014, it would take approximately 98 years to mine just one, according to 99Bitcoins.

Super powerful computers called Application Specific Integrated Circuit, or ASIC, were developed specifically to mine Bitcoins. But because so many miners have joined in the last few years, it remains difficult to mine loads. The solution is mining pools, groups of miners who band together and are paid relative to their share of the work.

Current & future uses of blockchain technology & cryptocurrency

Since its inception, Bitcoin has been rather volatile. But based on its recent boom — and a forecast by Snapchat’s first investor, Jeremy Liew, that it would hit $500,000 by 2030 — and the prospect of grabbing a slice of the Bitcoin pie becomes far more attractive.

Bitcoin users expect 94% of all bitcoins to be released by 2024. As the number moves toward the ceiling of 21 million, many expect the profits miners once made from the creation of new blocks to become so low that they will become negligible. But as more bitcoins enter circulation, transaction fees could rise and offset this.

As for blockchain technology itself, it has numerous applications, from banking to the Internet of Things. In the next few years, BI Intelligence expects companies to flesh out their blockchain IoT solutions. Blockchain is a promising tool that will transform parts of the IoT and enable solutions that provide greater insight into assets, operations, and supply chains. It will also transform how health records and connected medical devices store and transmit data.

Blockchain won’t be usable everywhere, but in many cases, it will be a part of the solution that makes the best use of the tools in the IoT arsenal. Blockchain can help to address particular problems, improve workflows, and reduce costs, which are the ultimate goals of any IoT project.

Written By: Andrew Meola