Blockchain
Digital Securities Guru Thomas Carter on The Two Keys That Will Unlock Mass Adoption of Cryptocurrency/Blockchain in 2020
New York, NY, Jan. 09, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Blockchain technology saw exponential growth in 2019, unprecedented adoption and interest by governments and institutions around the world validating it’s utility.
With core infrastructure being built out across the planet, enterprise investment and regulatory pathways being defined the stage is set for 2020 to be the year for mass adoption of blockchain technology.
Thomas Carter, digital securities pioneer, and CEO of DealBox outlines two key trends that will bring about massive opportunities in the blockchain space in this new year.
Key 1 – The Fat Protocol & Next Generation Blockchains
Joel Monegro’s Fat Protocol thesis describes how the value of blockchain technology is based on an opposite paradigm to the way value was created via the internet over the past couple of decades.
The protocol layer of the internet (HTTP, FTP, SMTP, etc) which is the technology that provides the underlying mechanics for websites, file transfers, and email isn’t where the value was created.
Instead, the apps that used the protocols (Facebook, Google, Amazon, etc) were the winners. Thus, the “thin protocol” designation.
In the Blockchain ecosystem we see the inverse is true where value creation will be realized by the market cap of the underlying blockchain protocol as opposed to the apps being built on it.
In other words, the value in the Ethereum blockchain can be expected to be more than the dApps (decentralized apps) being built on it. Fat Protocol.
This thesis holds true only if the blockchain in question has solved the TPS (transactions per second) or throughput problem.
1st and 2nd generation blockchains like Bitcoin and Ethereum rely on consensus mechanisms that put a huge drag on transaction speed making them unviable by enterprise adoption standards.
3rd generation blockchain is all about increasing transaction speed without compromising the security, immutability and distribution of the chain.
To solve the TPS problem, various new consensus mechanisms are being developed along with sidechain technology.
Sidechains are a separate and parallel data layer that off-loads some of the data from the mainchain thereby reducing the amount and frequency of needing to wait for consensus confirmation.
Gorbyte, founded by Giuseppe Gori is one project in particular just coming out of stealth mode that has created an elegant solution to the problem of blockchain scalability.
Gorbyte’s GNodes system eliminates the need for miners which has been the traditional bottleneck for TPS.
George Gilder is a legend in tech and economic circles. His book Wealth and Poverty was the guiding light for Regan’s economic policies which ignited the rise of the Dow Jones Industrial Average from roughly 800 in 1979 to where it is today.
Gilder predicted much of the ubiquitous tech in use today years before it existed in his books: Microcosm, Telecosm, Life After Television, and The Silicon Eye.
In this latest book, Life After Google.. Gilder coins the term “The Cryptocosm”, to describe the emerging wave of innovative blockchain-based technology companies who are not just bringing paradigm shifting solutions to the market — but redefining the market itself.
Gilder recently had this to say about DealBox security token issuer Giuseppe Gori in this latest newsletter
“Giuseppe Gori is an internet legend..”
On Giuseppe’s new book –
“With Reinventing the Blockchain Gori becomes the reigning prophet of the next phase of the Cryptocosm, and Cryptocosmic investment…”
“Gori is the tribune of a new generation of blockchain inventors and their companies.”
Giuseppe’s company Gorbyte has built a blockchain that is faster and vastly more scalable than Bitcoin. It’s easier and more affordable for running smart contract applications than Ethereum.
Key 2 – Usability
Blockchain is different from the traditional internet in that it incorporates a shared data layer rather than data being siloed and monetized by companies like Facebook, Instagram, Reddit, etc.,
For those companies, the better model would compensate the users for creating the content and empower them to take their content elsewhere if a better deal became available. With data decentralized, security would be much better and privacy would be better protected.
That’s exactly what a decentralized application built on an open data protocol would do. And the compensation of the users is what a native cryptocurrency token would satisfy in this new business model.
Why isn’t this being done en masse? Bitcoin is now over a decade old. Bitcoin miners have been incentivized by receiving tokens and that is precisely why Bitcoin works as well as it does. The model is proven.
Actually, a number of entrepreneurs have tried. Steem is like a decentralized Reddit with a token incentive model and it has been chugging along for sometime.
There are 150 + decentralized apps in the Blockstack app store and a similar thriving ecosystem can be found on Ethereum.
We know that TPS/scalability has been a problem but there is a second key component and that is usability.
Usability for blockchain is in dire need of a refactoring. No matter how amazing a technology is if it is hard to use, people simply won’t use it. More accurately, if they can’t figure out how to use it – they can’t use it.
We now have scalability solved with next generation blockchains like Gorbyte and a consortium of other ventures are now working together on a shared vision to improve blockchain usability called “Make Crypto Easy”.
Thomas Carter on the current situation:
“With blockchain tech and cryptocurrency, we aren’t dealing with a typical market adoption learning curve. Bitcoin was born of iconoclastic ideals and philosophy. If you were a technologist and you resonated with the philosophy behind Bitcoin, then you would figure out how to use it. In other words, user-friendliness wasn’t ever a consideration until now and that was mostly on purpose.”
The Make Crypto Easy consortium venture members are focused on solving usability issues in 4 areas of user blockchain user-experience: Transactions, Identity, Education and Digital Banking.
To learn more about the ventures and groundbreaking technology spearheading this initiative please visit http://www.makecryptoeasy.io/
As blockchain technology and the verifiable distributed trust it confers continues to reshape the world of finance that directly impacts the fundamental ways we all transact online.
Addressing the Two Key issues of scalability and usability will remove the final friction points to widespread user adoption.
With the pace of progress being made by the ventures mentioned above as well as by other projects in the crypto space, 2020 is likely to be the tipping point for massive disruption and opportunity.
Thomas Carter, founder and CEO of DealBox, Inc; read about Thomas: “This FinTech Veteran Is Making Cryptocurrency Startup Funding Legitimate“; connect on LinkedIn and Instagram.
Contact:
Shazir Mucklai
Imperium Group
Blockchain
Decentralized science can be the next big thing for blockchain utilization
Decentralized science leverages blockchain’s decentralized ledger technology to address common challenges faced by researchers, including data integrity, reproducibility, and collaboration. By recording scientific data and research findings on a tamper-proof blockchain, researchers can ensure the integrity and authenticity of their work, reducing the risk of data manipulation or fraud.
Moreover, blockchain enables transparent and traceable peer review processes, allowing researchers to validate and verify each other’s work more effectively. This enhances the credibility and reliability of scientific publications, fostering trust within the scientific community and among the general public.
Blockchain-based platforms also facilitate greater collaboration and knowledge sharing among researchers, breaking down traditional barriers to access and enabling interdisciplinary collaboration. Through decentralized science platforms, researchers can securely share data, resources, and expertise, accelerating the pace of scientific discovery and innovation.
Despite its potential benefits, decentralized science still faces challenges, including regulatory uncertainties, technological barriers, and resistance to change within the scientific community. However, as blockchain technology continues to evolve and gain acceptance, decentralized science is poised to emerge as a transformative force in scientific research and collaboration.
Source: cointelegraph.com
The post Decentralized science can be the next big thing for blockchain utilization appeared first on HIPTHER Alerts.
Blockchain
How blockchain-based voting can restore trust in the electoral process
In this article we’re discussing the potential of blockchain-based voting systems to rebuild trust in electoral processes. These systems leverage blockchain technology’s transparency and immutability to address concerns surrounding election integrity and voter fraud.
Blockchain-based voting solutions offer several advantages over traditional methods, including increased transparency, security, and accessibility. By recording votes on a decentralized ledger, blockchain ensures that each vote is securely stored and tamper-proof, reducing the risk of manipulation or fraud.
Moreover, blockchain-based voting systems can enhance voter participation by providing greater accessibility to remote and disenfranchised populations. Through secure digital platforms, voters can cast their ballots from anywhere, reducing barriers to participation and promoting inclusivity.
Despite the potential benefits, the adoption of blockchain-based voting systems faces challenges, including regulatory hurdles and technological limitations. Governments and electoral authorities must navigate these obstacles to implement effective and trustworthy voting solutions.
Overall, the article highlights the transformative potential of blockchain technology in restoring trust and integrity to electoral processes. By embracing innovative voting systems built on blockchain, societies can uphold democratic principles and ensure fair and transparent elections.
Source: tradingview.com
The post How blockchain-based voting can restore trust in the electoral process appeared first on HIPTHER Alerts.
Blockchain
Binance Integrates USD Coin (USDC) on CELO Network
Binance has announced the integration of USD Coin (USDC) onto the Celo network, marking a significant step forward in expanding the utility and accessibility of USDC within the cryptocurrency ecosystem.
This integration enables users to seamlessly transfer USDC tokens across the Celo network, leveraging its high-speed and low-cost transactions. By integrating USDC on Celo, Binance aims to enhance the interoperability and accessibility of USDC, making it easier for users to engage with decentralized finance (DeFi) applications and access financial services on the Celo network.
USDC is a stablecoin pegged to the US dollar, offering users a reliable and transparent means of transacting value on the blockchain. With its integration on the Celo network, USDC gains access to Celo’s ecosystem of decentralized applications (DApps) and services, further expanding its utility and adoption.
The collaboration between Binance, USDC, and Celo underscores the growing importance of interoperability and cross-chain compatibility within the cryptocurrency space. By leveraging the strengths of each network, users can benefit from enhanced liquidity, accessibility, and functionality when using USDC on the Celo network.
Overall, the integration of USDC on the Celo network represents a significant milestone in advancing the capabilities of stablecoins and decentralized finance, providing users with greater flexibility and choice in managing their digital assets.
Source: blockchain.news
The post Binance Integrates USD Coin (USDC) on CELO Network appeared first on HIPTHER Alerts.
-
Blockchain Press Releases7 days ago
Canaan Shines at Blockchain Life 2024 in Dubai
-
Blockchain6 days ago
Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics
-
Blockchain6 days ago
Crypto fans count down to bitcoin’s ‘halving’
-
Blockchain6 days ago
Tether USDT stablecoin goes live on TON blockchain
-
Blockchain Press Releases6 days ago
DWF Labs joins the Klaytn Governance Council
-
Blockchain Press Releases2 days ago
DeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain6 days ago
Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest
-
Blockchain6 days ago
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing