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Blockchain is a brand new technology. Not only is it mostly untested, but the implications and the use cases of distributed register technology are not yet fully realized, to say the least.
With our regular TNW response sessions, we have given decentralized technology leaders and disruptors a platform to discuss and explore the industry at the forefront of the industry.
A series of prominent blockchain characters answered questions from a curious community of cryptocurrencies in 2018, including David Schwartz of Ripple Labs and long-standing cryptocurrency guru and creator of Dogecoin Jameson Lopp.
Here are some of the highlights, just so you're ready to do your homework before facing a new year of TNW Answers.
The Ripple Labs CTO confirms the Bitcoin stock
David Schwartz is the technology manager for Ripple Labs, the decentralized technology company behind the XRP token.
When he sat down with TNW to allow the public to ask what they wanted, Schwartz revealed that he believes that the cryptocurrency market is certainly big enough to have at least some different cryptocurrencies to succeed.
"We anticipate that this will not be a success to take all the results, but instead a number of digital resources can survive for specific use cases," he said. "Today, for example, Ethereum provides a function" programmable money "that the Led XRP register He can not. Adding this functionality to the XRP registry would result in huge costs that reduce the suitability of XRP to payments. You can not have everything. "
Schwartz noted that while XRP offers some low-cost payment features, it does not support programmable behavior such as smart contracts. In this regard, Schwartz does not see XRP as "the only digital resource at any time, if ever".
So he pleaded for the industry to come together to survive the bear market. Keep in mind, this TNW Answers session was held in August, when the price of Bitcoin it started bursting below $ 7,000.
"[Distributed ledger technology] It's really a turning point and I'm taking it too [Bitcoin]. If nothing else, the current market mechanics tell us that we are all involved in this whole and I do not think of a crypto [sic] the project can be successful by pulling down others, "wrote Schwartz.
Click here to find out what else was asked of Schwartz, including his favorite soda.
We have learned the warning signs of cryptocurrency addiction
The Scottish Castle Craig Hospital made waves in May, when it was the first of its kind to offer treatments for cryptocurrency merchants trying to gain control over their commercial digital currency afflictions.
TNW Answers has subsequently invited Castle Craig experts to help break down the way their therapy works, giving an idea of how cryptocurrency trading is obsessive to problem gambling.
"What distinguishes [cryptocurrency] Trading from other games of chance is its volatility, the sense of mystery and excitement and the large sums of money that can be made or lost, as well as the possibility of doing it 24 hours a day, 7 days about 7 ", explained the therapist Chris Burn." These are all factors that appeal to a compulsive gambler ".
According to Burn, these are signals of dependence on the trading of digital currencies:
- Spending a lot of time on cryptocurrency trading, checking prices and thinking about activities – so that other occupations such as work, socialization and training are not carried out.
- Debts and financial problems
- Lying to friends and family about their activities / problems
- Oscillations of mood, feelings of despair and depression
- Anxiety, which leads to physical symptoms such as sweating and tremors
- Unrealistic opinions like being "lucky", chasing losses
- Attempt to control the activity without success.
You can read the rest of their information on the cryptocurrency addiction here.
Quantum computing could come for your Bitcoin
A certain presence looms over the blockchain industry: quantum computing, super-fast computers thought to be one day capable of undermining the cryptographic principles used by cryptocurrencies like Bitcoin.
When blockchain developer Jameson Lopp joined TNW Answers at the beginning of the year, it was prudently asked how the advent of quantum computing could affect the future sustainability of current resources digital.
While Lopp argued that the problem of quantum computing would have "far-reaching effects" beyond the space of the blockchain, it is only assuming that general quantum computing turns into reality.
"As is nature with cryptography in general, we often have years in advance to predict that some operations are degrading in their computational security," wrote Lopp. "It is unlikely that general quantum computing will appear from one day to another and surprise everyone, so it is safe to assume that any aspect of encrypted network protocol security will be updated before a quantum computer can simply detect the network."
In any case, Lopp has said that cryptocurrencies generally have a long way to go before companies not involved in cryptocurrency adopt digital money like Bitcoin. One day, however, consumer demand could convince traditional businesses to integrate with the Internet of Money.
"Finally, we have a lot of security and scalability issues to deal with before we think we'll see mass adoption from a consumer perspective," said Lopp. "We hope the network effect will grow to the point that, just like with credit cards, businesses will lose revenue if they do not add support."
Come back with TNW Answers in the new year for more interesting sessions like these, since the blockchain industry tries to find the mature base needed to continue building.
Published January 3, 2019 at 12:00 UTC
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