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RE: Behavior and evolution of cryptocurrencies ten years after its creation / What to expect from them in the future?

in #blockchain6 years ago

Thank you for making me aware of this post Piotr. Great read.

@fucho80, reading your post reminded me of why everyone was so excited about Bitcoin and crypto's in general. Very good read.

For myself, when I look back, I think the most important item is the issue that the Bitcoin code solved. Essentially it addressed the Byzantine general issue. Let's say you have a number of generals deciding on whether or not to attach a foe. No one general can succeed with out some of the others, but who will go first and who will follow. The logic behind the Bitcoin code solved this problem using the concept of a blockchain protected with cryptography. Cutting edge at the time.

The Bitcoin code opened the door for more cryptocurrencies who have moved from proof of work to proof of stake and even a few other modes. But to my way of thinking, it is not the value of the coins or tokens that is important, but the trustless structure that can and are being built by top businesses.

Major companies such as Ford, Google and Amazon are taking out patents on blockchain technologies at a very rapid pace. So while coins may come and go, the technology is here to stay and will continue to evolve.

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Friend @guysellars, thank you for visiting my publication and drop this comment that has impacted me.

Let's say you have a number of generals who decide whether or not to unite an enemy. No general can succeed without some of the others, but who will go first and who will follow him. The logic behind the Bitcoin code solved this problem using the concept of a blockchain protected with cryptography. The vanguard at the moment.

Wooo, A scientific and detailed analogy, is a very good explanation of the Blockchain and its operation, I agree with you is a very safe innovator that generates trust in people, which makes Bitcoin and cryptocurrencies a very valuable asset.

Major companies such as Ford, Google and Amazon are obtaining patents on blockchain technologies at a very fast rate. So, while currencies can come and go, technology is here to stay and will continue to evolve.

This of the main companies adapting to the use of the blockchain further strengthens the trust in Bitcoin. This becomes an engine that drives Bitcoin to its real value. If you have not got it yet.

Thanks once more for your comment, you leave me a valuable teaching.
Pr EV

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