âBitcoin didnât do everything right,â Carroll further states. âI donât know whether becoming the currency of choice for murder-for-hire and drug deals helped them much. But itâs often the case that those early pioneers make missteps that are corrected by succeeding initiatives, which may be what will happen here.â
John Carroll, a Distinguished Professor of Information Sciences and Technology at Penn State University, believes that Bitcoin will lose its shine in future, if there be any additional improvements in other alternative digital currencies, or altcoins. His comments are derived from a scenario where Bitcoin will be the victim of some âpioneerâs penaltyâ if it failsÂ to add anything more to the table. In simple words, who will use an acoustic string telephone when he could access aÂ mobile phone.
The arrival of some feature-rich digital currencies, on the other hand, does support Carrollâs futuristic theories. At one point, we have Ripple â a payment protocol and a value-carrying token â that is known to be harnessing the most from the Bitcoin technology. At another, we have Dash (formerly known as Darkcoin), which is leaving no-stone-unturned in bringing out a consensus-based decentralized governance model for the entire cryptocurrency community.
Against all the critical expectations, Bitcoin is growing â and is promising to revolutionize some of the biggest, well-settled banking infrastructures with its indisputably advanced blockchain technology. But according to an accomplished IT scholar, there is still a scope of improvement in the digital currency.
Professor Carroll secretly refers these innovative altcoins to surpass, or even replace, the mightier Bitcoin. At first, the formers have the courage to experiment endlessly, given the small size of their communities. And as it seems, they are in the right direction to make a name for themselves. Bitcoin community, on the other hand, is still fighting over their chief developerâs decision to increase the block size. The lack of consensus and governance is accurately visible. It couldÂ certainly impact the currencyâs growth in future, if not addressed properly.
Banks Buy Stakes in Blockchain Startup SETL
Financial services group Citi has bought a stake in blockchain startup SETL.
The move, announced today, comes less than three weeks after the French banking institution Credit Agricole also became
Long Blockchain Is At Risk for Exchange Removal Again
Long Blockchain, the beverage company-turned-crypto-firm, is facing a delisting from the Nasdaq stock exchange, public records show.
The reason lies in Long Blockchain's sliding stock price, which
Bitcoin thieves threaten real violence for virtual currencies
The currency they were after was virtual, but the guns they carried were anything but. In the beach resort of Phuket, Thailand, last month, the assailants pushed their victim, a young Russian man,
Lithuania's Central Bank Probes 100 Million Euro ICO
Lithuania's central bank announced last week that it is probing a domestic initial coin offering (ICO) after determining that the token offered counts as a security.
In a Feb. 15 statement, the Lie
Record Retest? ETC Looks Poised on Double-Digit Climb
ETC, the native currency of the ethereum classic blockchain, looks set to re-test record highs, having now formed a base above $30.
As of writing, ETC is changing hands at $37.90, as per data sourc
$850 Million Raised in ICO So Far, Says Telegram
Messaging app provider Telegram says it has raised $850 million in the first part of its controversial initial coin offering (ICO), public records show.
If confirmed, the raise is by far the larges
Bottom Confirmed? Bitcoin at 20-Day High Near $11K
The bitcoin price has rallied 84 percent from recent lows, suggesting a bottom is in place, although a long-term bull revival is still not certain, according to the price charts
Over the weekend, C
Australian Watchdog Received 1,200 Crypto Scam Complaints in 2017
Australia's consumer watchdog has reportedly received over 1,200 complaints about cryptocurrency scams in 2017.
According to the ABC's current affairs program 7.30, data obtained from the Australia