BITCOIN
Blockchain Beats Bitcoin in 2018?

2018-01-12 22:49:38
by Dominic Brown
img
Many cryptocurrency analysts and investors see 2018 as a turning point, with the blockchain coming into greater prominence.

Many cryptocurrency analysts and investors see 2018 as a turning point, with the blockchain coming into greater prominence. After the 2017 Bitcoin hype, it is evident that it still has many inherent usage problems: clogging block transactions and scalability led to the Bitcoin Cash (BCH) fork in August, but BTC remains slow and expensive to use.

\r\n

Bitcoin is riding high on the interest generated by its launch on the futures markets in Chicago, but in spite of the high valuations, Bitcoin\'s major protocols are still not delivering full value to its users. In a year-end Coindesk opinion piece, cryptocurrency investor Jez San, CEO of a casino platform built on the Ethereum blockchain, says that bitcoin is not suitable as a payment system, as transaction fees are the same to send $100,000 or buy a cup of coffee.

\r\n

While developers produce forks and fixes for Bitcoin\'s problems, including the potentially spurious SegWit2X launched on December 28th, San believes that 2018 will see more focus on Ethereum blockchains.

\r\n

The potential market for smart contracts, with their decentralized system for finance and commerce, could far outrun the existing store of value system. In a simple computer analogy, San compares bitcoin to the early implementation of DOS, while ethereum would be a modern operating system like Mac or Windows, as a forerunner to massive new development initiatives.

Similar News
img
NEWS
How SEW Capital Unlocks Funding Potential for Blockchain Startups
2025-01-16 15:52:13 | by Scan Team

The blockchain industry has grown exponentially, disrupting traditional markets and creating new opportunities for innovation.

More
img
NEWS
UAE's $40 Billion Bitcoin Hoard: Crypto Hub of the Future!
2024-12-28 17:24:29 | by Scan Team

The UAE has amassed $40 billion in Bitcoin, solidifying its ambition to become a global cryptocurrency hub.

More
img
NEWS
Craig Wright sentenced to 12 months in prison, suspended for two years
2024-12-26 16:56:13 | by Scan Team

Australian Computer Scientist Craig Wright Found in Contempt by UK High Court

More
img
NEWS
MicroStrategy Expands Bitcoin Holdings to 444,262 BTC Amid Equity Sales Concerns
2024-12-25 18:12:53 | by Scan Team

In a bold move reinforcing its commitment to cryptocurrency, MicroStrategy announced the acquisition of 5,262 bitcoins for $561 million, elevating its total Bitcoin holdings to an impressive 444,262 BTC, valued at approximately $42.1 billion.

More