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RE: BITCOIN PRICE PREDICTIONS - Chart Display - Part 3 - The S curve (More good news!)
I wonder what will become of blockchain, how it will evolve. Just looking at the evolution of mobile phones for example, first analogue, then digital, then the different modulation systems, GPRS, EDGE, the 'G' evolutions etc.
I don't think blockchain will stay exactly the same, I expect it will constantly evolve into something we won't recognise in a few years time. Will be interesting to see it unfold over time.
Very good question. The question is more how will it evolve, or even will it be replaced?
I believe that the blockchain is here to stay. The idea is sound and does not need much modification. The methods of implementation may well evolve i.e. the hardware and software the blockchains run on. It's like having tar roads. The roads don't need to change, but the vehicles that run on them do.
So blockchains will become sleeker and more efficient. Already we have seen much of this: Segwit, the Lightning network, trinity, PoS vs PoW, environment friendly mining etc. Fundamental breakaways from the core blockchain design (like hashgraphs and tangles) have received a firm "meh" from the crypto universe.
You see, a blockchain can already do everything that it is required to do, there is no need to change it as an underlying construct. Secure? Check. Immutable? Check. Freely accessible? Check.
No tech is perfect, but I believe that blockchains will be around, largely unchanged, for a long time to come. They may look very different 20 years from now, but under the hood the differences will be small. Sort of like Microsoft Windows: Windows 10 LOOKS very different to Windows 3.1 from the 90s, but their core systems are largely unchanged, there is just a veneer of modern influence and compatibility pasted over the top.
I think it's possible it might be replaced. Now the 'idea' is out there in the public sphere then some smartarse will probably come along with a better version, that's how it normally goes for most new tech lol.
The concept was great with Bitcoin etc, but the fact that transactions are now so slow and cost so much it's useless as its intended purpose, as an alternative to fiat. Such a shame, I think it was a victim of it's own success. But as you said, things are always developing and moving forward, so the future looks good.
Nano uses the same tech and is virtually instant. The lightning network can have the same effect for BTC. MOST cryptos transact much faster than BTC.