TL;DR 5 Sentence Summary - Blockchain or Distributed Ledger? Defining the Requirement, Not the Technology
You don't have too read too many articles to sense the lack of cohesion in technology views as to what the various pluses and minuses of Blockchain technology may be.
Not all Digital markets have the same characteristics so the simple common requirement definition splits into two major, different requirements introducing the split between the two major technology approaches; Blockchain and Distributed Ledger Technology, known as DLT.
There is one fundamental difference between Blockchain supporting FinTech and Distributed Ledger Technology supporting IoT. Participants in the former are permanently connected to the network to maintain their registers and authentication, whereas IoT devices are often only periodically connected to conserve battery and bandwidth usage.
As a generality the development of Blockchain with its secure use of 'Block' technology suits the primary requirements of FinTech, whilst the inherent limitations that Blockchain imposes make it less suitable for the development of Mass Update of Asset Registers solutions.
The recent IoTA announcement entitled 'IoTA's Tangle meets IOT requirements better than any Blockchain', sums up the issues to be addressed and compares Blockchain technology with the IoTA Distributed Ledger Technology.
I think with all of the buzz from the past few months about decentralized applications and ICOs, there's a lot of fantasies about Blockchain technology eventually connecting the world in a more cohesive and fair manner. Maybe.
Or maybe the limitations of scaling, which we've already encountered heavily with Bitcoin and Ethereum may never truly be solved without changing the Blockchain protocol completely.
IOTA has been making a lot more buzz the past few weeks and I'm starting to pay much closer attention to it. It's similar to Blockchain, but the consensus mechanism doesn't differentiate between transactor and validator, which promises ridiculous scaling. Keep a close eye on this unique and very interesting bleeding edge technology.
Hi @elowin, great content and upvoted like always. I've a question to an cryptotrader like you. I made a top 5 of my favourite cryptoinvestment for the coming period. Would you agree with some of them? Especially with IOTA? Here is my crypto top 5 if you are interested.
Hey @unknowncrypto
Thanks for the kind words. Great article, and I agree with most of them. Here are my thoughts:
#1) Dash -
I agree with you here that this will most likely be one of the major players in the next few years. They have a very ambitious roadmap, and they have a great self-funding treasury to pull it off. The marketing is also one of the best among the major coins. I can see this hitting $1k per coin in the next year.
#2) LTC -
Litecoin is the original altcoin. It's been battle-tested the same as BTC, but with all of the hoopla about scaling this past couple of years, LTC is starting to become noticed as a possible alternative. However, BTC's inner fighting seems to be coming to a halt -- at least temporarily -- and I think this will hamper LTC's growth for the near future. However, long term, it's still a great coin to hold.
#3) Golem -
When I first learned about Golem, I was very excited. But then I thought about it more and I felt like owning a piece of technology that's dependent on the success of a specific chain is a bit too much risk. I'd rather buy Ethereum than Golem in this case because if Ethereum doesn't scale properly, Golem will be hit hard.
#4) BTC -
It's looking more clear that BTC will be around for a long time. I feel that their community should just accept it as digital gold, and to stop messing with the protocol. By trying to add more things to it to make it better, they risk introducing more issues.. stop trying to make a car fly.
#5) IOTA -
I just started seriously digging into the tech a week ago and I'm blown away at the potential. It's still early days but they are one of the most transparent and professional tokens on the market. They're bringing in very good talent across a spectrum of different industries (all relating to IOT), and they are focussed on one thing -- standardization of IOTA into IOT devices. I haven't been this excited for a new tech since Ethereum.
Other notable coins I really like -- NEM and STEEM.
Thanks for reading, and I've followed you back. Cheers
upvote your post my friend
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