- When the digital currency is separated from the decentralized consensus mechanism of third parties, it is easy for the participant involved in the market transaction to get into a panic once a security problem arises. That’s why the overall digital currency market is a bear market this year. The current security issue of digital currency, especially the security of smart contract, which simply refers to extremely simple smart contracts such as token contracts, has entered a period of high-frequency. Once more complex smart contracts are involved, the problem will be worse, which need to be brought to the forefront.
- The security issues in the blockchain field actually highlight a contradiction in the blockchain itself. As a decentralized consensus mechanism which cannot be tampered, the blockchain itself cannot solve the security problem, and its ledgers formed by linked data structure can only ensure the recorded data can not be tampered (or the cost of tampering is huge and not easy to occur).The protaction of the data requires the participation of more technological means.
- Investors really nead to understand the inherent meaning of virtual currency to controll them freely and make them more valuable. So we need to grow with time, otherwise, as pioneers of blockchain, you may lose money, but others may pile up a great fortune.
Would any of us argue the original concept behind the creation of bitcoin was brilliant? To the point the technology spawned from it is still in its "infancy" in transforming the way we live? A critical part of the original concept, to me, was taking steps to ensure there would never be more than a finite amount. And, then just like gold "in the real world," it would become harder and harder to "find" whatever gold had yet to be discovered. Again, absolutely brilliant to come up with a virtual recreation of what we find in nature!!
Let's see what other comments may "come in" on your post, as we should all benefit from good intentions in discussions focused on this important issue for us all.
seems to me the best tech out there, and probably the right move forward for blockchain.
by far !!!!! dpos is the future!!!!!
Have a great day (night)! 👍
I agree!
if mining Bitcoin ever becomes unprofitable for miners, then we can rest assured the blockchain will fail.
So, here is a question. If it was "easy" to find and mine gold, would not then everyone would have a "boatload?" And, therefore, we would find it's value greatly diminished? To the point of near worthlessness?
It does seem like Proof of Stake is a lot better.
This post was really helpful, thank you for your input, much appreciated,
Happy Travels
We agree, however I think that its current use is setting a trend in the economy, I am inclined towards the lack of information about it and the possible benefits to our
I agree with your points, and maybe your thoughts are more balanced than my own.
Awesome article!
Have a lovely day.
That's so true, the last 6 months we're tough to widthstand mentally. The only thing that made me hodl is because of the general goal of cryptocurrencies.
We're in a bear trend bud, deal with it bulls. Do something else, rest for a year while bitcoin slumps. More opportunity awaits, more time to learn, more time to refresh your body and mind from checking your porfolio, better prices to buy at are coming.
Very good you have great knowledge about crypto currency.
... the way cryptos work and operate is still not easy enough for it to become mainstream ...
It does seem like Proof of Stake is a lot better.
"...the current crypto market seems to act as if its testing our emotional fortitude..."
That is true!
Sure, it will surely comes up again.