The proponents of the cryptocurrency space have always been responsible for informing the larger crypto-community about the latest developments in the ecosystem and have played a huge role in answering queries related to the technology. One of the major examples of a crypto luminary lending a helping hand is Andreas Antonopoulos, the author of Mastering Bitcoin and a major Bitcoin bull.
In his latest video, Antonopoulos answered questions about the effects of blockchain technology in various fields, mainly focusing on its effect on the Internet of Things [IOT] and its use for selling power. He was first asked if blockchain could be used to solve the glaring problems in IOT, to which he answered:
“I am quite skeptical about using blockchain technology in IOT devices. The thing is I do not know what the benefits are and how it would be different from using a dedicated IOT database. What are the benefits really, I don’t know.”
The Bitcoin bull was of the opinion that technologists may be able to use a public decentralized blockchain in a way that it maintained the information, which can be changed in the future, in the database. This feature could be attributed to the blockchain’s ability to access information at any point in time without being tampered with.
“A lot of people use the term blockchain to address something that is effectively a database that does digital signatures. Even more are going to mash the term IOT and blockchain together to generate some new solution but that is not how it works. These are some of the few reasons why I am very skeptical about integrating blockchain technology in areas where it is not required.”
The Bitcoin proponent was also in the news recently when he explained the reasons behind unknown block versions being mined. He had said this in connection with some users claiming that they were shown messages that read ‘Unknown block versions being mined as possible unknown rules are in effect’ when a Bitcoin core node was run.
According to the computer scientist, this message was intended to show that miners were using the block version field with the block header in a way to create a larger number of block hash permutations.
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Brad Garlinghouse on Facebook’s Libra, CZ on Binance U.S and more
Crypto News – 19 June – Brad Garlinghouse on Facebook’s Libra, CZ on Binance U.S and more
— AMBCrypto (@CryptoAmb) June 19, 2019
Crypto News – 19 June
Bancor follows Binance, Bittrex’s footsteps: Decentralized trading platform, Bancor, recently announced in a blog post that citizens of the United States will no longer be able to use the Bancor application to convert tokens
Read more at https://bit.ly/2N75NFE
Jameson Lopp on Libra: Lopp speculates that it “sounds an awful lot like Proof of Stake” and like Ethereum, it will face the same problems
Read more at https://bit.ly/2IU3AIq
Crypto-news website sued: Photographer John Curtis Rice has filed a lawsuit against Cointelegraph, a popular cryptocurrency news website, for allegedly using a copyrighted photograph of Charlie Shrem
Read more at https://bit.ly/2MXBlhv
Delaware approves Bittrex’s Money Transmitter license: Bittrex, a leading cryptocurrency exchange in the United States, recently announced that Delaware had become the 42nd state in the United States to give it a money transmitter license
Read more at https://bit.ly/2Kt34nR
LongHash on Tether’s health: A recent LongHash report has claimed that despite controversies, Tether is ‘extremely healthy,’ scoring a health score of 90 on 100
Read more at https://bit.ly/2MXFrpO
Binance’s BTCB proposal: CEO CZ confirmed that a proposal to list BTCB on Binance DEX had been submitted
Read more at https://bit.ly/2IoMLpY
Nouriel Roubini on Bitcoin: Prominent Bitcoin basher Roubini cited British MP Alex Sobel’s article on cryptocurrencies to attack BTC again, calling it a ‘scam’
Read more at https://bit.ly/2N4xW02
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