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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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
Read more at https://bit.ly/2RD2BjL
Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
Read more at https://bit.ly/2X8aA9W
Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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