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oreneaster

Bitcoin Gloom? Cheer Up Individuals. Everything is Moving Forward!

Jun 30th 2018, 8:59 pm
Posted by oreneaster
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Apparently the community sentiment toward cryptocurrencies is darkening, however again, as a result of recent cost drops. The culprit right behind these massive sell requests? You already know the particular answer, Mt. Gox financial institution.

Google trends quickly display how the community is usually reacting to the current events: people’s interest will be as low as it was in May 2017. Pretty damn darn, isn’t it?



If you’re foraging for that slightest light of hope, let me assist you: today we’ll concentrate on the good items, starting now. Forget coin price, neglect volume and forget trading. Today none of it matters, as I’m here to tell you how far cryptocurrencies have come and what they’ll potentially enable in the not-so-distant future.



Please, enjoy the ride!

᾿ this post is not financial advisement, simply my estimation and thoughts. Most of my personal savings are in some type of cryptocurrency so please take whatever I say with a grain of sodium. Do not invest what you cannot afford to lose᾿

Technology
A few couple of points we need to discuss regarding recent developments in the cryptocurrencies world, primarily in bitcoin and the blockchain but not solely, which usually can trigger a brand new influx of adoption not just from people in general but also by businesses and governments.

For bitcoin plus its blockchain, we can mention the two most essential recent developments, being discussed by many people great minds everywhere:

(a) Segwit adoption: along with the successful softfork that happened during August 2017, which implemented segregated witnessing, it became possible in order to incorporate more transactions in each block as the transactions became smaller. The problem is that segwit wasn’t being adopted worldwide because the transition which had to be made simply by mining companies and business businesses (exchanges for example), was a manual activation. So businesses waited until segwit was proven to be secure and only then activation happens. Right now there is another version that says activation didn’t occur sooner as the overall fees will decrease with regard to mining companies. How is usually segwit adoption looking more than the last 30 times, right now of writing? Consider your own conclusions!



http://segwit.party/charts/#

(it already more compared to doubled. Couldn’t resist, sorry)

(b) The Lightning System (LN): we can finally say it’s going live! It already has more than 1500 nodes connected inside the testnet and individuals have already been producing real transactions despite the warnings (I love these types of folk. They’re the real deal). A current announcement emerged this week stating this will finally move on to the first mainnet.



https://explorer.acinq.co/#/

Right now Lightning Labs, the company behind the initial development, is usually moving towards the production atmosphere, meaning, you will have the choice to use off-chain transaction channels to do dealings. Anyone can setup a lighting node, which will re-route payments to nodes, and get paid to achieve that. Or even you can simply begin using it as a final consumer, who wishes to send money to one more peer, or maybe create a payment to some company; you can count on escrow payments to become immediately implemented and utilized. Fees paid will reduce exponentially as miners will only register and confirm final balances through the off-chain channels onto the blockchain.

I can’t wait for this particular to go Live, I’m so excited!



But in case you think great technology developments stop on bitcoin and the blockchain, oh boy you’re well-off!

Additional projects have surfaced and past ICOs are starting to bear some of the particular fruits. I am going to mention the four I consider top contenders to get massively used (I might be massively wrong, please beware):

1. Ethereum: Obviously the most famous project simply after bitcoin and for a good reason. Not just is entering into PoS (although PoW will remain working) with its latest close-to-be Casper upgrade which is already being tested.

Tags:
cryptocurrency price(17), cryptocurrency(18), cryptocurrency(18)

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