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I think that is going to be the 2nd generation of cryptocurrencies. Currently we are at the 0th generation which is just a proof of concept. The 1st generatio
by lumberjack 9y ago
I think that is going to be the 2nd generation of cryptocurrencies.
Currently we are at the 0th generation which is just a proof of concept.
The 1st generation will be cryptocurrencies which have figured out the consensus problem entirely.
The 2nd generation will be cryptocurrencies with more advanced built in economics that actually give incentive to users to use them as a currency and put an end to rampant speculation and hoarding.
- pedrocr 9y ago>The 1st generation will be cryptocurrencies which have figured out the consensus problem entirely. What do you mean by this?
- lumberjack 9y agoPeople have been trying for 6 years to go past proof of work. It's not really ideal. There are also problems with mining capacity concentration. There's still work to be done in that area. Looking forward to see how proof of stake plays out.
- loceng 9y agoBitcoin and Ethereum's Ether, nor are any of their holders, incentivized to evolve to a generation where they lose the value they've gained or bought into with real USD. Not sure how that plays out to the results you suggest.
- 52-6F-62 9y agoThis is a great question, but I kind of agree (though my thoughts need much more refinement yet) with the original comment poster here. I've been following the subject for a while, and many people in those communities tend to expect new tech to supplant the existing ones in time. Maybe not now, but in a decade or few. Besides, even the holders are a little more nimble that it appears. Some are keen, some just pump because they envision it a quick buck. Adding to that, it's quite possible for these named techs to evolve through community suggestions, code, and consensus (even if it does get messy surrounding each fork).