Quote from: Jating on March 17, 2018, 11:57:31 PM

Quote from: Hektur on March 17, 2018, 07:24:51 PM

Hi guys, have you ever thought about blockchain? If it is really revolutionary technology? I am reading many pessimistic opinions and articles, that it is not good technology. For example speed and massive adoption, we see this problem in Bitcoin blockchain and the transactions on blockchain, because it is the oldest one and there are the biggest number of transaction stored in blockchain, will this happen to every altcoins in the future? Will the Lightining network solve this problem? Why the Lightning network is not fully released - thanks to the miners - they want bigger rewards or? And what about mining - what will happen if we invent a quantum computer? Could we really trust in decentralized anonymous transactions in today's world?

Looking for your replies.

It looks like you have 2 sets of question. As far as LN goes, I suggest you read its whitepaper.

https://lightning.network/lightning-network-paper.pdf

As for blockchain, yes its a new technology that has a lot of uses not only bitcoin but other industries as well, specially in the banking industry. Ironic though that banks keeps on attacking bitcoin, but adopting the underlying technology behind it.

Blockchain can record all transactions, and its very difficult to alter the data, unlike data which a database admin can make updates on the records. So that's one big advantage of bitcoin. Another that I'm seeing is that it can really reduced the cost of transaction and data can be used immediately. Imagine a one bank and it needed another information from another branch. And through this technology the one needing the data can get it immediately by just looking at the records in the blockchain.

It is okay, but look on Bitcoin blockchain and how many computers/mining rigs are working to make transaction smooth, I know that if blockchain has less miners, there will be lower difficulty, but when we see mass adoption - blockchain can´t store every transaction, or could? I don´t know if I am wrong, please correct me, if yes. It is proof of stake better? I read that with proof of stake there is bigger possibility to shut down the network with hacker attacks or? Sorry, I am not expert, but I would like to learn more about it Wink

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