After a year of explosive price growth, Fork or Fialed Fork and more, and are the terms that have been talked about Bitcoin over the years. Great strides have been made, and much has been learned. However, as we step deeper into the uncharted waters, what happens from this point forward continues to be a forever subdivided topic.

There is a simple question that rests on both parts of this year’s playbook and future uncertainty: Can Bitcoin go further as it continues to be mainstream, or will it become a disaster? after its own success, with cryptocurrencies taking turns waiting for their chance to pass?

Of course, no one can honestly answer this question with complete certainty. Predicting the future is a messy business, because the future is constantly changing. It is not and cannot be fixed or predetermined. Instead, the future is being shaped and created right before our eyes by those who are not satisfied with the present.

So, as we reflect on a spectacular year and ponder possible challenges in the future, you should pay special attention to the absurd people working creatively.

Bitcoin Scaling

At the beginning of November, one of the longest and recognized technical conferences in the Blockchain industry held a 2017 conference in collaboration with Stanford University titled: Scaling Bitcoin. Bitcoin model).

By the fourth, Scaling Bitcoin has attracted scientists, developers, and entrepreneurs from across the Blockchain system, many of whom have been working on ideas and developing Cryptocurrency for years. With this extensive and long experience comes a perspective and priorities that should not be overlooked.

For those looking for the future of Cryptocurrency and wondering what’s stopping us from getting there, the answer is that there’s no better place to start.

Immediately. CoinDesk Editor-in-Chief Peter Rizzo’s reputation despite the rare concentration of industry veterans the discussion largely ignores the dramatic latest controversies that dominate the news cycle. news about Cryptocurrency.

While the conference remained on track with presentations focused on Bitcoin Core optimization and 2nd round proposals, controversial topics about Fork and Block Size were rarely mentioned during the process. conference. Attendees expressed great concern about seemingly controversial issues like the Segwt2X Fork, and most attendees, myself included, believed it would be clinically dead.

A belief and attitude was quickly confirmed when 2X was canceled a week after the conclusion of the conference.

As a result, and regardless of the consequences, Bitcoin will not increase its base Block Size. Vision incompatible with a much larger Block Size limit for Bitcoin will transform itself only in the Bitcoin Cash Blockchain right now. This has led to many predictions that Bitcoin Cash and other alternative cryptocurrencies will overtake Bitcoin as its Block Size limit becomes deadlocked when applied.

With only a few notable exceptions, most Scaling Bitcoin attendees don’t see this as a concern. However, that doesn’t mean the attendees didn’t talk about any technological challenges. If the extended topic of discussion does not have any indication. But somehow, all the participants agreed on a single, broader, and more fundamental concern for expanding this fledgling system: the limited availability of quality development talent. quantity.

As developer and attendee Jimmy Song made it clear

It is very relevant that besides Stanford’s position, also unique to this year’s Scaling Bitcoin is a new attempt by the organizers to directly address this issue.

Bitcoin Edge Dev++

The Dev++ Workshop has been set up by Bitcoin Scaling organizers with the sole mission of training and helping aspiring Blockchain developers, and they have done this with young star power. .

For the Dev+ program inaugural, dozens of participants contributed presentations and guided demonstrations from well-known names from across industries. Including Jimmy Song, Bitcoin Core collaborator John Newberry, Thaddeus Dryja of MIT, and many others.

This group of technical experts conducted a cash course covering everything from bitcoin fundamentals to the theory and implementation of second layer networks. The following describes a live and interactive demonstration of the Lighting Network software on a test computer by Dryja himself, co-author of the original Whitepaper.

Perhaps most striking, however, were Dev++’s performances, which was one comment by Dryja that surprised some attentive students, and told them all there was to know about the necessity. of the event from the outset.

Perhaps most striking, however, were Dev++’s performances, which was one comment by Dryja that surprised some attentive students, and told them all there was to know about the necessity. of the event from the outset.

Time and talent

Given the critical importance of layer two development in the ongoing scaling debate, the fact that there are only 10 full-time developers working on the Lightning Network is a powerful wake-up call for the Lightning Network. many people. But the problem of the unmet need for development talent in the Cryptocurrency system is even deeper.

Conferences like Scaling Bitcoin are marked by constant lineups of introductions to the latest areas of research and development. It is common and tempting to leave the enthusiasm involved in so many of the peak innovations of perception. However, many people know better. Those in the industry the longest know how to keep their expectations in check, but it’s those with experience in software development, especially those who are directly involved in the development, that progress is often much slower and more tedious. whoever. Holding Segwit, despite extensive support from the open source developer community, it took three years to implement and activate the Bitcoin Blockchain after its initial proposal.

For those with some coding experience this should not come as a shock. When it comes to any degree of programming ideas is easy the implementation of it is very difficult. Building even the most seemingly simple programs or features always hides complications and side problems that must be discussed and resolved meticulously. So when building anything in the unprecedented system of security-critical and distributed financial software, this tedious reality is multiplied by orders of magnitude.

As if this didn’t complicate the process moving forward, there’s still another problem facing developers: deciding what to do to try to improve first.

Cryptocurrency and Blockchain is a growing field on a large scale. With these broad unknowns comes the possibility of constant ups and downs, but also without ceaseless disagreement.

When it comes to Bitcoin scaling, there are many competing ideas to be discovered at any given time, many of which attract the attention of the public.

they. What is rarely noticed by the public, however, is that most of these ideas are pushed back to more promising endeavors or forgotten altogether.

Although this may seem problematic at first, it is a necessary and demanding corollary of the exploration of unknown boundaries. Sometimes it’s obvious whether an idea may or may not work, but many times it doesn’t.

This energy leads to many debates regarding not only what technology can do, but what needs to be done, and industry efforts must be most focused when modeling threats. different are considered.

The result of all of this is that it is impossible to find any comparable evaluation of the idea proposal from any developer in the industry, let alone any additional consensus on the efforts Researching and trying to implement is the most worthwhile. Extensive testing and debugging is the only option for us to ultimately decide what to do and what not to do. Of course this requires more development level.

A difficult road

This is exactly what Dev++ and other programs like Chaincode’s all-powerful program and Jimmy Song’s Blockchain programmer try to solve. But while these efforts are gradually developing convenient educational tools, resources, and courses, becoming a Blockchain developer is a long and difficult road with many challenges.

However, it is largely psychological.

For aspiring Blockchain developers, it is easy to be intimidated by the steep learning curve that life teaches us. As an alumnus and next teaching assistant at Ironhack Fullstack Bootcamp, I know that intimidation is the biggest barrier for any student looking to learn to develop software.

On the contrary, those feelings can even be enhanced by the depth of understanding by faculty such as those at Dev++, and the perceived hopelessness along with the students’ level of proficiency. It may even be reinforced by some by the perceived attitude of Bitcoin Core contributors that come with well-known repositories and all-important fair moderation.

Securing the future

As we move into 2018, all the attention will be focused on the interesting and visible.

Price movement and industry drama will dominate headlines and mainstream attention as they always have and will be the catalyst for many clicks, tweets and comments.

But the real and underrated story has always been the clumsy guys, not just Bitcoin Core or Lightning Network contributors. Those outside of the limelight struggling with esoteric issues are also important.

They are people who, despite overcoming barriers and unobtrusively, are struggling to slowly change the state of the world and create a better world. It is these people who make great and seemingly unimportant advances that, when put together, drive a system forward.

Regardless of how it develops, 2018 is not a one-off year for Bitcoin or Cryptocurrency in general.

The most important and fundamental work is to have time and profits far beyond next year. These efforts focus not only on the play, PR stunt or even the technology itself, but also on the people who are and will develop it.

Similar Posts

Leave a Reply

Your email address will not be published.