Topic: Bitcoin 2.0 but how? (Read 1172 times)
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I dont understand, why Ethereum, Maidsafe etc. are building there own Blockchain. If I understand it correct: A Blockchain is only secure as there are miners which are securing the Network. Bitcoin has currently roundabout 330 petahash power. As a consumer I would prefer to store my data on the Bitcoin Blockchain as on Ethereum or Maidsafe or do I get it wrong?
Thanks for an answer
Thanks for an answer
Once Bitshares, Maidsafe, Ethereum and Supernet are up and running 'established' there will be no looking back. Can't wait to see what this year has in store, but...
While I agree that different Bitcoin 2.0 project should compete on a feature level, I think that competing about resources slows evolution down. If every project requires its own resource supported blockchain then each individual blockchain becomes weaker against attacks, like it happened a few times in the past.
There needs to be a common blockchain, built by aggregating all the resources, that serves as a platform on which to build new innovative projects. Otherwise requiring every project to come up with the necessary resources to launch is a major roadblock and is wasteful with respect to resources.
While I agree that different Bitcoin 2.0 project should compete on a feature level, I think that competing about resources slows evolution down. If every project requires its own resource supported blockchain then each individual blockchain becomes weaker against attacks, like it happened a few times in the past.
There needs to be a common blockchain, built by aggregating all the resources, that serves as a platform on which to build new innovative projects. Otherwise requiring every project to come up with the necessary resources to launch is a major roadblock and is wasteful with respect to resources.
There is certainly an advantage to having a shared ledger with common network effect.
The question is when to standardize? Innovation is very rapid right now. Standardization tends to inhibit innovation.
What if the design of all life forms had been standardized on the architecture of the trilobite?
So we are in a Darwinian period where eventually a standard will emerge because most people find it most cost effective.
I would not expect any existing life form to become the ultimate Homo Cryptosapian solution.
In the meantime - grab popcorn, sit back and watch a modern repeat of the Cambrian Explosion.
Once Bitshares, Maidsafe, Ethereum and Supernet are up and running 'established' there will be no looking back. Can't wait to see what this year has in store, but...
While I agree that different Bitcoin 2.0 project should compete on a feature level, I think that competing about resources slows evolution down. If every project requires its own resource supported blockchain then each individual blockchain becomes weaker against attacks, like it happened a few times in the past.
There needs to be a common blockchain, built by aggregating all the resources, that serves as a platform on which to build new innovative projects. Otherwise requiring every project to come up with the necessary resources to launch is a major roadblock and is wasteful with respect to resources.
While I agree that different Bitcoin 2.0 project should compete on a feature level, I think that competing about resources slows evolution down. If every project requires its own resource supported blockchain then each individual blockchain becomes weaker against attacks, like it happened a few times in the past.
There needs to be a common blockchain, built by aggregating all the resources, that serves as a platform on which to build new innovative projects. Otherwise requiring every project to come up with the necessary resources to launch is a major roadblock and is wasteful with respect to resources.
Yes the current meta for design is that the currency tokens itself funds the contracts, providing a self fueling ecosystem.
I wonder if this will be leveraged to create an inflation based economy.
Also keep in mind, everything is growing and changing rapidly. It is all still in its adolescence. All it takes is one solid whitepaper which seems to come out every three to six months that opens drastic new possibilities for solutions. Things start abstracting from other ideas, new concepts are introduced by new projects -- It's hard to say where Bitcoin itself will be in a few years as far as contract and scripting potential, and how much of this will be facilitated by other layers. Asset Systems, "Colored Coins", Sidechains, parallel AltCoins, projects like Ethereum, Bitshares, various dApp platforms -- all influencing eachother and the ecosystem...
But to at least partially answer your question, yes the current meta for design is that the currency tokens itself funds the contracts, providing a self fueling ecosystem.
But to at least partially answer your question, yes the current meta for design is that the currency tokens itself funds the contracts, providing a self fueling ecosystem.
Do you know how tiny the amount has to be or does it depend on the data which is going to be stored?
As I know you need enough bitcoins to pay fee for transaction. Fee for transaction depends on size of tx.For example here https://www.blockscan.com/txInfo/11657885 for counterparty transactions paid 0.0001BTC(other coins were sent back to sender and to the dice site). And the txout with payload hasn't any bitcoins (as you can see here https://blockchain.info/tx/fba27f6fc5beba5bf21fcbe533c69d18eafbdb7ccf0234fd9d0da8757f75aba2)
Do you know how tiny the amount has to be or does it depend on the data which is going to be stored?
Hi all,
I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
Omni system uses a tiny amount of bitcoin for its transactions. So you do need a little bit. But the amount can be very small indeed.I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
CounterParty is similar
Etherium uses their own blockchain - you don't need any bitcoin.
Doesn't Ripple (XRP) provide this feature as well?
Hi all,
I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
Omni system uses a tiny amount of bitcoin for its transactions. So you do need a little bit. But the amount can be very small indeed.I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
CounterParty is similar
Etherium uses their own blockchain - you don't need any bitcoin.
Hi all,
I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
I have a question regarding the Bitcoin 2.0 idea like smart contracts, digital rights etc.
How is this going to work? If I understood it right, it is possible over the code "OP-Return" to implement additional data. My question now: If someone is going to exchange or store smart contracts does he has to own Bitcoins or to pay with Bitcoins?
I hope you understand my question otherwise just ask and I try to be more precise.
Thank you very much for an answer
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