Topic: How Will Blockchain Evolve Over The Next 5 Years ? (Read 921 times)

I'm still looking forward to see one such non-cryptocurrency blockchain in action, so far most other use cases have only been a mediocre fit.




You can't prevent people from investing in bad ideas without heavy regulation -- which would be against pretty much everything that crypto stands for. Actually, you can't prevent people from investing in bad ideas even with heavy regulation. I'm looking at you, Wall Street.

Either way I'd still argue that mass adoption won't necessarily bring more speculators into the game. Most people that we still need to reach just want a safe and easy way to transfer money. Or at least a store of value. Not a speculative investment vehicle. Those people have been onboard for a long time now.

Cryptocurrencies is only one way to use blockchain technology there is so much growth and other ways that it can be implemented so the growth will be huge in the next 5 years

I'm not ok :/
As mass adoption means fools adoption...
If you fuck the fools, you loose mass adoption.
I understand that we are far away from reverting mass adoption because of fews forks and shitty ICOs but I'm saying that the more we fool the fools, the less mass adoption will happen, and mass adoption is what we all want I suppose... :/

Let fools be fools and simply don't buy into it. Every subsequent money grab will be worth less than the one before until the forkings subside and pump'n'dumpers find a new toy to play with.

I wish they would stop forking BTC 4 times a month... This model is more and more like a ponzi where rich get richier and stupid poor buy shit from them because of their ignorance... This is sad and it will lead no where imo. I love Blockchain and I believe in the tech, really, but we should find some way to avoid abusive behavior only here to scam ignorants :/ Some ICOs are in the same bag here. Aren't you scared about this ?

If the Bitcoin Blockchain fails, most other technologies connected to it will also fail. Most Alt coins use the same concept, so they will also fail and some of these private networks are built on top of the same model, so they will also fail. It is very important that the Bitcoin experiment succeeds for all of these other technologies to also thrive.

There will always be better variants than Bitcoin, because that is the nature of this experiment. The main thing is for the original concept to succeed. If it fails, people will lose trust in the technology as a whole. ^hmmmmm^

This is one of the key questions .
This is where it is important to remind that blockchain is a foundation technology much more than it is disruptive technology that will give you a quick competitive advantage

Blockchain has today great intrinsic qualities like the ability to create trust among untrusted peers and the ability to secure integrity of transactions, but it has also many limitations and barriers to cross.

Scalability issues due to the consensus algorithms being adopted, cost of transactions as the system grows, or even barriers related to organizations not used to collaborate, or legislation and regulation not being able to cope with disputes, recovering from glitches or bugs. These are all big question and this is why it will take time until blockchain becomes ubiquitous to our economy.

Over the next five years I believe we will see more fragmentation in technology and approaches. We will see quick adoption in closed eco-systems. We will see many pilots and experiments, a lot of startups failing because they not succeed in building eco-systems and a few technology players emerging as the technology matures.

There will be plenty of challenges for Blockchain like adaptability, scalability, acceptance, legislation and regulations. Moreover another technology like quantum will pose threat for its expansion.

If Bitcoin flops in the mid of five years, it'll be setback for Blockchain acceptance. Overall, it'll be experimented in the closed groups. Few collaboration opportunities will arise especially in the banking sector or logistics and transportation .

Blockchains, if not attached to a decentralized token, don't interest me, and I don't see how they can interest anyone in this forum to be honest. Without a cryptocurrency, blockchains become MySQL databases.

Im interested in seeing improvements on the current damocle's sword of Bitcoin: PoW.

Thus far, all other alternatives have fallen short. PoS and so on don't cut it. Ideas like the tangle with IOTA and Byteball with DAG are good ideas but not really a replacement for PoW.

Right now, blockchain technology is not very useful and practical for most applications. If we focus focus on Bitcoin’s best and worst features we can predict how it will evolve for the further years. Currently the Bitcoin blockchain takes several minutes to confirm a single transaction. Compare this to your transactions on your mobile phone using, say, ApplePay transactions are nearly instantaneous. So any application requiring high volume and quick confirmation times is not a great application to be put on the Bitcoin blockchain for the near future. Whether this will change within 5 years is a guess.