Pages:
Author

Topic: What's the Future of Bitcoin without the Inventor? - page 4. (Read 502 times)

sr. member
Activity: 784
Merit: 306
Hire Bitcointalk Camp. Manager @ r7promotions.com
Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

It is basically decentralization and the open source network it works on. Bitcoin was built on open source, which allows the network to stay decentralised, making it difficult for a single body to control the network. There is no exception to this, even Bitcoin's inventor does not have the authority to regulate or change anything without the participation of other users on the network (the miners).

The open source model allows everyone to contribute to the network, which improves its adaptability and functionality.  On the network (blockchain), anyone may view, analyse, and audit. Bitcoin is based on the technologies of blockchain, which evolved from public blockchains.

The use of public blockchains helps to address some of the issues associated with security weaknesses, third parties, and centralization. With or without the inventor, it will continue to function the way it is now.
member
Activity: 98
Merit: 29
I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?
Pages:
Jump to: