Fantastic 4 of Blockchain

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Some people say that we are unlucky to be born in this time. It seems like the middle of the development process. It’s too late to discover new places and territories and It’s too early to explore the Cosmos. I think it’s the perfect time to explore the new possibilities given to us by great minds in the Blockchain and Crypto sphere.

We are living in the time when everything undergoes through some changes. We are about to change our financial systems, our voting systems, supply chain management, KYC storage principles and lots of different spheres where new technological solutions can be successfully implemented. We are truly stepping into a new era and we can safely say that we are not in the middle of something. We are lucky to be born today because we get to see the beginnings of Blockchain and Cryptocurrency.

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What to Expect from Mining Crypto 2018

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AISC vs CPU vs GPU – Battle for Bitcoins

The first time Bitcoin was Introduced, we were simply careless. We were alarmed by its’ complexity and innovation. People thought Bitcoin would be just a flight of fancy. Bitcoin is all over the news and all over our minds, but until this day people tend to avoid it. People avoid engaging in Bitcoin Economy because of their insufficient knowledge of this field and the current market downtrend.

Day by day, the interest in Cryptocurrency is rising. Everyone knows something about Bitcoin, altcoins, Blockchain, mining operations and so on. The terminology is widespread and theoretical knowledge is growing its’ borderlines.

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Blockchain Discovers Georgia

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Typically, when you think about mining Bitcoin, you think about all the mining farms in China or Iceland. You imagine to yourself the most crypto friendly countries like China or South Korea.  As surprising as it might be, Georgia is ranked number two of the most profitable crypto mining areas in the world.

 

Georgia has been popular among Russian, Ukrainian and even Chinese tourists for its wonderful wine, scenery, history, old castles, and attractions. But these several years, the occupation of arriving foreigners hasn’t only been wine tasting. Georgia has blossomed into the attraction of entrepreneurs, who are looking to profit from low electricity fees, great environment and encouraging crypto regulations. But besides mining bitcoin, Georgia has a big potential of becoming one of the crypto friendliest countries in the world with development in Blockchain field.

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Blockchain and Bitcoin conference Georgia

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Companies all over the world are engaging in educational events about Blockchain. Knowledge and awareness of Bitcoin and other Cryptocurrencies is spreading all over the world. Conferences like “Blockchain futurist Conference” August 15-16, 2018, “World Blockchain Technology Forum” June 22-24, 2018 and many others are being held in 2018 to spread the awareness, share the ideas, consult each other and find inspiration through other projects. Project managers, software Engineers and Blockchain developers from all over the world are sharing their experiences, talking publicly about their innovative projects and new uses of Blockchain in Business, government, healthcare, etc.

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Smart VS Dump networks

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Bitcoin is a network. It is also a currency and a technology. It’s all these things, you can’t separate them. You can’t just build a blockchain without a valuable currency behind it and currency doesn’t work without the network either.

The Networks

Bitcoin is a dumb network. It really doesn’t do much. It processes transactions. It’s a dumb network for verifying a very simple scripting language. Bitcoin network doesn’t offer any other services. The network doesn’t have automation or any other feature built in. However, this dumb network supports very smart devices.

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Money as a Content Type

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Bitcoin has introduced a fundamental change in how money is going to be seen in the future. It made money independent from the underlying transport medium. A lot of people think that a Bitcoin transaction has to be transmitted through a Bitcoin network. That’s not true. A Bitcoin transaction has to reach miners and be included in a block of the blockchain. Bitcoin transactions can be transmitted over any form of communication medium.  

It’s worth noting that Bitcoin transaction doesn’t incorporate security mechanisms itself. Instead, the proof of work is provided by the miners and the digital signatures are the security.

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Bitcoin Design

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Even though everybody is talking about Bitcoin nowadays, barely anyone can convincingly answer a question: What is Bitcoin? We’re still learning and still finding new meanings of it. This is because this technology is really new, it’s disruptive, but it’s also an abstraction on a technology that is extremely old – Money.

Just another Abstraction of Money

Bitcoin is the latest abstraction of money. We’ve done abstraction before, but every time we do abstraction of money, society freaks out, thinking that this new thing can’t possibly be real money. The same thing happened when coins were stamped on non-precious metals. People thought that some mere metal could not represent value,  but it eventually did. Paper money was met with even more skepticism. Imagine the change – for thousands of years people used hard precious or non-precious metal for communicating value and suddenly, paper with people’s faces on it is the most valuable thing.

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