“Master” of the author: Antonopoulos bitcoin bitcoin and how to make our bank as strong
In development of computer scientists and distributed expert system AndreasAntonopoulos, in early 2012 for the first time to understand bitcoin. Although he had several times missed bitcoin, but once he studied bitcoin, he said, “I suddenly found that this is not only a kind of currency”. He quickly stopped his work and began to devote to the bitcoin field.
“Master” bitcoin author Antonopoulos, who is also a Let ‘sTalkBitcoin podcast host, and the resident spokesman Technology Conference digital currency bitcoin, he explained the reason and underlying technology subversive in the latest Podcast (Podcast: Unchained, the main exploration block chain and financial technology. To search the podcast the player GooglePlay, and TuneInRadio), iTunes Stitcher.
The concept of “bitcoin currency and the Internet, creating a new model of payment network has swept the world, this mode of payment without borders, and the Internet, can let you run by software control of financial applications, rather than controlled by certain mathematical rules of political rule of the.”
He said that the network can make all applications handle a few cents this low turnover, or hundreds of millions of dollars in such high transaction, which is impossible in the traditional financial system.
We are full of fun in the conversation, he explains the reason:
Bitcoin doesn’t care if you’re a person, a software or an automatic dog bowl.”
At the same time, he further describes the operation mode of the future taxi and disaster relief assistance.
He described the bitcoin technology will make everyone, including billions of non bank account users and not fully enjoy the bank service users, to enjoy the “power of the current bank users the same, not only access to bank accounts, but you can enjoy all the services of financial institutions to trading in the world in a very short period of time. – 24 hours round 365 days, does not limit the type of currency.”
If you ever want to know how to operate specific block chain technology is Antonopoulos, in-depth understanding of the bitcoin can make the system to become more powerful. He said:
Bitcoin is not the traditional sense of the currency, it is a very powerful system to the center, can coordinate a lot of information resources, solve the problem of Byzantine fault tolerance. This is a computer science or a distributed system, its principle is that, when the system you have to coordinate all the Internet or any network, you don’t need to know the system is really false, whether we should trust the system, your information is encrypted, the real problem is that you try to coordinate resources when perform actions or agree on the state of the system.”
He explained the solution (Nakamoto consensus and proof of work mechanism) technical breakthrough behind how it works, what is the block chain, refuted the bitcoin network criticism is a waste of energy.
This week we recorded episodes of the world’s second largest bitcoin exchange attacks – related Bitfinex lost about 120 thousand bitcoins, was worth about $78 million. But Antonopoulos explained that this does not mean that bitcoin is not safe, safety is the center of the system. Since bitcoin software can be downloaded to a personal computer or mobile phone, if people do not put bitcoin save to the third party, so if you want to attack one million bitcoin account, you must be 1 million computer intrusion.”
He noticed that now bitcoin fields like 1990 or 1992 DAO (Internet, due to the center of the autonomous organization, raised $150 million Ethernet stolen coins, but $50 million) incident to intelligence and jade reputation suffered serious blow.
“Smart contracts and one year old baby as mature, because this is a one year old baby, in contrast, bitcoin is like a toddler, although bitcoin technology is only a baby walker, but its growth does not require hundreds of years — may only need ten years or 20 years. In 10 or 20 years, bitcoin technology can achieve the level of maturity, all institutions as we now see, low cost, high-speed trading, this is the real revolution.”
You can listen to the full Podcast in GooglePlay, iTunes, Stitcher, TuneInRadio and web, Antonopoulos will explain why he believed that in 100 years, recorded in stone on the word will be recorded in the block chain (that block chain and stone can be long-term preservation of information), bitcoin will save much time than telegraphic transfer remittance and why, he used to bank account transfer fee of 20%, while bitcoin payment without reason to pay the expenses.
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