Edward Snowden: bitcoin is so successful

Snowden (Edward Snowden) a few days ago to accept this? Wuerzner (Ben Wizner) interview. In the letter, he talked about encryption currency and block chain technology benefits, in fact, these bitcoin social change mode of operation of the potential is very enthusiastic.

Snowden in the interview began explaining the block chain basically is a “new database”, where the user can not change the data on writing “”.

“Look, the reality is the block chain can be applied to many aspects in theory, but it is important to understand this, we are talking about a very, very simple concept, so these applications are a variant of the theme based on verifiable.”

Imagine, in today’s world, important data are usually held exclusively by GenericCorp LLC, and the company can and does is in the public interest at the expense of playing these data, but it has 100 jurisdictions in 1000 places. It has no closing mechanism or other “let us do evil” button, the button to create a global consensus, in general, at least 51% of Internet users support the change rules.

It is not perfect, but to get the job done The most important features of the consensus mechanism, Snowden believes that both the PoW and PoS are not perfect. Each has its advantages and disadvantages; however, he claimed that, although from a different point of view to solve this problem, but the two companies have completed their mission, and provide security for the network. In the interpretation of PoW features as a consensus mechanism bitcoin blockchain when Snowden suggested that this popular encryption currency may exceed their expectations in the cong:

All of these defects is brilliant, bitcoin fails to explain why become so successful. Win a round return, was worth only a few cents, now it is about $100 thousand, which makes people to transfer large amounts of energy and full of computer equipment and data center to mathematics or “mining” competition, is economically reasonable. Calculation of the size of city Godzilla was put into this race, make it difficult to understand.

At the end of the interview, he used to future cipher and block chain technology optimistic.

Translation: Kunming plus

Source: ethereumworldnews

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