Dubai blockchain channel 29th of july (4)
0 likes85 views
The document discusses the evolution of the internet and blockchain technology, highlighting the transition from proof of work to proof of stake consensus mechanisms. It emphasizes the real-world applications of blockchain and the predicted impact on the global GDP by 2025. Additionally, it analyzes recent trends in Bitcoin dominance and ETF developments, suggesting a potential upcoming bull run in the cryptocurrency market.
Dubai blockchain channel 29th of july (4)
- 1. Dubai Blockchain Channel 29th of July True Advantage Consulting Pekka Kelkka, CEO, CBO, CDO, OWNER
- 2. Welcome existing and future Blockchainers Who do we have in the house today - how long you’ve been on Blockchain? ● Just starting ● Less than a year ● 1-2 years ● 2-3 years ● 3-5 years ● 5-9 years ● Longer? 31st of Oct 2008….
- 3. Early days of internet ● ARPANET started late 1960 ○ Funded by the U.S. Department of Defense ● ARPANET adopted TCP/IP Jan the 1st 1983 ○ TCP/IP (Transmission Control Protocol/Internet Protocol = communication protocol) ○ The start of Internet “The network of networks” ● Tim Berners-Lee invented the World Wide Web 1990 ● Websites and hyperlinks
- 4. The launch of the commercial internet
- 5. The launch of the commercial internet ● Mosaic 10th of November 1993 ● Netscape 15th December 1994 (Then Mosaic Netscape) ● Opera 10th of April 1995 ○ https://news.bitcoin.com/opera-browser-introduces-a-built-in-cryptocurrency-wallet/ ● M$ Explorer 16th of August 1995 ○ Bill Gates: M$ is not believing in internet after Netscape started to generate buzz ● Mozilla Firefox 22nd of September 2002 ● Safari 7th of January 2003 ● Google Chrome 2nd of September 2008 ○ Google search 15th of September 1997
- 6. Similarities of early internet and Blockchain today ● It’s useless /nobody or no company will have no benefit using it ● Soon will be gone with wind ● Against Internet: ○ We have our PCs that’s enough ● Against Blockchain ○ We have our internet web page that’s enough ● How the internet skeptics were beaten? ○ Showed the real value of Internet ● How the Blockchain skeptics will be beaten? ○ To show the real value of Blockchain
- 7. About the amazing tens of real working successful Blockchain projects ● Real World Blockchain Use Cases – 46 Blockchain DApps ○ https://101blockchains.com/blockchain-applications/ ● World Economic Forum has predicted that by 2025, 10% of the GDP will be affected or stored in the blockchain ○ https://www.weforum.org/whitepapers/realizing-the-potential-of-blockchain ● World Bank's estimate: 2018 Global GDP $74.1 trillion ○ https://foreignpolicy.com/2017/02/24/infographic-heres-how-the-global-gdp-is-divvied-up/ ○ USA 24% ○ China 15% ○ Japan 6% ○ Germany 4,5% ○ UK 3,5% ○ France 3%
- 8. From the Proof of Work to the Proof of Stake ● What is your “Proof of Work?” ● What is your “Proof of Stake?”
- 9. From the Proof of Work to the Proof of Stake ● From the Proof of Work to the Proof of Stake - is it a fair game? ● Proof of Work ○ 1993 to fight the spam - on emails! ○ Formally called PoW 1997 ○ Uses a lot of energy due to PoW algorithm ○ PoW= To reach the consensus on Blockchain network to many nodes on the network to secure the Blockchain ○ PoW algorithm works by having all nodes solve a cryptographic “puzzle” ○ The first miner (node) to solve “the puzzle” gest rewarded by coin/token ○ The more mining power you’ll have the more rewards you’ll get ○ Result: Huge mining farms and mining pools to control the mining market ○ Centralized instead of decentralized ○ Also “fake mining” on mining pools
- 10. From the Proof of Work to the Proof of Stake ● From the Proof of Work to the Proof of Stake - is it a fair game? ● Proof of Stake ○ 2011 introduced on Bitcointalk forum ○ PoS has an election process to randomly choose to validate the next block ○ No mining /Miners - PoS has Validators who will mint or forge new block ○ No mining = much less electricity consumption ○ To become a Validator you must deposit certain amount of coins to the network as STAKE. ○ The ones deposit more coins to the network will become Validators ○ If Validator “miss behaves” he/she gets penalty that will be bigger than deposited coins
- 11. Are there alternative solutions? ● Proof of Burn ○ Every time you burn coins, you buy a virtual mining rig that gives you the power to mine blocks. The more coins you burn, the bigger virtual mining rig gets. ○ http://slimco.in/ ● Proof of Capacity ○ To do all the work upfront and store it to hard disk ○ Saves a lot of energy ○ https://www.burst-coin.org/ (the Linux of Blockchain) ● Coin Hours by Skycoin/Skywire ○ To share your computing and network capacity to earn coins. ○ Replaces mining ○ https://www.skycoin.net/
- 12. Playing Crypto Card Game ● Are these pieces of plastic the future of Cryptos? ● https://cryptopay.me/ ● https://bitpay.com/ ● https://janus.xapo.com/ ● https://www.tenx.tech/ ● https://www.revolut.com ● Mastercard ○ The new patent application includes a new form of a public blockchain-based method for linking assets between blockchain and fiat currency accounts. ○ https://cointelegraph.com/news/mastercard-files-patent-for-payment-system-linking-blockch ain-currency-fiat-accounts
- 13. Countdown to the biggest Cryptos' Bullrun started... or not? ● 26th of July 2018 - US Securities and Exchange Commission (SEC) denied the application for a Bitcoin ETF. ● SEC commissioner Hester M. Pierce was against the SEC’s decision ○ https://bitcoinist.com/sec-commissioner-disagrees-winklevoss-bitcoin-etf/ ● It’s not if - it’s when BTC will go ETF! ○ https://www.marketwatch.com/story/sec-rule-on-direxion-bitcoin-etfs-expected-this-fall-2018- 07-28-13462129
- 14. Countdown to the biggest Cryptos' Bull Run started... or not? ● Total Market Cap 29th of July $300 Billion ● Bitcoin dominance grows ○ BTC dominance 48% 29th of July (was 3 weeks ago 34%) ● If BTC will get ETF soon dominance will skyrocket ○ Capital moves to BTC not just from Altcoins but also from other markets ○ If BTC ETF decision will take longer time we can have still short but sharp bear market ● Wall Street Traded $572 Million in Bitcoin Futures on one day! ● Short term Altcoins will stay flat ● Next Bull Run possible still before the end of the year ○ Positive news keep coming from many sectors
- 15. Thank you, sukhran, 谢谢, kiitos BLOCKCHAIN BUSINESS CONSULTANCY l DIGITAL MARKETING True Advantage Consulting -TAC LTD. www.trueadvantageconsulting.com Pekka Kelkka,CEO,CBO, CDO, Owner pekka@trueadvantageconsulting.com +971553377207 / Skype ID pkelkka https://www.linkedin.com/in/pekkakelkka/ https://steemit.com/@pekkakelkka