Hello

[BTCXE]

Hi All,

My name is Gleb and I'm just beginning to get into the world of bitcoin. My interest are Technology and Marketing, and I'm really curious about the impact blockchain tech will have on the future of the world. It would seen to me blockchain tech has a chacne to revolutionize the world just like the internet did 20 years ago.

Hi and feel free to message me with interesting info, offers

Gleb

[secco]

My name is Gleb and I'm just beginning to get into the world of bitcoin. My interest are Technology and Marketing, and I'm really curious about the impact blockchain tech will have on the future of the world. It would seen to me blockchain tech has a chacne to revolutionize the world just like the internet did 20 years ago.

Hello Gleb. Welcome on board! I agree with you, the blockchain technology has the potential to really change a lot of things. Beside the monetary aspects which benefits are well know, I see a lot of potential applications that can bring us a better democracy/transparency. Imagine, for example, when private companies have to send secret offers for a public tenders. How nice it would be to publish the HASH of the offer on the municipality's website (and revealing the original document when tender is closed) instead of depositing the closed envelopes containing the documents. And what about a vote system based on blockchain? I bet it won't take long to see one...

[BTCXE]

not to mention ID systems, the possiblities are quite vast ! The country I live in currently already has a centralized ID-system with a portal for everything from taxes to votes to medical histories. if this would be supported by a network of miners it would give more secruity, right ? Do you have any ideas about potential threats on the current blockchain system ?

[secco]

not to mention ID systems, the possiblities are quite vast ! The country I live in currently already has a centralized ID-system with a portal for everything from taxes to votes to medical histories. if this would be supported by a network of miners it would give more secruity, right ?

Security yes, intended as data integrity. A block of data written on the blockchain cannot be faked at a later time as every block includes the hash of the previous block. You cannot change a single bit in a single block without changing ALL the following blocks... they are "chained" in a very good way.

Do you have any ideas about potential threats on the current blockchain system ?

I'm aware of the 51% attack. From this point of view, the more distributed is the mining power the more secure is the network. Actually the bitcoin network is not the best example of decentralization: a small group of pools generate all the hashing power... Plus it is not even very much energy-efficient. The enormous hash power used to keep the network safe could be used for more useful application, example scientific research. 

Obviously Bitcoin is the first release of this technology, so in few years we will see better and more efficient mining algorithms. POS already solved a part of those problem, thought I don't trust 100% POS network very much. However, the idea of securing the network through mining is just is genial, all the following improvement will be just small technical details.

I don't know of any other threat to the network. Are you? There are maybe some unknown threats to be discovered...