To start the day with the expectations above, we decided to publish the close of the first day of laBITconf today. In addition, we are confident that the panel and the exhibitor will achieve our goal of encouraging them. This occurs because the day of yesterday was Andreas Antonopoulos who finished with his presentation of the development of the cryptocurrencies and the change in the money.
Contents
On Antonopoulos
First of all, we must explain who is Andreas Antonopoulos, given that not everyone in the world knows the character. In a nutshell, is one of the stars of Bitcoin of Greek origin. Antonopoulos is an expert in the topic of development of cryptocurrencies, particularly Bitcoin. For this reason, each event that’s going on, we love to make coverage for their knowledge. For this reason, when advised that he would participate in the laBITconf we generate expectations, and fulfilled them. Andreas M. Antonopoulos exposing in laBITconf 2019
The development of Bitcoin
Antonopoulos began with a reflection with respect to the birth of Bitcoin, stating that for the first time the money is in software, is a protocol. However, with its emergence came a new discussion. Now the financial structures they need to ask themselves which changes to make when you consider the money as a protocol. Most likely to say that software should be closed, without public support, as it ensures security. Although Antonopoulos poses a different situation, in accordance with its approach, Bitcoin is the one who brings security to the market, even being open source. Only that this thought is not shared by the professionals-traditional, whether economists or politicians, without giving value to the software. Subsequently Antonopoulos noted that this is the vision and discussion between the financial they like or reject Bitcoin. Noting that there is also a point of view of developers, who do not understand the world of finance. This group of people are characterized by a mass young man who seeks to change the world, only that they do not understand the financial relationships. In this way we have the two situations: one with rejection of the change and other who don’t know how to change.
The time will fix it
Faced with this precarious situation, Antonopoulos is shown to be calm for something that is accepted and ensures that will happen: the money outdated it will eventually. In this way the money will be a protocol, which its value will depend on the confidence of the protocol. In addition, this event will begin a chain of changes, particularly in the perspective. Money as we know it will change, but the question is, to what?. Antonopoulos argues that this answer depends of each one, according as you want to see it, possible to break the absolutism of today.
The present tottering
However, Antonopoulos argues that the present is where it is happening the phenomenon of discord. With developers who refuse to listen to the financial and vice versa. The solution proposed to this problem is simple to say but difficult to apply: it is necessary to integrate the cryptocurrencies. Antonopoulos argues that in order to thrive and develop to the cryptocurrencies, it is necessary a formation process. In addition to integrate into the financial education, must also be done with the economic, even the same engineering. In this way you lose the fear or doubts with respect to the transition from money as we know it to be a software. Given that it is expanding the level of understanding of the people.
No more errors
Subsequently, Antonopoulos explains that with money as the software is no longer necessary to experiment with people, given that you can modify quickly and easily. Highlighting this point is important when considering the financial errors that have occurred during the history. The most recent being the great financial crisis of 2008. This solution Antonopoulos is thanks to Satoshi Nakamoto in January of 2009, he launched the software that we will one day be money. The most outstanding thing that has Bitcoin, which reflects the importance of money as a software: consensus. With this idea posits that, even when it seems impossible, Satoshi managed to build a protocol that works by the consensus of the users. In this way, any error can be changed in a simple way, without relying on bureaucracy. In addition, now the people have a direct impact on the decision making of what you do with your money. It should be noted that Antonopoulos refers not to fix problems, but to evolve to the money. Collecting in this way the history of money as a software, building a road. Recalling that is constituted by rules that were obtained by consensus.
How do we reach the consensus?
Antonopoulos responds to the question that various people we were doing when we hear it: how do we reach consensus?. Posits that there are two ways of doing it, with Bitcoin as an example. The first is simple, to go fast you must go slow. To avoid errors in the software, it is necessary that each change is to take the time that is required to be assessed and applied. Allowing you to do the necessary tests out of the software as such, simulating and fixing. The second way is by creating particles ups, making reference to the chain learn from the mistakes of the past. In this way, these rules are those that hinder the recurrence of certain errors in the software. In addition, the rules of consensus help to all the members of the software are in sync, even if it is the first time they enter.
Derived valuable
Continuing with the idea of modifying Bitcoin, a derivative was born from this idea of wanting to change fast. Antonopoulos refers to Lighting Network, accelerating more than just transactions, it also changes. Given that LN does not follow all the rules of consensus, allowing to make necessary tests with this tool. Then, even the traditional banks, people are skeptical and all over the world can recognize that Bitcoin is a work of art created with difficulty. But this has evolved to mark the history of the people, with money as the software eventually.
Quantum Computing
To end his presentation, Antonopulos you choose to answer questions from the public, finding an interesting: Quantum Computing. Posits that it is a major threat, because they not only can break Bitcoin, you can also break everything associated with cryptography. Whether the communication with the bank, the communication with the armed forces, anything that involves safety. We hope you have enjoyed this panel, we found it to be quite interesting and complete. In addition, we invite you to continue accompanying us during the day today to know about what awaits us in the laBITconf. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.