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A Google search for “blockchain” brings up nearly 300 million results. Try finding “understanding blockchain” and you’ll find a mere 152,000 references.
And there’s the innovator’s dilemma. While there’s no shortage of commentary on blockchain from supporters as well as detractors, the clash of opinions, information and misinformation has made it difficult for even a general tech enthusiast to figure out what blockchain is and isn’t.
These are five of the most prevalent myths debunked.
A lot has happened since Satoshi Nakamoto penned his infamous Bitcoin whitepaper in 2009. At the time of writing, the price of Bitcoin now sits at just over $9,000, at its peak approacheing the lofty heights of $14,000. The cryptocurrency now boasts a market cap of $169 billion and commands 69 percent of the crypto market.
Aside from Bitcoin establishing itself as credible object of value, blockchain, the technology (or suite of technologies) that underpins the digital currency, has captivated businesses around the world. Many are investing astronomical sums to exploit what they perceive as the biggest technological disruptor since AI.
Blockchain hype is at fever pitch. According to analyst house Gartner, the technology will create more than $176 billion dollars worth of business value by 2025. At technology conferences around the world, blockchain ‘experts’ are urging organisations to move past Bitcoin and crypto obsession. The crypto arena is the playground of cranks and snake oil salesman, we’re told — blockchain is the domain where serious technologists should focus their attention.
The hackers used a combination of techniques to steal API keys and two-factor codes, CEO Changpeng Zhao said One of the world’s most respected cryptocurrency exchanges has suffered a stunning data breach, in which hackers stole more than £30 million in cryptocurrency. Binance said hackers were able to withdraw 7,000 Bitcoin (£30.9m) in one transaction… Read More