Blockchain

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Blockchain is not only Bitcoin, but has a broader value. Agreed?
How the Blockchain technology can better regulate/manage cyptocurrency valuation?
From your perspective (as an investor/buyer, miner, exchange, wallet provider/user etc.), can you list the controls that potentially reglate crptocurrencies?

Blockchain Technology
cryptocurrency
Bitcoin
Kishor Akshinthala
79 months ago

3 answers

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A crypto asset could be a coin, utility token, or a tokenized security but its value is governed by the simple economics of supply and demand. A common feature of every crypto asset in that it is finite meaning supply happens mostly only once during a token generation event (TGE) or initiatlly referred to as an Initial Coin Offering (ICO). This means that the value of this crypto asset depends purely on demand after this point.
Usually, the demand for an asset depends on its intrinsic value to be useful, be widely adopted, or its ability to deliver on a promise. However, the ICO space has been plagued by mass speculation with over-optimistic expectations about how every crypto asset is the next big thing. This means that when things get real, there are going to be only a few that do justice to their valuations. Hence, anyone who wants to invest in these crypto assets needs to understand its potential by performing highly sophisticated due-diligence that evaluates both the business and tech potential, and the track-record of the management team behind the crypto asset.
Crypto Assets are difficult to regulate or control through blockchain technology itself but there may be regulatory bodies that can intervene to ensure the crowd is protected and educated with proper frameworks to weed out scams or ICOs that produce no tangible value, have no merit or credibility as a feasible investment opportunity.

Timmy Wahba
78 months ago
Kaumil Dalal: Much like other industries, blockchain is still in the pilot and test stage for healthcare. The results of these pilots and tests are much harder to find. - Dr. David E. 64 months ago
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Blockchain security?
learning the hard way

Did you know that last month’s 51% attack on Ethereum Classic, was the first one against a top-20 cryptocurrency, and served as a wakeup call? Blockchain hackers are getting better, and they’re going after high profile targets.
 
Before last year 51% attacks, in which an an attacker is able to gain more than half of a network’s mining power and use it to double-spend cryptocurrency, were mostly theoretical. But hackers appear to have made off with more than a million dollars worth of Ethereum Classic—and it was just the latest in a series of such attacks against several different coins in recent months. Slumping coin prices have played a role—as coin prices drop, miners turn off their machines and leave blockchain networks with less protection.

Meanwhile, marketplaces have popped up offering mining power for rent. Put the two together and you’ve got a recipe for bad actors to break blockchains.

Blockchain security doesn’t end with protecting against 51 percent attacks and others that focus on the system’s consensus mechanism, though. Smart contract security issues present a whole new can of worms.

Any thoughts?

Dr. David E. M
63 months ago
Agree David. Very well mentioned. Stealing coins ( basically these are just keys in a text file) is not new and a lot of companies have paid big price for that. - Hitesh 63 months ago
Agreed; sadly - Dr. David E. 63 months ago
Valid concerns. 51% attacks exists because proof-of-work is fair. Exchanges must adapt their security policies to chains with smaller hashrates. Declining markets lead to reduced hashpower. Unsavory individuals view it as an investment opportunity. If the token is worth enough, dedicating massive hashpower to the chain in order to defraud legitimate exchanges is worth the effort - Kishor 63 months ago
Agree - Even with the introduction of BC and EHRs, healthcare organizations struggle with age-old processes of data management. - Dr. David E. 63 months ago
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Yes its very obvious now - Crypto currency is one use case of Blockchain. Bitcoin is an example.
This is a complicated thing to regulate since nobody owns the coin as whole. Its Machine that owns and tracks the asset here. The time you enter in regulatory business - the war of control may start.
Having said that to protect investors following things can be done -

  1. Whitlelist currency platforms
  2. Whitelist crypto currencies ( Every day one new crypto currency is starting - this needs to be controlled)
  3. Whitlist the wallet

At least one should know which playgrounds are safe.

Hitesh Mathpal
63 months ago
Good points and well said - Dr. David E. 63 months ago

Have some input?