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Ripple Executive Rails Against Bitcoin in New Essay

Source: bitcoin

Ripple Executive Rails Against Bitcoin in New Essay

Longtime blockchain developer, enthusiast and Ripple executive has warned in a new essay that blockchains could bring about a dystopia.

Also read: New Malware Sneaking Onto Mac Computers, Bitcoinists Be Warned

Ripple Exec Cites Failures of Social Consensus Model

Stefan Thomas, Chief Technology Officer at Ripple Labs, a leading private and public ledger company, wrote an essay titled “The Subtle Tyranny of Blockchain.”

The blockchain industry, he writes, foresees a blockchain revolution across a swathe of industries like finance, international trade and health care. However, Thomas pens, “blockchains are a pain to work with.”

“Harmony and consensus are valuable. But harmony taken to the extreme becomes a detriment,” he continues. “In the Lego Movie utopia, ‘everything is awesome’ only on the surface. Behind the scenes, there is tremendous diversity and a rapidly changing world, which doesn’t match the established consensus.” A picture of the authoritarian President Business from The Lego Movie graces the essay, implying that — like the movie — everything about blockchain technology is not as rosy as it seems.

Thomas also evokes the Bitcoin block size debate when writing about the difficulties of blockchain technology. With issues like network scalability, Thomas says the blockchain’s social consensus model represents an obstacle.

Despite his less-than-positive words, Thomas is still a Bitcoin proponent, running the website weusecoins.com — “a single resource” where the currency is “explained for the average non-technical user.”

The budding blockchain technology industry has received nearly a quarter of a billion dollars in funding so far this year. The largest technology companies (think IBM, Microsoft), and the largest financial institutions in the world (your bank) are investing in research and development for Bitcoin technology.

The foundation for their experimentation is Ethereum, but their technology will likely pair together new distributed ledger technologies for a secure and more efficient end-result. Distributed ledger and blockchain technology is designed to do one thing: track payments, back office processes, securities and derivatives, health records – everything.

But, as Thomas’ essay poses, what if there is a darker side to blockchain technology? Thomas suggests issues in growing the technology.

In particular, experimentation and improvements to the software are hampered in a blockchain system because a majority of miners who run the software must agree to deploy the update before it can be rolled out.

“The fact that one corner of the system can be updated and good ideas can eventually spread to the system as a whole has been essential for the Web’s ability to keep pace with technological innovation,” he said.

“In a blockchain like Ethereum’s, everyone has to think the same,” he said, suggesting that differing opinions can lead to developmental gridlock — something that has been an issue in the Bitcoin community for a few years.

Thomas concludes his essay with a plug for Ripple’s Interledger Protocol, describing it as a more flexible and individualized way to send or receive payments. Because of this added choice, “crucially,” he said, “our thoughts can be — once again — our own.”

Ripple has fallen out of the crypto-spotlight in recent years, after internal strife gave rise to a community-wide scandal in 2014 that tarnished the project’s reputation.

Thomas is perhaps best known for his “What is Bitcoin?” video on YouTube, which has been viewed more than 6.8 million times.

What do you think about Thomas’ essay? Let us know in the comments below!


Images courtesy of Galen Valle via RedBubble, Ripple.

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Ripple Executive Rails Against Bitcoin in New Essay

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Kvě 06

Emercoin Added to Microsoft Azure Platform

Source: bitcoin

Emercoin Microsoft Azure

The Emercoin platform was built with a key goal in mind, to help solve real-life problems and deliver decentralizing solutions for businesses around the world — and that goal became a little easier to achieve earlier this year.

This article was provided by the Vanbex Group on behalf of the Emercoin project.

Emercoin Added to Microsoft Azure Platform

As of January 2016, Emercoin-based products were made available in Microsoft Azure’s Blockchain as a Service (BaaS) platform for users to build from scratch and deploy, at various scales, blockchain-based architectures.

It also means users are no longer dependant on inflexible data center servers as Azure integrates everything and offers tailored packages to fit users’ needs and capacity.

“Azure is similar to a mall, where organizations can buy cloud services, and we provide our platform for all their needs while they build within Azure,” said chief technology officer at Emercoin, Oleg Khovayko.

“For us, this is a win-win situation. Azure can expand its BaaS suite of offerings and we can offer our Emercoin platform to existing customers on a highly flexible and powerful virtual machine platform.”

The Azure platform operates throughout 24 regions in the world with over 22 available online and over 100 data centers operating to power the network. Virtual machines are available to run on Windows, which is a familiar environment to much of the world, as well as Linux.

For those wishing to try the Emer platform on Azure, the BaaS Node template is available in the Azure github storage (here). Getting running is as simple as click-and-deploy.

The basic package comes with a secured API connection for external applications and a built-in web interface for wallet management.

The current available products offered on Azure for the Emercoin platform are:

  • EMC SSL: Decentralized solution for online security and passwordless authentication.
  • EMC SSH: Decentralized solution for secure shell management.
  • EMC DNS: Censorship-resistant domain name system.
  • EMC TTS: Trusted time stamping service.
  • EMC STREAM: Micropayment library for streaming digital media of all types.
  • EMC LNX: Decentralized pay-per-click advertising network of its kind.
  • EMC DPO: Digital proof of ownership solution for physical or digital goods and services.
  • EMC InfoCard: Storage for digital business cards for use with EMC SSL.

As Azure’s BaaS continues to develop, the technical and creative capability for businesses to develop innovative blockchain solutions grows that much easier.

It begins with accessibility, which, on one hand, is helped by manageable costs. Most practical, however, is what the Emercoin ecosystem offers, which is a breadth of decentralizing technologies to help push enterprises large and small, forward, into the latest, state of the art future-tech for business.

Emercoin is a merchant platform, that can provide cost-savings and streamlined solutions for more efficient and robust applications than currently being applied across a majority of industries today.

Emercoin on Azure is a stepping stone to changing the way business can be conducted.

 

The post Emercoin Added to Microsoft Azure Platform appeared first on Bitcoinist.net.

Emercoin Added to Microsoft Azure Platform

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