In a recent talk, nChain’s Craig Wright spoke about the future prospects of Bitcoin [BTC] and the ways to achieve Satoshi Nakamoto’s vision. He also touched upon how Proof of Work [PoW] is different from Proof of Stake [PoS].
Craig Wright stated that capitalism is important for the future of developments. He said that Bitcoin and its iterations need to be stable to inculcate a sense of security amongst users of the cryptocurrency. According to Wright, Bitcoin as a concept needs to be the same in the coming years or else it loses its value as a transactional commodity.
He also stressed on the fact that cryptocurrencies and Bitcoin as a whole, do not flout any rules but actually work under the ambit of the law. Digital signatures were also mentioned by the nChain official, citing its credibility as an accepted mode of payment. Wright said:
“ If the system changes in 6,12,15 months then no one will use it. The cryptocurrency market needs to be stable if the user base has to increase. Bitcoin has always been about economics and the need of the hour is to implement it in a good way.”
The nChain official added that there is an aim to make Bitcoin embrace the internet and make it even better than the Internet of Things [IoT]. Craig Wright was also in the news when Bitmain’s Jihan Wu called him a Blockstream spy. The CEO of Bitmain made this comment on the basis of an email that said:
“I see now that Roger Ver, Rick Falkvinge, Olivier Janssens, and Jihan Wu appear to be aggressively attacking you in public and trying to distance BCH from you. To the best of my knowledge, all of these parties previously believed in you. It seems to me that it is simply a matter of time before a forceful public denunciation by someone previously cited as proof of your merit, such as Gavin, brings things crashing down around you.”
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Author: Akash Anand