For mass adoption of Bitcoin does not need a technological breakthrough

Analysis unit BitMEX has introduced a new forecast that new development like a Lightning Network, will not help Bitcoin to take off and gain a lot of new fans overnight. Moreover, researchers have one of the largest kryptomere derivatives on BTC believe that for mass adoption of cryptocurrency in General is not necessary to wait for any breakthrough innovation.

At least it says so in the official Twitter of the research Department.

And there will be no sudden breakthrough that will immediately solve all the problems of scalability and privacy, as wanted by many users. It is more likely that Bitcoin will evolve consistently over the years. And some updates are not only useful in themselves, but each will complement the previous one.

Notably, this statement contradicts the belief of many representatives of cryptosphere that mass adoption of Bitcoin and cryptocurrencies in General will only happen once the industry will survive the sudden technological breakthrough.

In turn, BitMEX identifies three promising vector for the development of Bitcoin. This Lightning Networkand technology Segregated Witness signature Snorra. Moreover, the report asserts that all technologies based on the largest cryptocurrency should work together and complement each other. The only way the end result is we will be able to obtain improved scalability and a good level of privacy.

In Blockstream urge to come to grips with Lightning

It is worth noting, these statements quite agree with the comments of the head of the security Department Samson MOU from the company Blockstream focused on blockchain technology. In conversation with a news resource Decrypt MOU shared his great faith in the Lightning. However, he believes that the impact technology will have a weight, but only if users close take for it to spread.

Lightning needs to develop organically — it makes no sense to artificially speed up this process. People need to open channels, lochit bitcoins and connect to other nodes.

Currently, the network Lightning a little more than 30 thousand of channelsthat each user of a cryptocurrency can be used for sending BTC. Don't forget to read our detailed article Lightning Network in the fingers, or Like Bitcoin give a second chance.

By the way, according to MOU, “at the moment we are even ahead of the curve of rising demand and use of the LN”.

And what happens with the Bitcoin?

The current slowdown of growth rates a growing concern that the previous growth reflects only overheated expectations. Now analysts studying the longer-term aim at least for April of next year. Until then, according to the indicator of the presence flows, price will take a relatively flat vector and will remain in the area of 8300 dollars.

Source: 2Биткоина

It was at this time scheduled the next halving reward for mining new bitcoins. Many now believe that this event will become a turning point for the price of the largest cryptocurrencies, as it was after all the previous chalangov.

What about the current size of the block?

First of all, for understanding blocks and their role in the cryptocurrency encourage you to read this article.

According to MoA, the block size Bitcoin using the technology of Segregated Witness is equivalent to 4 megabytes. However, as he notes, in the future we may realize that even such a block size is “too big”.

The basic rate on Lightning Network. Now the size of the unit of Bitcoin is equal to 1 megabyte. Transactions that are accumulated outside the network, do not load it. Therefore, LN can help to solve the issue of scalability of the Bitcoin network.

By the way, the Protocol allows for offline transactions with bitcoin, the fee for which will be no more than 1 Satoshi (at the time of writing is approximately 0.00007944 dollar). However, mass adoption of technologies interfere with the experimental nature and the lack of a convenient interface.

In our cryptodata of hontarov you will find lots of other useful information.

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