Ethereum: Why can’t we design a bitcoin that does useful work? [duplicate]

Case of Bitcoin -based computer platform: Why can’t we create a “useless” version

As one of the pioneers of the decentralized internet, Ethereum is at the forefront of innovation and progress. However, as we continue to exceed the possible limits of blockchain technology, it becomes increasingly clearer that the current approach to the construction of cryptocurrency prevents us from exploiting all its potential.

In this article, we examine why we can’t project a bitcoin -based computer platform that generates no profit – and why it is time to think about our approach.

The boundaries of cryptocurrency

To understand bitcoin restrictions, we first determine what it is. A cryptocurrency is a digital device that uses security encryption and decentralized, which means that no central authority checks it. In particular, bitcoin is designed to serve as a digital gold pattern, which aims to store value and facilitate transactions without mediators.

However, if we consider the resources of a computing platform such as Ethereum, our initial intuition may lead to us that we thought we could easily repeat bitcoin functionality. After all, Ethereum is based on the same blockchain technology that provides a huge amount of computing energy and storage.

The question is: Useful of comfort

The problem lies in the fact that the current approach to computing performance is a finite resource, as well as the current approach to the construction of physical resources and cryptocurrency for maximum usefulness. The transaction -evalidation process and the creation of new blocks require a huge amount of computational energy on the Bitcoin network, which can be greatly disputed by malicious actors.

On the other hand, Ethereum has strongly invested in the development of its own participation algorithm (POS), which significantly reduces the energy needed to validate transactions. This allows users to mince the cryptocurrencies such as Ethereum without burning or endangering hardware characteristics.

The need for more efficient and scalable platform

So why can’t we simply create a “useless” version of Bitcoin, which does not generate value? The answer lies in the cryptocurrency not only about the production of transactions; This is also about creating a decentralized network that allows safe, transparent and efficient data storage and transfer.

A more efficient and scalable platform, such as Ethereum, would be better prepared for the needs of a huge and diverse user base. By taking advantage of its own primitive cryptographic, such as homomorphic encryption and zero knowledge tests, Ethereum can create a robust and secure data management system that goes beyond mere utility.

The future of a computer blockchain

As we continue to help understand blockchain technology, it is clear that decentralized computing opportunities have been enormous and not discovered. If you go beyond the possible limits of cryptocurrency, you can create new applications and use cases that were previously unimaginable.

The potential application is located in the field of data analysis, where the necessary enormous calculation power can be used to analyze large amounts of data without the need for centralized authorities or mediators.

Conclusion

In summary, although Bitcoin was a wonderful success story, it’s time to think about the approach and design a cryptocurrency that really adds value. By exploiting the strengths of Ethereum as a computer platform, you can create a more efficient, scaling and safer system that goes beyond mere utility.

As we continue to exceed the possible boundaries of blockchain technology, one thing is clear: the future of decentralized computing is brilliant, and it is time to take advantage of its full potential.