Posted 1 year ago | by Ben Armstrong
Blockchain is making some big changes happen in the world. BTN is a new blockchain that is working to address all the issues that the current decentralized blockchains face. It is built to be scalable, and also replace centralized media repositories, like YouTube, as it grows in popularity.
The world of cryptos has grown substantially over the last decade, and many things are happening today that couldn't have been imagined in the early days of Bitcoin. Some are good, but others may be a problem for the long-term viability of the world's most popular token.
Let's face it, Bitcoin is a lot more popular than anyone ever thought it would be. Cryptos are so popular, many think they would be a good way to replace existing platforms like Visa. Here is the thing, the Bitcoin blockchain isn't going to be the one that does it.
Well...lots of reasons, but the biggest deal-breaker is the speed of the blockchain.
Bitcoin is simply too slow, and any kind of sidechain or FinTech solution, etc... compromises the values that Bitcoin backers have. BTN has recognized the need for new ideas and has created a blockchain that would fit the needs of an emerging marketplace.
BTN Has Some Big Advantages
People who love Bitcoin generally adore values that empower the little guy or girl.
While it isn't widely discussed, the world of Bitcoin is controlled (more or less) by a handful of 'whales' which dominates the supply of existing Bitcoins, and a few mining interests that have all-but priced small-scale miners out of the market.
The BTN Blockchain is designed to offer rewards to miners, but not in sufficient qualities to encourage the development of large-scale mining operations. The advantages that this offers to users (or miners) are two-fold.
Let's Talk About Real Ownership – Today, and Tomorrow
To start, a network that isn't going to be operated by a few monopolists is going to be far more resilient. As a series of floods and other natural disasters in China have demonstrated, when a lot of a blockchain network is operating in a single geographic region, it is subject to big shocks.
The second advantage is one that isn't going to be as obvious.
When a blockchain relies on a specific type of hardware to be profitably mined (like Bitcoin), the ownership of the blockchain in its entirety becomes dependent on the companies that are producing the hardware to run it.
If the companies that manufacturer Bitcoin mining equipment decide to stop operations, or are seized by a government, the entire future of the blockchain would be in jeopardy. Needless to say, both of these issues are solved by small-scale miners, who won't become a monopoly, or rely on specialized hardware.
Back to Basics
Bitcoin is an overwhelming success. Most people who don't know anything about cryptos know about Bitcoin, but this isn't necessarily a great thing. Cryptos formed as a way to opt-out of the established financial system. While this is a worthwhile goal, it may be out of reach for Bitcoin.
As mentioned above, the Bitcoin Blockchain is held captive by industrial-grade mining operations and can be manipulated by Bitcoin holders with deep pockets. BTN envisions a world that can use a truly decentralized blockchain to perform transparent transactions, and also help people decentralize in other ways.
The blockchain architecture that powers BTN is well thought out and draws on the experience of the pioneering efforts of the decentralized community. No system will be perfect in its first iteration, and there will always be new ideas that can be industry shattering.
If you want to learn more about BTC, or how it plans to make cryptos better over the long-haul, just click right here for more information about the blockchain, and the values behind the project.