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LVL.UP KL: Disrupting Money - The Evolution of Cryptocurrencies

TM Lee
June 25, 2015
92

LVL.UP KL: Disrupting Money - The Evolution of Cryptocurrencies

LVL.UP KL: Disrupting Money (formerly Webcamp KL) https://www.facebook.com/events/994987267180818/

This presentation goes through a quick timeline on the ideas around decentralization throught the cryptocurrency ecosystem from the inception of Bitcoin in 2009, the proliferation of Altcoins (reasons for their existence), Blockchain 2.0 type coins, and Sidechains.

I run a cryptocurrency ranking and data platform at https://www.coingecko.com/

TM Lee

June 25, 2015
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Transcript

  1. What’s the Big Deal? Bitcoin is “Digital Gold” Decentralized Digital

    Scarcity with the Blockchain Programmable Money Market Capitalization ~ 3.5 billion USD Network Hashrate 391 Petahashes/second (1015 )
  2. Bitcoin is great, but others may not think so... •

    Bitcoin is deflationary. Nobody is going to spend their coins! (Only 21 million Bitcoin will ever be circulated) • Bitcoin Mining is becoming centralized. • Bitcoin can’t scale! • “I can do a better job!” • and so on...
  3. Bitcoin Total Supply 21 million coins Block Time 10 minutes

    Hash Algorithm SHA-256 Litecoin Total Supply 84 million coins Block Time 2.5 minutes Hash Algorithm Scrypt Duplicate Features “Silver” to Bitcoin’s “Gold” 2011
  4. Litecoin Total Supply 84 million coins Block Time 2.5 minutes

    Hash Algorithm Scrypt Dogecoin Total Supply 100 billion coins + Inflationary Block Time 1 minute Hash Algorithm Scrypt Much Fun Currency No Monetary Policy Planning 2013
  5. Blockchain 2.0 Bitcoin 2.0 Crypto 2.0 When Bitcoin is not

    even at Version 1 Rethinking the application of Blockchain beyond Bitcoin
  6. Ethereum (http://ethereum.org) Factom (http://factom.org) “You can program yourself to become

    a bank by writing a smart contract to hold deposits” “Put documents into the blockchain” “Decentralized Application Development Platform” “Proof of Existence, Proof of Audit” Storj (http://storj.io/) “Decentralized DropBox” “Rent your Disk Space”
  7. As of now, Bitcoin is the cryptocurrency leader in terms

    of adoption, market capitalization, development effort and network security. I wished we can have the best of Bitcoin and the best of Altcoin/Blockchain 2.0….
  8. Distinct Blockchains that run parallel to the main Bitcoin Blockchain.

    Expand Bitcoin’s Capability without changing Bitcoin code.
  9. Now Blockchains do not talk to each other Sidechain Bitcoin

    blockchain pegs against a Sidechain More info: https://www.blockstream.com/developers/
  10. Given that… Tread lightly. Not sure if decentralization is solving

    a known problem. Mainstream market more accustomed to centralization. Maybe it is just too early to say...