During 2017, many events occurred that shaped the blockchain ecosystem. Intense discussions took place on scalability, market exuberance, multi-million dollar initial funding rounds, dozens of forced bifurcations, cryptogates and Roger Ver feeling greatly offended by references to his misleading project like Bitcoin Cash.
In 2018, the bitcoiner community must be extremely attentive, as it looks like a very promising year that may prove decisive for many aspects of a technology that has already begun to change the world.
As for Bitcoin, in this new year it is eagerly expected that the appropriate scalability solutions will be implemented with a view to lightening the network and reducing transaction fees. One of them is SegWit (Segregated Witness, the protocol that was at the centre of the controversy during 2017 and which many services have not yet activated, but seems to be increasingly adopted.
As a tip to the bitcoiner community, I could suggest that they stop using services that don't implement SegWit on their platforms and migrate to others that do, as this protocol has not shown errors or failures in its development.
On the other hand, although they are in the early stages of development, Lightning Network is an even faster protocol that consists of micropayment channels outside the chain and that could reduce transaction fees to the point of being free.
Continuing with the topic of transactions and that, although it is also under development, Atomic Swaps are a great tool to monitor during this coming year. These make it possible to exchange cryptocurrencies through payment channels specially formed for this transaction, thus eliminating the exchange houses established and providing blockchain with even greater decentralization.
On the other hand, the growth of the cryptomoney ecosystem has gone hand in hand with two extremely relevant factors: the adoption by traditional and governmental institutions and the very high speculation of cryptoactive commercial operators.
This year, many governments are likely to start particular projects to issue cryptocurrencies or use blockchain technology to manage paperwork and record documents, while the volatility of markets will continue to attract new cryptoactive traders eager to enter and exit their positions with high yield expectations.
But be careful with this. Bitcoin and blockchain is an ideal, technology that will give a 180-degree twist to human activities. It is about the revolution of trust, not a method to enrich oneself. Although we can speculate and make juicy profits in the daily routine of cryptocurrencies exchange, it will not work in the long run, and it should not be the only attraction or reason for people to participate in it, since the use and application of technology goes beyond making sumptuous profits.
An example of governments' interest in participating in these markets and technology is what the Venezuelan government is doing now. Petro, the Venezuelan state's cryptocurrency, could be issued before the first quarter of the year and rumors abound about its nature in various circles.
One of these rumors is that public employees could receive payments in Petro and would be responsible for selling it by accepting any currency in the world. Other comments accuse him of being illegal since the country's Hydrocarbons Law prohibits giving natural resources as security for an asset, as economist and assemblyman José Guerra argues.
To make technology grow, it is crucial that we study the cryptocurrencies in which we invest and that we internalise the need to promote this as a technological solution and not as a financial bubble that we can participate in before it explodes. This will prevent comments that seek to harm or foster uncertainty among the community from thriving.
For my part, I will be providing information to our readers, whom I would like to thank for joining us in 2017 and for continuing with us this year 2018. I wish you much prosperity and success!
LATEST NEWS
LOCALBITCOINS IMPLEMENTS SEGWIT ON ITS PLATFORM:
https://steemit.com/bitcoin/@emmanuel250998/localbitcoins-implements-segwit-on-its-platform
UK CENTRAL BANK CONSIDERS CREATING ITS OWN NATIONAL CRYPTOCURRENCY: https://steemit.com/bitcoin/@emmanuel250998/uk-central-bank-considers-creating-its-own-national-cryptocurrency
CRYPTOCURRENCY EXCHANGE HOUSES ARE THE MAIN TARGET OF ATTACKS DDOS:
https://steemit.com/bitcoin/@emmanuel250998/cryptocurrency-exchange-houses-are-the-main-target-of-attacks-ddos
THE BEST CRYPTOINVESTMENTS OF 2017:
https://steemit.com/bitcoin/@emmanuel250998/the-best-cryptoinvestments-of-2017
VIRTUAL REALITY COMPANY WILL USE BLOCKCHAIN TO RECORD THE EXCHANGE OF ARTICLES FOR AVATARS:
https://steemit.com/bitcoin/@emmanuel250998/virtual-reality-company-will-use-blockchain-to-record-the-exchange-of-articles-for-avatars
I hope you found the information helpful! Please give me your vote and resteem my post to help me grow in the community. Also follow me so that you don't miss the latest news about the cryptocurrencies. Greetings from Venezuela ;)
