During last March 24, the session «Question-answer» bitcoin Evangelist Andreas Antonopoulos explained that, in his opinion, necessary for the development of the cryptocurrency industry, and also shared his views on the future development of Bitcoin.
There are four basic things needed Bitcoin this year
At the beginning of the session, Antonopoulos jokingly noted that the industry does not need something extraordinary like «artificial intelligence, three-dimensional printing or expedition drones to Mars.»
He said: «the fact is that at this stage the most important projects are really projects basic infrastructure».
According to Antonopoulos are the four major directions, it is necessary now the cryptocurrency industry include:
the increase in the number of exchanges;
the continued development of cryptocurrency wallets;
easy to use cryptomate;
of the educational system.
The increase in the number of exchanges
According to Antonopoulos, exchanges can not be truly global, they are tied to national culture, language, currency and regulations. It is therefore necessary that in each there were at least 3-4 of the exchange. A large number of exchanges will support the liquidity and activity of the cryptocurrency market and provide healthy competition. Now there are about 800 exchanges, not taking into account specialized for certain cryptocurrencies.
«This economy is not Autonomous, it cannot fully function within the cryptocurrency space. I think that it will happen someday, but not now.»
The development of wallets
Development of cryptocurrency wallets is another area that needs optimization, especially when it comes to newcomers. In particular, there is a critical need in a safe and easy to use wallets that use the latest technology capable of processing various kinds of commissions and to enable their evaluation.
Antonopoulos wallets calls the «front edge» of the cryptocurrency industry, and for most new users first experience with cryptocurrencies starts with the installation of the purse. He notes:
«If the UI is bad if it is not clear if it causes a safety problem or has problems with other functions, if they have not applied the latest technology, people will be difficult to use cryptocurrency».
With the development of cryptocurrency market requires more cryptomate with a reasonable-sized commissions. Today, many users decided to use cryptomate often find that it doesn’t work or charge too high commissions.
The educational system
The issue Antonopoulos did not pay particular attention, however, he always stresses the need for more close acquaintance with cryptocurrency and its underlying technology, an increasing number of people.
What will happen to Bitcoin in the future?
In addition to the discussions necessary for the development of the cryptocurrency industry, Antonopoulos reflected on the developments that in the near future can implement Bitcoin Core.
MAST and Schnorr
According to Antonopoulos in 2018 will be implemented technology called MAST. This upgrade was recently approved by the Bitcoin Core developers and is already preparing for testing. Implementation of the MAST must provide verification of a single program element or circuit without the need for a full blockchain. This development will reduce the size of transactions will increase privacy and will make possible the use of these smart contracts in the blockchain of Bitcoin.
Signature Snorra (Schnorr signatures) and the combination of signatures included in the number of «most likely» updates after the introduction of the MAST. Signature Snorra will replace the existing Protocol of Bitcoin signatures to combine data of the same signatures and optimizes the space in the blockchain. In addition, signature Snorra should help in solving the problems of speed and scale, which is now experiencing Bitcoin.
Antonopoulos also predicts that, despite the increase in block size with SegWit in 2018 Bitcoin may need a more dramatic increase of the block size, which will happen in hardwork:
«Yes, I do think that the block size is larger than one megabyte. In fact, now the block size exceeds megabytes, the increase was the result SegWit, but I think we will have a further increase of the block size, including those implemented through hardwork».