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Title: [WHY?] Does Crypto Currency Rely on Internet ISP to perform transactions??? Post by: SwissBoo on February 06, 2018, 11:26:18 PM One of the main goals behind the creation of cryptocurrency and blockchain technology was to cut reliance on third parties (aka Middlemen)
such as; governments that regulate and print fiat currency. And yes, third party exchanges are being resolved with decentralized exchanges. However, doesn’t crypto still rely on ISP? I mean, without them, transactions aren’t possible, right? I feel like this a problem that most developers, investors, and futurists don’t recognize. However, the reason this question came to my mind was because of BlueCoin (BLU). Their vision is to develop a product that will provide bluetooth transactions that doesn't need an internet connection. I’d love to here the community’s thoughts on this third party ISP problems for transactions. Title: Re: [WHY?] Does Crypto Currency Rely on Internet ISP to perform transactions??? Post by: SwissBoo on February 06, 2018, 11:42:48 PM Here’s some concerns when it comes to crypto’s reliance on internet providers:
As adoption increases, demand for the internet and therefore the price of having internet will increase - ISP don’t cover many places in the world including areas in South America, Africa, the Middle East, and Asia. - Without Net Neutrality, providers can slow or stop crypto networks by altering their access to the internet - Natural disasters, which seem to be on the rise, can cause internet outages which means you couldn’t use your crypto to buy essentials such as food and water - ISP would have to be completely trusted because they would more or less have complete control over the financial sector Title: Re: [WHY?] Does Crypto Currency Rely on Internet ISP to perform transactions??? Post by: SwissBoo on February 07, 2018, 08:48:41 AM bump
Title: Re: [WHY?] Does Crypto Currency Rely on Internet ISP to perform transactions??? Post by: penig on February 07, 2018, 09:05:53 AM Yes, internet access requires an ISP. And you cannot avoid this, even if you produce a peer-to-peer mesh network linking people locally, at some point they need linking to the main networks.
Bluetooth or Wifi are limited range to ~100m (possibly more for Wifi with advanced antenna), so restrict networks to dense population, or need a lot of relay infrastructure. Title: Re: [WHY?] Does Crypto Currency Rely on Internet ISP to perform transactions??? Post by: SwissBoo on February 07, 2018, 08:16:22 PM Yes, internet access requires an ISP. And you cannot avoid this, even if you produce a peer-to-peer mesh network linking people locally, at some point they need linking to the main networks. Bluetooth or Wifi are limited range to ~100m (possibly more for Wifi with advanced antenna), so restrict networks to dense population, or need a lot of relay infrastructure. right, so in the future of local transactions, bluetooth would be best suited? |