News Bitcoin - Is the Blockchain Rush a Search for Fool’s Gold?Throughout 2015-2016 many headlines involved the concept of a blockchain being tested by some bank or agency attempting to transform their business. Typically, these stories included a description of how blockchain derived from the cryptocurrency bitcoin. However, these articles quickly steer towards the use of a private blockchain to meet the needs of the banks and businesses. These people in search of the coveted blockchain solution will likely fail because they will be digging up “fool’s gold.” This year technological expert Andreas Antonopoulos mocked these headlines earlier this year stating:
"Major banks complete first international transaction using a blockchain’— You mean, the same thing bitcoin has done several million times?"
Bitcoin is truly a revolutionary experiment that has changed how we look at money today. The digital asset is the longest running public distributed ledger in existence, and no blockchain prototype can match its strength. The cryptocurrency has the largest network of users, operators, developers, and people building applications with its code. Furthermore, the bitcoin network is immutable and has never “rolled back” to fix losses or major incidents. No altcoin, alternative consensus mechanism, or the many private blockchain prototypes come close to bitcoin’s massive power.
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https://news.bitcoin.com/is-the-blockchain-rush-a-search-for-fools-gold/