Blockchain will become more important than any digital currency

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Blockchain will prevail over any digital currency. According to Joe Pyndar, technical director at the cybersecurity firm Gemalto, blockchain will outshine any important digital alternative.

The cryptocurrency market is not stable. Despite the fact that the number of cryptocurrencies is growing, their value begins to deteriorate. Initially, the cryptocurrency appeared as a rare digital commodity. With an increase in the total amount, many of them will fail to maintain the viability of more well-known alternatives such as Bitcoin and the Ethereum.

Nevertheless, the underlying technology of the blockchain behind cryptocurrencies will provide main value for future applications. Bitcoin and Ethereum will remain viable in the long run. However, current prices are not future-proof.

Token and Blockchain

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The basic prerequisite for cryptocurrency is the token. It allows you to access various services. One of the few recent active tokens is the IOTA. It is focused on the Internet market of things (IoT). And while IOTA is looking forward to its long-term future, the ability to use it for IoT applications depends on eliminating the volatility caused by speculation.

You can run a blockchain without cryptocurrency, as demonstrated by the Metrognomo service. It charges a subscription fee for publication on the network. Or Quorum from JPMorgan Chase, the minimal-ramified network of the Ethereum. Its main purpose is to promote private transactions for the enterprise.

The future of the Tezos blockchain is questionable

Meanwhile, the Swiss blockchain startup Tezos was involved in a lawsuit with the non-profit foundation Tezos Foundation, which controls all revenues from the project’s crowdsale.

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Sadly, the news about internal disagreements in the project already led to a collapse of almost 60% of the prices for the December futures of Tezos on BitMEX.Graffic-Tezos

Unfortunately, the cost of Tezos derivatives went down by more than 30% on HitBTC exchange. The project tokens themselves are not in release yet. It’s almost three months after the completion of the crowdsale.

Let’s hope the project will recover. For now, stay on our blog for further news.

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