My Thoughts on the Crypto Currency Wars & Most Recent BTC Forks + ZkSNARKS.

Hello Hive account@everyone, this is my first post and am excited to share some insight into what I know to potentially help the Steemit community understand my perspective, learn other perspectives and potentially entangle with other community members. I am no expert by any means, but I do have a deep love for open source, technology, and the deepest questions of our minds. Now that I have introduced myself a bit, I will to inspire to inspire.

Bitcoin (BTC) was the first successful implementation of an idea that begun in 2009 by Satoshi Nakamoto and a variety of cyber punks. The first version of his idea was focused on '1 CPU = 1 human vote'.

The main points are:

1. The old is centralized, top > down, inefficient and insecure.
2. The new is distributed, secure, immutable (people power).

Bitcoin is an application that sits on the application of the block-chain. The block-chain is simply a ledger that stores 'immutable' data that can be tracked transparently through each transaction or reception.

To continue, BTC has evolved and now has its own challenges. Three I know of off the top of my head are: aka 'meta data' leakage(s), the notorious double spending problem and how fast the application can process TX's and RX's.

A modern solution to the meta data challenge, is using the algorithm and technology called 'Zero-Knowledge Protocols (ZKP)' and is being developed on by a crew of master engineers.

You can read more here about ZKP:
http://vitalik.ca/general/2017/11/09/starks_part_1.html
https://z.cash/technology/zksnarks.html
https://people.rit.edu/~bgl9668/csci762/BenLiptonZeroKnowledge.pdf

Equilhash algorithm has enabled the ZK-SNARKs trusted platform --check out the alt coins!

Another challenge is the speed to which BTC can transact on. With BTC volume at 8 Billion at this current point in time, it is tough to match the speed at which credit cards operate on every second of the day. The transactions are in the millions of millions per second.

Now, we have Bitcoin Cash (BCH), Bitcoin Gold (BTG) and Bitcoin Segwit2x (B2X) 'hard forks' or branches from the OP BTC. BTG doesn't seem to have much of the technical jargon thought out and is asking for money or hand outs, BCH seems to be a nation trying to control their own block-chain and B2X which was suppose to ensure faster transactions, but overall was a scam because of the loop hole it allowed for double spending.

Keep in mind, for any block-chain to survive, it needs people like us to support it.

The technical details and specifications with this 'new BTC label' is higher transaction volumes which is good.

Keep in mind, BTC volume has reached equilibrium of USD.
In my humble and honest opinion. The question(s) for each heart and mind, comes down to:

1. Do we support big money or?
2. Do we support the teachers, our children, developers, engineers, scientists, and variety of hard working individuals?

Overall, the main challenge I see in the overall future, if I could predict the future, are the Equilhash coins; specifically named $Hush and $ZCash that use faster transaction technology like the new forks, allow only GPU/CPU mining for people power control, enable a Transparent address (T) and a ZKP secure ZkSNARKS super saiyan (Z) address, plus will be the first true end-to-end ZKP + TLS + TOR enabled P2P node and messaging system.

https://myhush.org/#features
https://z.cash/technology/index.html

This will allow for all peoples, governments, and corporations to secure their data and also notoriously disable the quantum decryption possibility on the rise. This technology will BOOM a new era of privacy and security for all peoples of the world. Enabling a true autonomous secure block-chain ledger that empowers each individual by only having one GPU/CPU.

This is our generation folks, lets build it together! Put your money where your fork is!

Open ∞ Source