I was recently talking to a German start-up that was in an accelerator programme. They are building a product which is a distributed database that they are proposing will have efficiency benefits over companies which keep their data on their own centralized database. They talked about leveraging the computational capacity of different computers in the company to increase efficiency. From what I know about distributed computing, it is more inefficient than having a centralized architecture. Are there scenarios where it provides some efficiency benefits and is this being applied?
For “normal” currencies there is usually a sign (e.g. $ , €) and a code (e.g. USD and EUR) to denote that a number is a monetary value. Depending on your locale setting the sign can be written before or after the amount (variously) and the code (correct me if I’m wrong) can be written strictly only on one side or the other. For example, in Sweden we write 10€ and 10 EUR but in the UK they write €10 and EUR 10.
My question is: how it should be treated in the world of cryptocurrencies? Those currencies don’t have any symbols, only codes (depends on how you see it). Should they be treated as “real” currencies and have the code placed depending on localization? I’m confused because I’ve never encountered any situation where it’s written ETH 10 instead of 10 ETH.
I’ve been wanting to know if withdrawing other cryptocurrencies into a bitcoin paper wallet would be incompatible with that system. I haven’t tried it myself.
The more various opinions we hear about Cryptocurrency, the more we realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases, people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases, their negative conclusions simply sound like scam, deception and other “demonizing” statements.
I think this phenomenon spreads around fairly fast.
We at Bitssa.com believe that it is about time that people will start realizing the importance of the use of cryptocurrencies as a fast and convenient method of transferring money. In layman’s language, the reference to hysterical phobia is simply the fear of the unknown. The terms like mining, trading, ICOs or lending are alien concepts to people. Education about advanced technologies such as the blockchain technology is the need of the hour. Remember about two decades people showed the same hysterical fear when the hype of internet boom was at its peak. People were scared to do online transactions with banks. But it was only with time that people realized that their lives were made easy due to the advent of the internet age. Similarly, the day is not far when people will incorporate cryptocurrency as a part and parcel of their day-to-day life and replace it with fiat currency. For more info. read bitssa’s blog section.