Note from the Publisher: Sadly, after we came up with that headline, we realized that potentially a signficant portion of our readership may not have the slightest clue what we were alluding to. So briefly, a long time ago in a galaxy far far away, when video players were just coming to the masses (long before DVRs and On Demand), there were two formats dualing for dominance. From MediaCollege.com….”Sony’s Betamax video standard was introduced in 1975, followed a year later by JVC’s VHS. For around a decade the two standards battled for dominance, with VHS eventually emerging as the winner.”
Now, there is another protocol battling against blockchain, although you wouldn’t know it from the amount of press (including from FintekNews) that blockchain receives daily, and it’s called Interledger.
“The past months have become a new chapter in the evolution of blockchain technology. Ethereum’s fork in the wake of the DAO hacks. Bitcoin’s almost-fork in the wake of the (still unresolved) block size debate. All of this is leading to the growing frustration and even disillusionment of key figures in the crypto-currency community.
I left the Bitcoin community in 2012 for very similar reasons. In 2011, I was part of the group that helped Gavin Andresen design the Pay-to-Script-Hash (P2SH) feature. The design wasn’t very complex, it was backwards-compatible and provided crucial building blocks for improving Bitcoin’s security and performance.”