Entry Submitted by Mid Mess Fair at 11:16 AM ET on July 30, 2022
All The Cryptocurrency Blockchain Will Collapse Because They Only Use The Block But Not The Chain
The current blockchain technology are quite new and still in the demo version stage in my opinion.
All the current cryptocurrency such as Bitcoin, Litecoin, Ethereum, etc. will collapse and be replaced by new digital currency with much better technology.
The weakness of all the current cryptocurrency is their technology only using the “block” feature, not yet fully use the “chain” feature.
That’s why you people need to download big data size (dozen to hundreds gigabyte) in order to fully running the software.
So what will be a better blockchain version?
It must have 2 type of nodes: the important nodes and the optional nodes.
The important nodes will store the important information which is the account ID and the currency money balance only. While the optional nodes will store any other information such as transactions, mining, etc.
The reason is people only need to know the balance number, while the rest are just the optional and can be found when needed it.
Imagine the data size of only few billion account ID + currency balance, it should be less than 1 gigabyte. How easy for user to download the software and using it ?!
I have shared a similar version of crypto 2.0 structure few months ago in other website with the similar idea like above.
I can design and start any new blockchain cryptocurrency project that easily defeat all the current one on the market. But since I am not get funded and not interested in so I won’t touch.
The information above is for those people who needed.
But if anyone who put big bounty to buy new idea/solution about working mechanism or data structure, then I can spend time and help them when I am free.
Mid Mess Fair
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