After a Decade of Bitcoin, the Next Wave: Stochastic Crypto-networks
Have you heard of... The blockchain? Cryptocurrencies? Digital currency Exchanges? Miners? Tokens? Smart contracts? ICOs? STOs? Blockchain applications? Jobs in the blockchain industry? None of the above would exist without a crypto-network infrastructure that securely exchanges transactions, guarantees the reliability of the network and the integrity of the replicated data (the blockchain). This technology, introduced by Bitcoin, is now ten years old. The original goal of Bitcoin was to create a secure method of trading among peers using a currency that could not be controlled by any person, company or institution. It was then discovered that the blockchain concept it employed was extremely useful for many applications. However, current crypto-networks providing a blockchain infrastructure, including Bitcoin itself, have morphed into networks that rely on special intermediate nodes. In addition, the established crypto-networks are limited, costly and cannot support the ...