Andreas Antonopoulos Talks Bitcoin and Blockchain’s Main Key Performance Indicators (KPIs)

As the field of blockchain and cryptocurrencies continues its quest towards global adoption and use of the revolutionary technology, education on the …
Andreas-Antonopoulos-believes-focus-on-the-blockchains-solution-is-the-main-key-performance-indicator-KPIAndreas-Antonopoulos-believes-focus-on-the-blockchains-solution-is-the-main-key-performance-indicator-KPI

As the field of blockchain and cryptocurrencies continues its quest towards global adoption and use of the revolutionary technology, education on the key concepts in the industry is key. Top cryptocurrency personalities are increasingly opening up the technicalities involved in the technology making it easier for the mass population to understand it.

In a MOOC on MSc. In Digital Currency from the University of Nicosia, Andreas Antonopoulos, a crypto influencer and open blockchain expert, speaks on the alternative uses of blockchains. The Q&A session highlights the overview of popular alternative cryptocurrencies and their functionalities; such as Ethereum, Monero, Bitcoin Cash and the differences between public and private DLT networks. Furthermore, Andreas speaks on what constitutes Key Performance Indicators (KPIs) in blockchains.

One of the questions asked is on the recent proposal by Vitalik to introduce gas fees on the wallet transactions. The question reads,

“What do you think on the proposal by Vitalik [Buterin] to introduce gas fees on the wallet transactions?”

In his response, Andreas clarified that the proposal is voluntary and will not require a consensus to introduce it to the blockchain. The key word is “common practice” and not as a general rule to the Ethereum protocol. Bitcoin’s blockchain has a similar practice where some of the wallets donate a small fee of the transactions made to the wallet developers.

“What Vitalik proposes is to make this [gas fees on wallet transactions] a part of the best practices acts to ensure the development of wallet software is better funded.”

The Bitcoin enthusiast further also addressed questions asked in his previous sessions and the current session. One of the session members asked a question on the KPIs on blockchains and what indicators we should use. The question reads,

“Should we consider code commits, blockchain activity, number of DApps, or a number of peers as key performance indicators (KPIs)? What are the metrics for success?”

In his response, Andreas suggested that the KPI you choose depends on what you are trying to achieve. For example, a trader, developer and an interested party in blockchain technology may all have different metrics to measure the progress of the blockchain. It depends on whether the digital asset is being held for long term investment or part of your portfolio in the short term.

He further says that the metrics are difficult to measure and different persons can have different views on the measurements. He offered an example on the common metric where a huge investment during the ICO is equated to an interesting and revolutionary technology. He says,

“For me, the blockchain that has the most money invested into it isn’t necessarily the most interesting blockchain. If that blockchain is centralized and owned by a bank, of course it has lots of money invested into it…however, this is not what makes it have the most freedom, the most political empowerment or economic inclusion to people.”

He concluded saying that most metrics are hard to measure and people in the community should refrain from using metrics in the field to bash other projects. The selection of a metric based on the overall stance of the community or a biased opinion should be avoided. Blockchain KPIs are not a zero-sum game as most investors tend to believe. Selecting a blockchain that actually solves your problem should be the key metric whether you are a dApp developer, trader or user.

For more on the MOOC by Andreas follow the video below.

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Antonopoulos: Transactions Fees Help The Crypto Industry Develop Quality Wallets on Time

His answer was that the idea, which was created by Vitalik Buterin, the co-founder of the Ethereum blockchain, was to propose this fee to the ETH …
Transactions-Fees-Help-The-Crypto-Industry-To-Release-Well-Developed-Wallets-on-Time-Andreas-Antonopoulos-AffirmsTransactions-Fees-Help-The-Crypto-Industry-To-Release-Well-Developed-Wallets-on-Time-Andreas-Antonopoulos-Affirms

Andreas Antonopoulos, a famous Bitcoin advocate who wrote some important books about Bitcoin, has recently been talking about the importance of cryptocurrency fees. While many are around spreading misinformation about the market, Antonopoulos is often teaching people how the industry works.

Now, he has decided to start a Massive Open Online Course (MOOC) in which he showcased some alternative uses for the blockchain technology and talked about how the popular technology works, as well as explaining its main functionalities.

The seminar also had a Q&A session, so he took his time to answer questions from the public. One of the viewers then asked about the idea of imposing “gas fees” on wallet transactions as a way to fund the developers.

Antonopoulos Defends Gas Fees For Transactions

His answer was that the idea, which was created by Vitalik Buterin, the co-founder of the Ethereum blockchain, was to propose this fee to the ETH community in order to fund the development of wallets. The fees would not be an imposition, only a slight voluntary fee that would help the devs. Other wallets, he explained, give the users the option to make small fee donations.

Why does it? Because you have to pay in order to get quality, this is why. Antonopoulos explained that most wallets were available for free and that some of them relied on advertising in order to survive.

With the help of these fees, people would certainly be able to develop better wallets, as they often struggle with money. It would not mean much to users, but it would mean a lot to the developers as they could actually upgrade their products.

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British Baroness’ $325 Million Luxury Bitcoin Development Suffers Delays

Her £250m ($325 million) condo development in Dubai that would be sold for bitcoin is on hold. Government officials who’ve visited the site of what …

By CCN: Scottish lingerie tycoon and parliamentarian Baroness Michelle Mone seems to be stuck in a second failed crypto venture. Her £250m ($325 million) condo development in Dubai that would be sold for bitcoin is on hold. Government officials who’ve visited the site of what The Sunday Times calls a “bitcoin bolthole” say construction has stopped.

Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. But the development remains stalled at 25% complete since last January, according to the developer’s website and promotional materials. The £250m development was advertised to be completed by this summer but nothing’s moving.

Sunning day. Hope you are all enjoying this beautiful weather. Global Business announcement coming soon #athome#equicapital#blockchain#entrepreneur#business#businesswomanpic.twitter.com/l4ONWXiO4g

— Lady (Michelle) Mone (@MichelleMone) June 24, 2018

Baroness Mone’s EQUI Coin Flop

This bitcoin condo development was as unrealistic as her last attempt to break into the crypto industry. A year ago, she sought an $80 million ICO for a startup investment clearinghouse disguised as a cryptocurrency. She hyped it as the “bitcoin of Britain” even though it is really nothing like bitcoin and raised only $7 million.

Bitcoin made an earnest and shockingly effective attempt at creating a payments and banking solution. EQUI is a blockchain back-end that’s been shoe-horned into a startup investment clearinghouse platform. Bitcoin is open source, public, and raised computing power to maintain and secure its network. EQUI is propriety, corporate, and raised money.

EQUI was not “the bitcoin of” anything. It was another example of corporate marketing hype over substance, and that’s why it failed.

Bitcoin & cryptocurrency is here to stay. I predict Bitcoin will reach $100k in the next 18 months https://t.co/OfiqBUQoxg

— Lady (Michelle) Mone (@MichelleMone) January 13, 2018

Baroness Mone Should Lean In; She’s Onto Something Despite Missteps

Obviously a very smart and tenacious woman, Mone advanced from trying to compete with bitcoin in her first venture to trying to acquire bitcoin with her second. That represents a fundamental strategic shift in her view of the crypto industry. It evinces the realization that bitcoin presents far more lucrative and substantive opportunities as a truly competitive merchant currency with an unmatched network effect among cryptos.

But instead of studying and making a useful contribution to the bitcoin industry, Mone again shoe-horned bitcoin into a foreign condo development project. So she’s pursued the strategy twice now of exploiting bitcoin hype to raise money by appearing to be working in the crypto business while not actually doing anything in the crypto business. This is the kind of corporate exploitation that Andreas Antonopoulos warned about in many talks.

Corporations will mislead the public. “Forget about bitcoin – we’re using its underlying technology, blockchain” goes the familiar refrain. But what they’re doing isn’t anything like bitcoin. Doesn’t have bitcoin’s salient characteristics. Doesn’t even attempt to solve the problems that bitcoin solves.

Now with Baroness Mone after bitcoin instead of another blockchain fake coin, we’ve seen another phenomenon Andreas Antonopoulos has described: infrastructure inversion. Amazing this is an example of it happening within a few years within the same entrepreneur’s crypto ventures. This industry is growing up fast.

Andreas Antonopoulos Compares “Bitcoin vs Blockchain” Debate is Akin to “Facebook vs Net …

“Bitcoin vs Blockchain is exactly the same as Facebook vs the open internet infrastructure.. People say that we are very excited about open-internet …
Andreas-Antonopoulos-Says-Bitcoin-vs-Blockchain-Debate-is-Exactly-Like-Facebook-vs-Net-NeutralityAndreas-Antonopoulos-Says-Bitcoin-vs-Blockchain-Debate-is-Exactly-Like-Facebook-vs-Net-Neutrality

Andreas Antonopoulos is an educator by profession, an avid Bitcoin bull, and a seasoned Bitcoin user. Antonopoulos has also written a handful of books on various topics concerning crypto space.

Antonopoulos is considered as one of the more reliable voices in the decentralized ecosystem. Recently, he sat down for an interview with Youtube channel “Singularity Web”, where he presented his views on various topics and recent controversies with Bitcoin.

The interview started with the most cliche Bitcoin interview question, “Why Bitcoin, given the present banking systems have kept up with the technological change over the 50 years?

However, Antonopoulos responded with statistics to begin his answer, he explained,

“Only 15% of the human population actually has access to banks… Hence, the privileged cannot imagine needing the system… But its there… Think about South America… People, there are not happy with their economy or Government… Countries with inflation problems”

The interviewer then asked Antonopoulos about his views on the current “Bitcoin vs Blockchain” debate, whether he agrees with the recent views of certain analysts and financial institutions who say Bitcoin and cryptocurrency might die, but its the underlying blockchain technology that would win the long terms race.

Antonopoulos seemed to have a separate view than the majoritarian belief, he said Blockchain is just about the secure database which is possible to distributed ledger available universally for anyone to verify. He went on to add that blockchain technology on it own won’t gurantee immutability and trust. It is only through possible use cases like Bitcoin which enhance the DLT and add Proof of Work over it to bring immutability and trust in the system.

Antonopoulos also has a pretty interesting take on the current “Bitcoin vs blockchain” argument and gave an analogy whiich many of us would remember for quite some time, he said,

“Bitcoin vs Blockchain is exactly the same as Facebook vs the open internet infrastructure.. People say that we are very excited about open-internet and Facebook is the internet, isn’t it? No, it’s not.” He added, “Facebook is a centralized, control infrastructure.. It is a terrible argument for many reasons.”

Antonopoulos is One of the Truest Bitcoin Bulls

He emphasized his argument, because he believes that Bitcoin has done wonders for bringing independent peer-to-peer cashless payment network into the mainstream which has eventually helped many developing nations like Venizuela and other South American nations to come out of their financial distress brought upon them by crony capitalism followed by their respectiive governments.

However, Bitcoin with all its usps lack of one very important aspect, which is privacy. However, Antonopoulos believe the second generation layer of Bitcoin with Segregated Witness (Segwit) and Lightning Network (LN) is working towards addressing those issues as well.

He went on to add,

“Bitcoin has continued to work like a Heartbeat.. producing a block every 10 minutes for the past 10 years… It provides independence, empowerment, neutrality, borderless operation and open access.” He also added that “the fact that it is still there is the real testament to the robustness of the technology.”

Antonopoulos has seen all the cryptocurrencies starting from Bitcoin, and now looking at the progress that the crypto space has made despite the fact that many centralized financial institutions called it a mere bubble and even a ticking time bomb waiting to burst. The same institutions have come around to not only offer crypto services into their system but JP Morgan, the biggest Bitcoin basher has launched its own stable coin in the form JPM coin.

Antonopoulos says Bitcoin has been the pioneer of the crypto space and it would be the ultimate digital token to achieve the status of the daily driver whenever the time comes. He said that Bitcoin will win the long term race, no matter how other altcoins believe to be superiors be it centralized blockchains like Ripple or even forked coin like Bitcoin Cash. He implores that greed and investment in Blockchain is only the tip of the iceberg, and one must use and experience the technology before giving in to speculation and short-sighted thinking.

1 BTC/USD =$5,271.0249 change ~ -1.16%

Coin Market Cap

$93.08 Billion

24 Hour Volume

$3.71 Billion

24 Hour VWAP

$5.3 K

24 Hour Change

$-61.2893

More and more analysts believe we will see BTC at $10000 by end of 2019

… by fellow crypto enthusiasts, like the head of Fundstrat Global Advisors, Tom Lee, and billionaire founder of Galaxy Digital,Michael Novogratz.

This months unexpected Bitcoin pump has revived the crypto market and given life and rise to a new bullish sentiment from all over the cryptoverse. More and more crypto analysts feel that we could indeed see BTC at $10,000 by the end of 2019.

Traditional stock trader turned Bitcoin investor, Anatoly Radchenko, had a sit down with Ivan On Tech’s crypto-focussed Youtube channel, where he said that he agreed with the bullish sentiments by fellow crypto enthusiasts, like the head of Fundstrat Global Advisors, Tom Lee, and billionaire founder of Galaxy Digital,Michael Novogratz.

Radchenko pointed out that more likely than not, Bitcoin had found its long-term floor at $3,150, adding that the bottom could very well be in.

The Russian analyst stated that most likely new highs won’t be on the horizon for Bitcoin this year, neither will there be a 2017-like bull run in the near future. He added that by August, just three months away, Bitcoin might reach $7,000, which is a 30% increase from current levels.

He doesn’t rule out that it is possible for BTC to drop down to $5,000 from there, but by the end of the year, he thinks Bitcoin could very well see the $10,000 price mark.

According to the head of Fundstrat Global Advisors, Tom Lee, Bitcoin will top $10,000 before the end of 2019.

Lee has been showing much positive sentiment as of late, including the moment where he called the end of the bear season, telling Bloomberg that bitcoin was ‘now in a bull market.’

2/ The main takeway is that BMI reaching 67 is further evidence the bear market for Bitcoin likely ended at $3,000

— Thomas Lee (@fundstrat) April 11, 2019

Max Keiser in the meanwhile, took it one step further when he tweeted to his 221K Twitter followers that Bitcoin’s ATH at $28,000 is still in play and that the $100,000 price mark for Bitcoin, his target since 2011, is still on the board as well.

The base #Bitcoin built during the bear market has set the stage for new ATH. $28,000 still in play. $100,000 (my target since 2011) is still good.

— Max Keiser, tweet poet. (@maxkeiser) April 8, 2019

2019 so far has been positive for the crypto markets, and if we can believe these crypto experts, more of that positivity is on the way.

Key levels: if Bitcoin breaks $5300, this is the upside! Subscribe to the Chepicap YouTube Channel for more videos!


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