New consensus algorithms will evolve to change what we currently have. Proof of Work and Proof of Stake may be the current trend, it may not last long until the new ways of consensus algorithms adapt to the new trends.
Who is leading the economy?
We are currently heavily reliant on energy to move our economy forward. Energy is an essential power. It used to be a power from animal or water or diesel or gasoline or battery or solar to many other forms. However, when the digital economy has formed, the engine to move the digital economy can be different from influencers to celebrities.
Social media marketplaces
If you assume the future economy will be driven by social media influencers, you may want to try algorithms that put influencers on the driver seats.
PoI: Proof of Influencers
Influencers are new careers for social media users. They not only can promote themselves, but they can also help to promote products for companies. They are alive marketing tools and more effective advertisements to reach out to millions of followers. Using influencers’ power to make the blockchain work can be another effective way to push economic growth in different directions that rely on the interactions of users.
Downside of influencers
Influencers may promote products only due to profits driven. They may solely promote products if companies pay them the most. Even though influencers may drive the market, users may need to watch themselves out before trusting them.
Security is everything from now
Cryptocurrency is all about security. Its existence is because of unhackable characters. However, when a computer advances with its power and its calculation capabilities, it is possible to catch up with the speed and crack the currency code built to encrypt the important information. If crypto is cracked, it will become worthless.
Threats from the quantum hardness
Quantum computing in theory can perform at a fast speed compared to traditional computers and crack the currency cryptography within a feasible time. Quantum hardness will threaten not just cryptocurrency but all existing computer security. It will make all security worthless.
Ideas of Post Quantum Algorithms
The idea is that some algorithms will run on classical computers or supercomputers to prevent quantum computing from cracking the code.
PoR: Proof of Randomness
One of the possible quantum resistance solutions is to make blockchain as pure random as possible so that the quantum speed may never catch up with it. It will make blockchain live and learn with the change of environment at all times similar to artificial intelligence (AI) did.
There is no hard evidence to resist quantum hardness
Even though there are many “solutions” to claim quantum resistance, there is not any evidence to prove that it is actually working. Quantum computers are decades away from being commercially available. It is good to work alone to prevent the worst but hard evidence still requires to prove such technology feasible.
In conclusion
No matter how the future May becomes, crypto will continue evolving and become its better version to adapt to the change of the future.
Photo by Fábio Lucas on Unsplash
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
