Monday, December 22, 2014

Crowdsales Funding Innovation By Bitcoin And Its Community

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Bitcoin as an industry is becoming segregated by ideology, technology and application. There are different groups that argue for differing directions and methods of growing adoption. Within bitcoin today there are three distinct groups with their own definitions of what Bitcoin is.
For example, bitcoin miners argue that bitcoin is a payment system where adoption is driven by bitcoin transactions reflecting its use as a digital currency. This is largely based on their function in the ecosystem, as miners serve as a distribution mechanism for introducing new bitcoins into the network, while also being responsible for managing the bitcoin transaction records that make up the blockchain.
Conversely, those involved with bitcoin 2.0 like Counterparty and Mastercoin, whose interests involve developing protocols and use cases on the blockchain itself argue that bitcoin is a platform for decentralized development. To their point, we have seen several implementations of the bitcoin blockchain successfully used in this manner.

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