Bitcoin Needs Centralization to Scale, Says Northwestern University
Cryptovest
Published Aug 18, 2018 06:19PM ET
Updated Aug 18, 2018 07:20PM ET
Bitcoin Needs Centralization to Scale, Says Northwestern University
Research from Northwestern University suggests that there must be some kind of compromise between central banks and Bitcoin’s ecosystem. The Proof-of-Work protocol currently present in the cryptocurrency’s consensus model is serving as an obstacle to adoption because of the low transaction volume, according to the university.
“When you look at two networks like bitcoin and a central bank, one is centralized and one is not. If we want it [Bitcoin] to scale we have to compromise, which means we need to get to some level of centralization,”
said Sarit Markovich, clinical associate professor of strategy at Kellogg School of Management at Northwestern University.
We have already seen slightly more...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.