Your Bitcoin (BTC) Public Keys May Be Disclosed by Countries. Here’s How
Brendan Blumer, co-founder and CEO of the Block.one team that produces EOS.IO open-source software, predicted the most significant aspects of Bitcoin (BTC) progress for the future.
Light pool, dark pool
Mr. Blumer is sure that if Bitcoin (BTC) continues its exponential growth, its network will host private chains managed by corporations. Thus, the bandwidth of the main blockchain would be saved as the transactions would go through these corporate chains.
If #Bitcoin continues to grow exponentially....
— Brendan Blumer (@BrendanBlumer) March 26, 2020
Single transactions will move to private chains, institutions will make #BTC management easy for the masses, and inter-company settlements will dominate the limited bandwidth of the main chain.
He also predicted the end of co-existence between ‘light’ and ‘dark’ Bitcoin (BTC) pools that serve legitimate and illicit activity funding, respectively. According to him, this split has already begun and these two pools ‘will eventually be non-fungible’.
Yuri MolchanKeys disclosure inevitable
This evolution won’t go unnoticed by governmental bodies and agencies. While creating a legitimate framework for the blockchain-based financial system,
Most countries will eventually require disclosure of all public keys, and failure to comply will result in taking your money off-grid on a permanent basis
In terms of development, the Bitcoin (BTC) protocol will be also subject to changes as it was in the past. Future forks may be inspired by chip manufacturers, miners and their supporters in state-backed bodies.
That said, Mr. Blumer is very far from Bitcoin (BTC) maximalist views since, according to him, the flagship blockchain is not able to give us every freedom we want.
Nevertheless, he considers cryptocurrencies ‘a big deal’ because they offer a ‘transparent store of value with provable supply integrity and self-empowering custody options'.
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