The proponents of the cryptocurrency space have always been responsible for informing the larger crypto-community about the latest developments in the ecosystem and have played a huge role in answering queries related to the technology. One of the major examples of a crypto luminary lending a helping hand is Andreas Antonopoulos, the author of Mastering Bitcoin and a major Bitcoin bull.
In his latest video, Antonopoulos answered questions about the effects of blockchain technology in various fields, mainly focusing on its effect on the Internet of Things [IOT] and its use for selling power. He was first asked if blockchain could be used to solve the glaring problems in IOT, to which he answered:
“I am quite skeptical about using blockchain technology in IOT devices. The thing is I do not know what the benefits are and how it would be different from using a dedicated IOT database. What are the benefits really, I don’t know.”
The Bitcoin bull was of the opinion that technologists may be able to use a public decentralized blockchain in a way that it maintained the information, which can be changed in the future, in the database. This feature could be attributed to the blockchain’s ability to access information at any point in time without being tampered with.
“A lot of people use the term blockchain to address something that is effectively a database that does digital signatures. Even more are going to mash the term IOT and blockchain together to generate some new solution but that is not how it works. These are some of the few reasons why I am very skeptical about integrating blockchain technology in areas where it is not required.”
The Bitcoin proponent was also in the news recently when he explained the reasons behind unknown block versions being mined.