Bitcoin may just be paving the way for other cryptocurrencies to take over the space, according to one industry expert -- just as Myspace did for social media years ago.
Jonny Dubowsky, Cyberneticist and Blockchain Architect, told Cheddar that, as a digital currency, Bitcoin’s technology is too convoluted and time consuming, and investors are noticing.
“It costs one hundred dollars to send a transaction; it takes 45 minutes,” he said Friday. “As we find that Bitcoin isn’t meant to do all of the things that we’re trying to do with it...maybe the secondary blockchain protocols will help us make this useful for everyday consumers who shouldn’t have to know how to unlock this very deep learning curve.”
Smaller players such as Ethereum and Ripple have been gaining momentum and market prominence. While Bitcoin is up 42.5 percent in the past month, Ethereum has grown about 61 percent. And Ripple, which briefly surpassed Ethereum as the second biggest token Friday, jumped 35 percent in just 24 hours.
Dubowsky told Cheddar that other platforms will surpass Bitcoin as consumers gravitate towards easier-to-use technology.
For now, though, Bitcoin remains at the top. It accounts for 40.7 percent of the market, with a market cap of $247 billion, according to CoinMarketCap.
For full interview [click here](https://cheddar.com/videos/how-blockchain-can-transform-healthcare).
Uber missed analysts' projections for earnings per share and revenue this past quarter. Cheddar News takes a closer look at the numbers and explains what to expect for the rest of the fiscal year.
The Air Force is asking Congress to restrict further construction of the towering wind turbines that have edged closer to its nuclear missile sites in Montana, Wyoming, North Dakota, Nebraska and Colorado.
The PlayStation 5 Slim will be reportedly released on Friday.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
Elon Musk's company XaI has announced a new chatbot called Grok.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Elon Musk is making a big prediction about artificial intelligence and the jobs market.
Apple posted better-than-expected profit and revenue in the latest quarter but said sales dropped for the fourth straight quarter, including a drop in revenue for iPads and iMacs.
Actress Scarlett Johanssen accuses Lisa A.I. app of using her likeness in ads.
