Hey everybody, welcome to a brand-new chapter of BLOCKCHAIN CENTRAL. This is the first episode in our line aiming to explain why we still haven't seen a mainstream be adopted by Blockchain technology. In this week's firstly episode, we'll look at the projects with the most difficult predict so far and look at the main roadblocks to ratification. In the following incidents, we'll break down the issues of scalability, governance and financing. ---INTRO--- For the past several years, all blockchain enthusiasts--including our squad here on the channel--have been talking about the benefits of adopting DLT engineerings into multiple mainstream functionalities. I'd even go beyond that and say that many of us ought to have foreseeing a blockchain revolution. Yet, times go by and we still haven't seen any mainstream success of these new technologies that promised to change the nations of the world as we know it.

Why is that? First of all, let's characterize mainstream success. I think what is really required is a Facebook or Amazon level of success: a solution that is so useful and disruptive that it becomes a household name globally. We're all hoping for an blockchain app or a service that supplements so much value that it becomes a blueprint for success for the companies to come. Let's start by looking at the projects that had the most difficult promise of living up to the DLT hype. Then, we'll try to find a reason why they haven't been a mainstream success. Arguably, the most promising campaigns include Ethereum, Augur and the Lightning Network. I'm sure that the inclusion of Ethereum involves no explain; the promise of a decentralized, autonomous world-wide computational platform is like a very attractive hypothesi. The thing with Ethereum of course is that it's more like operating systems; it's not appealing without a really powerful, ground-breaking and favourite app. Imagine an iPad without its apps; most people wouldn't have any use for it.

Some argue that an app that would fulfil the potential of Ethereum is Augur. Augur is a decentralized protocol that allows for peer-to-peer decentralized prediction markets. These groceries can be used to place bets on future incidents. Of route, a single person making a prognosi wouldn't be very effective. But if you aggregate knowledge from a diverse kitty of experts, you're very likely to build the right projection. Grocery players are incentivized by being rewarded for the remedy prophecy. What's important, it's not only a forecasting implement, but could also have a viable financial part by allowing everybody is fence against risks.

If you want to learn more about prediction markets, make sure to check this video. It all glances exceedingly promising, but in February 2019 DappRadar reported that Augur had recently 47 useds and only 122 events in the past 24 hours. So, what's preventing it from proceeding mainstream? Apart from a few reported issues with the app right after start, it can't be denied that Augur itself asks a specific degree of technical knowledge. Too, according to some investigations, the issue with Augur is more serious than simply being user-friendly. Due to the volatile rate of Ethereum, it is difficult to anticipate Augur becoming a serious hedging implement. Ironically, the Ethereum-to-fiat conversion would introduce too much unpredictability into the prediction busines. On pinnacle of that, most people once have access to established hedging tools which offsets the use occurrence for Augur a bit shaky. Another possible candidate for mainstream adoption is Bitcoin's Lightning Network. It is not a fully separate blockchain, but instead an add-on to the existing Bitcoin blockchain. Its purpose is to promote faster micro-payments without overloading the central blockchain. It sounds like a great sentiment and the underlying structure of the system has been praised by experts.

So, what's their own problems? Harmonizing to various reports, the network has been buggy to the phase of users losing money. Countless parties justify the bugs by Lightning still being in beta but, until it's fully realized, we won't know if it can become the mainstream answer we were looking for. So, what needs to happen for us to ensure a mainstream be adopted by blockchain engineering? Arguably, the biggest benchmark is the underlying technology being completely invisible to the end user. Even though DLT is often described as a beautiful patch of engineering, most customers don't really help. It's a bit like what's going on with Snapchat face filters: we hear that it's a marvel of augmented world, but we only charge if they drive and are easy to use. It could seem like a reasonably easy stunt to reach, but because blockchain is still a young technology and developers have to focus on overcoming technical predicaments , not enough endeavour can be devoted to realise the subscribers know easy and fun.

The second fundamental questions with mainstream success is scalability. Fortunes are that, even if a murderer app sounded and grew successful, scalability publishes would lead to a breakdown once too many consumers started to participate in the system. We'll analyze scalability in detail in a follow-up occurrence so make sure to subscribe to the direct. The second important is why we haven't seen mass approval is the sheer number of projects. There are too many blockchain mixtures and altcoins that has already rivalling for our courtesy. What's more, most of them are composite, hard to understand and are struggling with various technical issues. In addition, it's not helping that some of those projects turn out to be defrauds or disappear without a trace.

Which draws us to our next object: bad PR. With so much theatre were linked to ICO swindles, gush and dumps and general sell volatility, it is difficult to convince the mainstream public to get invested in these new technologies. In fiat for this to change, regulatory conformity has to improve. But now, we face another internal conflict. Conformity would require a certain height of centralization and oversight matters, as well as giving up a certain level of privacy. The DLT technology, in its unusually call, is constructed to counteract centralization aims and its supporters are almost allergic to that word. Too, due to the world reputation of DLT, it might feel like our present partitioned world-wide is not ready for a truly international be applied in blockchain. If even an proven tech monstrou such as Google is struggling with copyright laws in the European union countries, what chances does an emerging, intrusive engineering have? This theory of being ahead of its time is likewise relevant to one more appearance of blockchain development: many forward-facing answers depend on the success and development in other areas of technology.

One example could be IOTA and the Internet of Things. If you want to see our occurrence on that, click here. So where is the breakthrough coming from? I bid I knew ... My prediction would be that it will come from an locality we do not expect. If I were to bet on it, I'd say that big adoption will stem from services that are introduces cost to the users without requested to be to provide any money input. Such a service--similarly to Instagram or YouTube--would have an alternative highway of producing income from the sheer sizing of the increased customer cornerstone. It could be gaming or dating apps. It could also be copyright, where immutability, public access and smart contracts could clearly benefit the population. One space or another, I have a feeling we're about to find out.

Many beings predict that 2019 will be the year of mass following. Fingers swept! Before you go, please note that this content neither represents monetary, law, or duty suggestion , nor is it supposed to be understood or interpreted as solicitation to buy or exchange any certificates, coppers or signs. Thank you so much for watching. If you liked this video, make sure to reach that like button and don't forget to subscribe to Blockchain Central to never miss a trounce! Recognize you in the next one!

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