Without any doubt, advanced technology has changed the entire world in multiple ways. One of the newest inventions is blockchain technology that has made the business functioning of different industries easier and more comfortable. However, as you know, blockchain technology is mostly associated with cryptocurrencies.
But, that won’t mean a lot to you in case you are not familiar with that subject a lot. It is not the point to have a lot of money and invest it in Bitcoin and other altcoins. You need to constantly improve your knowledge and skills to reach the level of professionalism that will bring you money.
One of the ways to improve your skills is to attend blockchain and crypto conferences that are organized in different parts of the globe. Many of them will be organized by the end of this year as well, so we would like to share a few more words about them.
The most notable highlight of the first day of the eighth installment of CoinGeekConference held at The Sheraton Hotel Times Square in New York City from October 5 to 7, 2022 is when centerstage was given to Stuart Haber and W. Scott Stornetta, who are considered to be the fathers of the concept of blockchain.
Stornetta and Haber co-authored the paper “How to Time-Stamp a Digital Document” in 1991, which was followed by a second paper and patents that laid the foundation for the concept of blockchain upon which Bitcoin is built on.
“It made me realize what the world was going to be like 10 years down the road, say 20 years down the road. I realize that everything is going to be in digital form, and there’s going to be no way to tell an authentic or original document or record from something that was modified just milliseconds before it popped up on your screen.
And I thought, this is not going to be good. We needed a world where we can trust the record without having to trust an authoritative figure,” Stornetta said as he explained why he was so obsessed with developing a system that provides integrity to records without relying on a trusted third party.
“We wanted a setup that is registration, certificate and verification mechanism that did not rely on trusting a single entity, did not rely on assumptions of system security, and also relied on as few cryptographic assumptions and personal trust assumptions as possible. And what we came up with is the distributed system of records, now commonly referred to as the blockchain,” Haber added.
Haber and Stornetta went on to co-found their own company that became the first to offer digital timestamping services in 1995. Three of Haber and Stornetta’s works were cited in the Bitcoin white paper and the third section was devoted to how the solution proposed to verify transactions and prevent double spending without a trusted party “begins with a timestamp server.”
The panel that closed Day 1 of CounGeek Conference New York with an enlightening discussion about the roots of Bitcoin and blockchain also included creator of the Ricardian contract and financial cryptographer Ian Grigg and Bitcoin white paper author Dr. Craig S. Wright, who used the pseudonym Satoshi Nakamoto in his ground-breaking work.
Grigg also used Haber and Stornetta’s earlier concept of blockchain when he created the Ricardian contract in 2004, which is defined in its simplest form as “a document defining a type of value for issuance over the Internet.”
“What Scott and I were addressing, how to timestamp a digital document, how to ensure the integrity of bit-strings, was only about bit-strings…. You can’t ascribe truth, assertions about the world to strings of bits. What the Ricardian contract does is attach semantics, attach meaning—human social meaning—to strings of bits,” Haber pointed out.
This is the true beauty of blockchain—anyone can use it and build on it to create something new and different that will benefit more people. And this is exactly what BSV, which has been found to be the best implementation of the original Bitcoin vision by the recently published MNP report, has accomplished through unlimited scaling.
“You know, you throw your hat into the ring. You create something that is available to everyone, and people have brilliant ideas that create enormous value as they build on top of prior works. So, I don’t want to take any credit you’ve away from that. It’s an incredible leap what’s included in the Bitcoin white paper building up from that [prototype] blockchain,” Stornetta said.
Bonus Tip: Other Methods to Improve Your Crypto Knowledge
After you read some useful pieces of information, we would like to make one more step before finishing this article. As mentioned, conferences are only one way to improve your knowledge about crypto. We would like to highlight some other ways of skill improvement that you can use to trade like a pro. Let’s find them out together!
Surround Yourself with Professionals
Well, spending more time with crypto experts will certainly help you develop appropriate trading skills. For example, you can subscribe to a course or simply connect through business networks (LinkedIn for instance) with individuals that are willing to share their knowledge.
Some of them will do that for free while others will charge for this sort of service. Don’t hesitate to spend a bit more money as investing in knowledge is an investment that pays off always!
Use Trading Tools
The purpose of this article is not to promote crypto trading tools. However, they can certainly raise your chances of earning money.
These programs are supported by AI technology that sends you alerts and notifications. The notifications often contain tips on when you should sell or buy particular crypto. Finding them is a problem; just use Google to read reviews before subscribing to any of them.
Fortunately for you, the 21st century is an era of technology. By basic Google research, you can find a bunch of useful pieces of information for free. That is the reason why we strongly recommend you read everything you can about blockchain technology as well as all the cryptos that are using it. Finding out more details and getting familiar with the features of different cryptos will help you understand which one meets your expectations the most.
If Reading is Boring – Use Videos!
Unfortunately for the entire planet Earth, the reading habits of people are pretty bad. That is probably the main reason why you delay your improvement process. As a beginner, you will probably get confused by a bunch of professional terms related to cryptocurrencies.
Because of that, watching videos is going to be a much more effective way of learning. You will feel like someone is directly talking to you. However, despite vloggers, you can also check out different interviews where 2 or more people discuss the features of all crypto.