In the past, there were various approaches to solving the scaling problems of crypto currencies such as Bitcoin. This led not least to Bitcoin’s hard fork with the result of the new Bitcoin Cash – does this solve the scaling problem? Prof. Sebastian Faust from the RUB presented current research on this topic. Various forms of payment channels, including the lighting network as one of the best-known examples, could greatly improve scalability. The current amount of seven transactions per second that can be processed by the Bitcoin network requires a drastic increase in order to be competitive with payment processors such as VISA and suitable for the mass market. The Perun Network presented in the presentation is a kind of implementation of the payment channels. The corresponding white paper has already been published and the developers are working on the implementation.
CryptoPay – Credit cards made easy?
Credit cards that can be charged with crypto currencies, but can be used everywhere (also for Fiat purchases) – there seem to be a lot of providers for this at the moment. However, CryptoPay promises to set itself apart from the competition by overcoming the regulatory hurdles. For further financing, CryptoPay also wants to collect money via an ICO – 10 percent of the company profits are to be distributed via the token, 51 percent of which CryptoPay sells to investors.
Lamium – a decentralized Bitcoin Exchange?
Exchanges for crypto currencies are usually centralized – a feature that is often undesirable for users. Lamium wants to offer users a special, largely decentralised payment service. This is intended to enable users to pay each other’s bills. If a user, for example, wants to sell Bitcoin, he pays his amount in Bitcoin, the buyer of the Bitcoin then pays the seller’s invoice in return. Bitwala, who were also on site, have been working on the solution for quite some time, but are paying the bills themselves – a point of criticism that Lamium expressed during the presentation.
LAToken – Digitizing Assets via the Blockchain?
At first glance, the optimal use case for the technology seems to be to output assets via the blockchain. This view is also shared by LAToken (for Liquid Asset Token) and wants to collect money via an ICO to implement the project. Although the concept refers to many asset classes, the real estate sector was the most important use case. Thus LAToken enters into competition with projects that have also dedicated themselves to the real estate market with the blockchain, such as Atlant or REAL.
Fake News – How can blockchains help?
Fake news seems to be spreading particularly rapidly in recent times and can have serious political consequences, for example – a problem David Mondrus wants to address. The platform should make it possible to outsource research tasks and pay participants to check the correctness of news. When an editor reports on a topic, the information is also validated by external participants. These, in turn, are remunerated accordingly via their own token. There was criticism in the audience about manipulative interventions, which could still be possible. If a politician wants to mark actual fake news as valid in his favour, he could achieve this with many fake accounts – but would have to create them very early and participate as a participant over a longer period of time in order to achieve a high scoring.