The biggest threat to Bitcoin at this moment
is the quantum computer it’s main purpose is to solve complex problems and maybe it’s
capable of finding lost private keys for Bitcoin and maybe even yours too, these computers
already exist. But if that happens, the Bitcoin core development team must take action and
come as soon as possible with a solution right? But the problem is, there is not just a team,
the project is open source and has multiple people contributing. A feature or a hotfix needs lots of reviews,
approvals, and time. But during this whole long process, lots of damage can be made if
keys start getting discovered. I don't say that Bitcoin is bad but there are issues you might want to consider and better solutions All being said, these are the first disadvantages. – development of features or hotfixes takes
long time – it’s not 100% secure, if hotfixes take
time, lots of damage can be inflicted in emergency cases.
Elrond tries to combat these issues by having
a core dedicated team of developers of course the project
is open source and anyone can contribute, but at least they got paid people to step
in. I don't think Satoshi will appear from nowhere
to save your coins when shit happens with Bitcoin. The next Bitcoin issues are the high transfer
fees and the limit of transactions per second. The transfer fees have even reached 50$ sometimes,
the average being about 7 to 10$, this will affect if you are a day trader. When we talk
about transactions per second, this is a huge factor in the crypto world. In the case of
mass adoption you want to pay your groceries as soon as possible instead of waiting 30
minutes for your Bitcoin to get transferred because the whole globe is using the network. Elrond to fix these 2 problems is using an
architecture which is named adaptive state sharding, they have managed to reach 263,000
transfers per second and super low fees.
I have explained this architecture and how it
works, and everything else about Elrond in the top right corner video, you need to watch
it so I don't repeat everything here. The next issue is the proof of work system,
aren’t you sick of the mining drama? Green energy, coal mines getting flooded, China
banning crypto mining since 2013 or whatever, all these events affecting the crypto price.
Aren’t you sick of all this? You can easily get rid of them with a proof of stake concept,
you stake your coins and you earn daily rewards, is that easy.
Yes, at this moment if Bitcoin
goes down, it drags the whole market down. But we all hope, one day this will get fixed,
maybe it will happen when Ethereum upgrades to 2.0, if it will ever happen lol. The next issue is growth potential, Bitcoin
has reached 60k, now is half of the price, on the other hand, Elrond reached almost 250$
and now is 80$. What would you pick 2x with Bitcoin or 3x with your money, bigger growth
potential with Elrond. Let’s not forget that the value of Bitcoin it’s now transferring
slowly to Ethereum and other coins. Another huge problem of Bitcoin, it’s just
digital gold, you can’t do anything else, but what do you think about a coin that is
digital gold but has also lots of real world use cases. Thanks to the flexibility of the Elrond network
and the ease of use, new opportunities and collaborations have been made. A new crypto use has been found, a way where
you can actually use your skills in order to earn coins.
Elrond has started a collaboration
with Saito. These guys have a website that runs web applications and games, their target
is to allow you to compete with other players in games to earn coins. Of course, the loser
of the game might lose it’s bet, but here it’s the trick, it all depends on your skills
and how good you are at that specific game in order to win it. No rigged slot machines that decide your fate,
no algorithms that will make you lose, no plugins or private APIs to affect you, it’s
just your skill and that’s it . This can easily advance into championships like ESL
or other competitions , there are always hardcore players, imagine 10 players that want to participate
in a game, putting down 1 egold each. The winner of the game will win all the 10 coins
and he won’t pay any taxes to the government because of the decentralized network, this
is just an example.
There are people playing games already on
the website, they got chess, poker, even something with strategy, this one is interesting to
me where you fight over the world and more other games. And one more interesting fact about this platform
is that, Saito runs without an owner while funding the nodes that provide routing and
user infrastructure for its own network and other public blockchains. All this is powered
by an entirely new blockchain design, they even got their own token called Saito obviously,
I don’t know anything about them so do your own research. I want to talk about the collaboration of
Elrond with Holoride which is maybe the best use case at this moment in the crypto market.
If you or your kids are having a boring ride
as passengers in the car that takes a long time, instead of them annoying you, they can
use a VR headset for games or educational journeys. We are getting closer and closer
to self-driving cars, so in-car entertainment will be a must in the future. Holoride hopes to use NFTs to incentivize
developers into creating more content on holoride’s platform for the promise of more money earned
off token purchases, and to attract passengers who want to personalize their in-car experience.
But I think it will be more than that, those are just my thoughts, with that platform customers
should also be able to pay you a monthly subscription in order to access your creations or it will
be one time by using Elrond or other digital currencies.
You will also probably be able to see the
NFTs you have in the 3d space, imagine being able to rotate the card or whatever you have,
and seeing it from all the angles, imagine the NFT being a pet that you can play in the
VR world, maybe something very similar to a rare pokemon. I think the possibilities are unlimited, look
at how expensive the pokemon cards are nowadays, they are collectible items now. Besides that
Holoride will be open to any car manufacturer, not just only Audi, they have managed to reach
75 million people.
Holoride has other partners like Mercedes, Porsche, Ford and some other,
so my expectations are pretty high, if you are concerned about motion sickness, they
said that this is not an issue. For the people who like to play call or put
options, AntiMatter partnered with Elrond in order to bring options to the world for
egold and other Elrond assets. The CEO said that this collaboration will amplify this
growth, bringing an influx of new capital and transactional volume. Some of you commented on my Elrond video that
there are some whale wallet addresses, so there is a risk of pump and dump. I have contacted
someone from the Elrond team related to this concern and I have received an image showing
what are the top accounts in the Elrond explorer. Most of them are staking pools, smart contracts
and exchanges, while others might be in the same category, they are very hard or impossible
to identify since they are anonymous, I hope this info and this video helped if yes please
like the video, and as I said check the Ethereum versus Elrond video, thank you for watching, bye bye.