Crypto Springs Conference Challenges Digital Asset Obstacles
According to Meltem Demirors, an organizing member of the Crypto Springs conference, the notion of decentralization does not truly exist. Her talk during the conference held in California’s Palm Springs, October 3rd, received much approval from the audience.
Decentralization Doesn’t Exist Yet
Unlike the majority of growing blockchain and crypto-focused conferences worldwide, this particular event was geared toward the open discussion of issues and obstacles within the crypto sphere. As Athena Capital’s founder and CSO of CoinShares, Demirors explained that the notion of decentralization exists, however, has failed to be correctly established so far.
Holding similar viewpoints, Jackson Palmer, the creator of the cryptocurrency, Dogecoin, described Bitcoin head developers as solving coding issues found in the token as a centralized approach involving undisclosed coordination with BTC miners. He also noted a major gap in information available regarding Bitcoin Core’s coding in addition to describing Bitcoin’s sphere as lacking language and programming variety.
During an interview with CoinDesk in which Palmer was asked why he believes crypto deployment within the retail industry remains rare, he replied that the token is not a market match, and that many remain uneasy about its adoption.
In another interview with CoinDesk, Matt Corallo, a member of the Bitcoin Core development team explained that boosting Bitcoin’s diversity will demand extensive work in order to sustain consistency throughout its intricate network in the best of scenarios. Other possible outcomes of such efforts may result in platform forks that ultimately restrict the token’s usability. However, a collective argument in which most event participants agreed to was that Bitcoin is in need of additional peer reviews.
Through the course of the crypto conference, attendees and talks discussed various options regarding the global effects of digital asset technology. Bitcoin developer Corallo’s participation in a conference speech will discuss the topic of mining and decentralization. Lightning Labs Chief Executive Officer, Elizabeth Stark, described corporations as the crypto sphere’s largest threat. In contrast, Jack Mallers, creator of a digital asset wallet, Zap, explained that as the market is yet to grow in maturity, he believes the establishment of financial products such as BTC exchange funds is more likely to occur compared to mass adoption by retail institutions. He also claimed that the emerging space for futures contracts may aid decentralized crypto mining and also play a role in facilitating the shift of finance-related risks to appointed speculators in order to help smaller members stay operational. Upon reflecting on the major entity bitcoin has become since initially developed nearly ten years prior, Mallers stated that the digital asset will either become a success, reaching the trillion dollar range of value, or it will completely crash to hold zero worth.