Bitcoin v Litecoin

The Bitcoin blockchain started with a genesis block on January 3rd 2009. A couple of years later on October 7th 2011, Charlie Lee, a former Google employee, started the Litecoin blockchain, inspired by Bitcoin. It is an alternative cryptocurrency to Bitcoin and was created with a couple of intended improvements.

The first noticeable difference is the block creation speed. In Litecoin, blocks are created every minute or two, due to requiring less computational work than Bitcoin.

Secondly, blocks are created using a different so called consensus algorithm than Bitcoin. Litecoin uses a Scrypt algorithm that is intended to be more memory intensive than the hashing function used by Bitcoin.

In terms of dollar value, one LTC (the common “Ticker” abbreviation for Litecoin) is worth approximately $250 and by market capitalization (the total amount of Litecoin in existence) it is currently ranked 5th, with Bitcoin far ahead in 1st place.

A brief look-through a handful of transcations within a Litecoin block explorer reveals that the transaction cost of sending a Litecoin on the main chain is around 1 dollar, significantly less than Bitcoin currently (around $40). Additionally, Litecoin has implemented the so called Segregated Witness enhancement, which increases the number of transactions that can be included in a block, and allows so called offchain or sidechain transaction using the lightning network.

Litecoin is clearly here to stay, and IMO will remain amongst the top few cryptos out there, due to its proven staying power (6 years and counting) and its similarity to Bitcoin

Cryptocurrency and Capital markets

Nice interview discussing cryptocurrency and capital markets. Ari Paul also gives an interesting view of crypto as a strong hedge opposite fiat currencies.

https://epicenter.tv/episode/202/

The BA works for IT?

Usually the Business Analyst works for either for the IT department or some form of Project Management office, or as part of a software consultancy. A question I asked myself recently was, is this they way things should be. The classic idea of a business analyst is as that all important connection and facilitator between business and IT.

Doesn’t the BA being connected to IT bias the analyst towards creating ‘software team friendly’ changes, i.e. prioritizing or championing changes that are easy to implement, or that make sense from the viewpoint of the development team?

In a webcast by the Agile coach Mike Cohn, he stresses the importance of balancing the forces of IT and the business to create the perfect environment for implementing well prioritised, valuable software change. If one or the other has too much influence and power, this creates an unfavourable environment.

The BA is a key role in understanding the needs of both sides, and to facilitate discussions, even if they are working under the IT department or PMO umbrella.

One Bitcoin same value as one ounce of gold

A couple of years ago I thought how amazing it would be if one bitcoin was worth more or less the same as one ounce of gold. Well, this week this came true, with the dollar value of bitcoin reaching all time highs.

http://www.coindesk.com/price-bitcoin-now-worth-one-ounce-gold/

Property Registration on blockchain

One of the most promising POCs going on at the moment in the blockchain world is the idea of registering and transferring assets, including property and home ownership. The goal is to make the process more efficient, cheaper for participants in the process, and more transparent.

Bitfury, known primarily for it’s mining capability, is partnering with the government of Georgia, to develop a Proof of concept

One of the key use cases for blockchain technology involves situations where there are multiple independent parties, and a need to record the ownership and transfer of assets or value where it would be very beneficial not to have a single source of truth. The high levels of corruption in the managing of property in Georgia make it a very good candidate for Blockchain.

 

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