Bitcoin Has Three Major Flaws, According To Cornell Economist
Bitcoin continues to trend lower in the daily chart. After losing support in the $37,000 area, BTC trades at $35,540. The main cryptocurrency by market cap has been on a downwards trend since May 2021. When the bears take over the price action, there are events that occurred with certainty. For example, Bitcoin critiques start […]
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Cornell University professor of economics and former head of the IMF’s China division, Eswar Prasad, sees three major flaws in bitcoin. Because of these flaws, the professor says that “bitcoin really has set off something of a search for a better alternative.” Cornell University’s Professor of Economics Outlines Bitcoin’s Flaws Cornell economics professor Eswar Prasad talked about bitcoin’s flaws in an interview with CNBC Thursday. Prasad is the Nandlal P. Tolani Senior Professor of Trade Policy and professor of economics at the Charles H. Dyson School....
A Cornell University professor of computer science who has proved to have a knack for pointing out flaws in blockchain code believes the hard fork that occurred earlier today is a sign of maturity for the ethereum platform. Last month, Cornell's Emin Gün Sirer emerged as a major critic of The DAO, the project whose failings ultimately led to the hard fork, pointing out vulnerabilities in its code and becoming the go-to source for ethereum coders looking to understand what exactly happened and how it could be avoided again. Though he’s still quick to point out that unforeseen....
A Cornell University economics professor says that President Joe Biden’s executive order on the regulation of cryptocurrency could benefit the industry. “Ultimately what these sorts of regulations provide to the industry is legitimacy,” said the professor. Cornell Professor on Crypto Industry Benefiting From Biden’s Executive Order Eswar Prasad, professor of economics at Cornell University, shared his thoughts on U.S. President Joe Biden’s crypto executive order and what it means for the industry in an interview with CNBC, published Thursday. Prasad is....
Ethereum itself seems to be flawed according to the latest developments on the DAO Hack. Philip Daian, a researcher at Cornell University’s Initiative for Crytocurrencies & Contracts, just presented his latest findings on the hack, concluding: I would lay at least 50% of the blame for this exploit squarely at the feet of the design of the Solidity language. This may bolster the case for certain types of corrective action. I refuse to lay the blame exclusively on a poorly coded contract when the contract, even if coded using best practices and the following language documentation....
Ethereum is now the second major cryptocurrency from the last bull run to break its former all-time high. One author and economist, however, claims that this is only the beginning of the top altcoin following in Bitcoin’s footsteps, and will soon rally to $20,000 mimicking the epic 2017 bull run. Here’s the theory behind the lofty price target more than 10 times the current price per token. Economist Estimates The Long Term Value of Ethereum […]