SoliSet

The decentralized networks will soon have a significant share of the Internet and, of course, in the absence of the central main server, the digital records of individual’s behavior are not stored in these networks. But as you might have noticed, this information is the essential fuel of Artificial intelligence and the storage of them can’t simply be ignored. If there is any concern about misuse, ignoring the issue is not the solution, but rather the mechanism for storing and processing digital records of individuals in decentralized networks must be completely personal

The electricity consumption of Bitcoin mining is really staggering. Cambridge University has recently launched an online system provides a real-time estimate of the total electricity consumption of the Bitcoin network and updated every 30 seconds. Usually, the yearly average of power consumption for all mining equipment is estimated to be between 50 to 70 terawatt-hours(TWh) per year. This figure exceeds the annual consumption of a country with ten million populations and costs billions of dollars. In this short article will show such significant cost is covering from what resource.

For more than a year, we are trying to get accurate and flawless transactions data at the moment of transaction occurrence in decentralized networks. Since, in this case, there is no need to produce multiple alternatives for a block at first and then the miners, by spending and massive power consumption and using of a variety of proof mechanisms, be able to choose to the valid and correct block.

If we skimmed through Bitcoin daily transactions, we quickly find that in one day, we rarely see Bitcoin transactions worth about $ 1 billion or more. For this reason, we can presume currently the sum of Bitcoin transactions worth about $ 600 million per day, on average. So, in one year $ 3.6 billion is spent just to transfer $ 216 billion. In other words, the actual transaction fee of Bitcoin should be about 0.0167 of the transaction amount.

The biggest achievement of smart contracts is that with the help of blockchain technology, they can only run independently their initial code. Since there is no possibility of human interference and tampering with functionalities or transaction results. But anyway, these contracts do not necessarily have the concept of intelligence or smart.

After filtering, the telegram cannot compete with its unfiltered rivals like WhatsApp in terms of speed and ease of use. Obviously bypassing the filtering has a negative impact on the internet speed and ease of use of an app. Also, circumvention tools sometimes reduce application security. So the reasons for the popularity of telegrams after filtering cannot be speed, convenience or security.

Smart Blockchain is the new generation of Blockchain networks that will allow one or more smart contracts to collect accurate and flawless data from the successful transactions of a decentralized network at the moment of transaction occurrence, and simultaneously storing and registering these data in new blocks. Smart Blockchain needs neither the financial institution nor intermediary, in addition, there will be no task to do for miners and block producers in this technology.

Bitcoin’s transactions, in addition to serious environmental damage, are much more expensive than conventional transactions. But users pay directly only a small portion of the miners’ fees as a transaction’s fee. A large portion of their remuneration is paid as a miner’s award. These new Bitcoins have an inflationary impact on the Bitcoin market, and indirectly all the Bitcoin holders are paying for it, but practically, no one pays attention to this part of the cost.

When Facebook launched its Messenger, the contents of this Messenger was placed in the dark side of the Facebook social media and it got out of reach of Google’s crawlers and other search engines. Now Telegram Messenger needs to do exactly the opposite, and expose part of the contents of its public channels to Google crawlers and the rest of the search engines. Since channels with millions of members, are considered social network but not a part of a messenger.

The fact is, Bitcoin’s current state of affairs cannot continue for too long, and “Smart Blockchain” is a good way to rescue bitcoin and transform the blockchain technology. This method can solve all the problems and limitations of Bitcoin, and at the same time, Bitcoin will still not be dependent on any financial institute and bank.