Tezos to Launch Speed and Scalability Solution ‘Marigold’

On February 4, 2019, Tezos announced Marigold, a layer-2 scaling solution for the Tezos coin. The project aims to ensure that more developers have an easier experience with the Tezos platform.

Compromise

There is a constant balancing act with regards to various blockchain networks. For example, there are some coins that value scalability more than anything else and might sacrifice privacy as a result. Similarly, there might be privacy coins that put anonymity above all else, but as a result, suffer when it comes to speed. There are all sorts of projects that emphasize or uphold certain principles whilst compromising on others.

Tezos has just announced that it will be introducing Marigold, a layer-2 scaling solution for Tezos (XTZ). As a result, it is clear that the project will be focusing more on scalability and speed, rather than censorship resistance.

About Tezos

For those that might be unaware, Tezos is a smart contract platform that many have compared to Ethereum. The project is marketed as a blockchain that can “evolve by upgrading itself”, meaning that stakeholders can actually vote on protocol amendments. The idea is that Tezos will become a platform to create decentralized applications, hence the Ethereum comparisons.

While it might not have the same exposure as other coins out there, it maintains a sizeable market capitalization of around $220 million as of press time. It is ranked #23 in the world in terms of cryptocurrency market capitalization as well.

The Marigold Announcement

The announcement of Marigold occurred on February 4 in a Medium blog post. Marigold was based on Plasma, which is a concept set forth by Ethereum co-founder Vitalik Buterin and Joseph Poon.

The main idea behind Plasma is to increase the scalability and usability of blockchain so that it can handle any operation, specifically to a significant amount of “updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide”.

First and foremost however, is the idea that developers will be able to build out applications quickly and efficiently. Marigold will also allow for integration with Javascript for example, so that developers do not have to worry as much about a “learning curve” with regards to the Tezos platform. The idea is to “reduce the barriers to innovation” so that more developers can build a wide range of applications on the platform.

Tezos to launch speed and scalability solution ‘marigold’

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Published at Fri, 08 Feb 2019 21:00:59 +0000

October 29, 2017

Big Investors are Making Big Money with Bitcoin

bitcoin’s base of supporters is growing and increasingly pouring money into the cryptocurrency ecosystem. Now, this base is attracting financial giants, who are becoming familiar with bitcoin’s value and perceiving its fantastic potential. As a result, they are seriously starting to invest in the cryptocurrency. For example, Bill Miller is successfully investing a third of his hedge fund’s capital in bitcoin.

Once a Successful Stock Market Investor, Now a Successful bitcoin Investor

Bill Miller

Influential investor Bill Miller managed a portfolio that beat the stock markets for the period 1991-2005. Now, he is also making lots of money with bitcoin.

According to a Wall Street Journal report, Miller has invested 30 percent of his fund’s assets in bitcoin. Notably, he bought bitcoin when it was $350 USD. As of this writing, bitcoin’s price is above $5,900 USD.

Among its $2.3 billion in assets is a $154 million hedge fund, MVP 1. The fund is up 72.5% so far this year, Mr. Miller said in an interview. It has about 30% of its assets in bitcoin, he said, up from about 5% in 2016.

Famed value-fund manager Bill Miller is bullish on bitcoinhttps://t.co/l7xXl5h8pE via @WSJ

— Jason Zweig (@jasonzweigwsj) October 27, 2017

https://platform.twitter.com/widgets.js

Miller expressed his optimistic views about bitcoin, saying:

I believe there is still a nontrivial chance bitcoin goes to zero, but each day it does not, that chance declines as more venture capital flows into the bitcoin ecosystem and more people become familiar with bitcoin and buy it.

Some Old-Time Investors Still Remain Unfamiliar With bitcoin

As more people become enlightened with the virtues that bitcoin offers, the number of cryptocurrency enthusiasts is growing exponentially. However, many big-time investors remain uneducated about the cryptocurrency. And fearing the unknown, they resist change and keep on being skeptical.

One notable example is the magnate Warren Buffett, who is ignoring the potential of bitcoin and remains unconvinced about bitcoin’s amazing qualities. Indeed, he is unable to appreciate bitcoin’s value. Hence, he mistrusts it.

Recently, addressing business school students, Buffett said, “You can’t value bitcoin because it’s not a value-producing asset.” Then, he referred to bitcoin’s spectacular upward trend as a “real bubble in that sort of thing,” MarketWatch reported.

It is not the first time that the Oracle of Omaha has failed to see the potential that innovation and new technologies can offer. In fact, one of the problems that has affected Buffett’s decision making has been his unfamiliarity with and lack of interest in technology.

For example, Buffett previously failed to appreciate the potential of technology and social media stocks, such as Google and Facebook. Now, Buffett recognizes that excluding technology stocks in the Berkshire Hathaway’s portfolio has been one of his worst mistakes.

While discussing his failure to buy Google, at the time Google’s founders approached him to participate in the IPO, he admitted failing to act due to his ignorance. In this connection, Buffett said:

And so I had plenty of ways to ask questions or anything of the sort and educate myself, but I blew it.

Buffett also explained missing the opportunity to buy Amazon, by saying that he had been “too dumb.”

More Familiarity with bitcoin will Change Negative Perceptions

Warren Buffett

Granted, there are financial tycoons of the caliber of Warren Buffett and Saudi Prince Alwaleed bin Talal who will resist change and technological innovation. However, many other big names in finance and industry are becoming cryptocurrency enthusiasts. For example, Bill Gates, co-founder of Microsoft, is excited about bitcoin. In 2014, Gates declared, “bitcoin is better currency.”

Likewise, Steve Wozniak, co-founder of Apple, is excited, believing that bitcoin is better than gold and the mighty US dollar.

Perception about the cryptocurrency is rapidly evolving, as reflected by bitcoin’s soaring value in the financial markets. And, as education in cryptocurrency reaches multi-billionaires and their inner circles, their resistance to bitcoin will decrease. Consequently, many of them, such as Bill Miller, will start to see and profit from bitcoin’s amazing potential.

What do you think will be the impact when the world’s wealthiest people become more educated about bitcoin? Let us know what you think in the comments below.

Images courtesy of Shutterstock, Wikimedia Commons, and Miller Value Partners

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