A number of critical flaws associated with existing blockchain protocols and popular digital currencies nevertheless prevent widespread adoption anytime soon. Churyumoff, who studied at the National Research Nuclear University MEPhI (Moscow Engineering Physics Institute) from 1991 to 1997, first came into contact with blockchain technology back in 2014. It hopes to showcase the benefits of distributed ledger technology (DLT) that is unencumbered by issues related to mining blocks and high energy usage. Despite the hype regarding asset valuations for digital currencies, there remain considerable obstacles preventing mainstream adoption by governments, blue-chip companies and individuals alike. Obyte is nevertheless among those who envisage that ledgers without blocks and miners will help pave the way forward towards mainstream adoption and participation for future generations.

Source: Forbes February 28, 2019 16:30 UTC