While possibly not as well-known as Satoshi Nakamoto, the name Dan Larimer is a familiar one in the cryptocurrency market. Larimer has been described by some as a visionary, and is most famous as being the creator of the EOS blockchain technology, which is intended to be entirely decentralised and have a transaction processing speed of several transactions per second. Larimer also created the digital currency based social network and blogging site Steemit, as well as the decentralised digital asset exchange, BitShares.
In short, he has been heavily involved in blockchain technology and altcoins since 2014. During this time he has shown a remarkable propensity for predicting the future, particularly as it pertains to the world of cryptocurrency. With a background in computer science, Larimer’s supporters say that it is his knowledge of human nature, as well as economics and technology, that enable him to come up with such accurate predictions.
Here are just four of the developments on the digital currency scene that Larimer has predicted:
Larimer didn’t predict Bitcoin but he was one of the first to take notice of its potential, way back in 2010 when he was first looking for his own digital currency solution. He predicted that it would become the standard for altcoin usage, despite having several major limitations… it’s safe to say he was right on that one.
One of those limitations concerned micro-transactions, something for which Dan believed Bitcoin was not appropriate in its architecture at the time. He was proven right, with Bitcoin being too volatile a currency to justify its use in this arena, with its validation process being too rigid for such tiny transactions to be worthwhile.
Dan predicted that cryptocurrencies must stabilise if they are to find a use and application in the wider world. If the recent spike and slump in Bitcoin’s value, along with the attendant panic over a possible altcoin bubble, is anything to go by, it is apparent that he saw this one coming too.
Larimer predicted the scalability issues which have recently plagued Ethereum, restricting its expansion into larger markets without fear of crippling its blockchain.
Will Larimer continue to predict the future of cryptocurrency? Who can tell… apart from him, obviously?
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