The Bitcoin educator recalled that the pioneering cryptocurrency’s protocol is based on a system of rules without rulers. He fears that governments and institutions will eventually curtail the decentralized protocol.
Andreas Antonopoulos recently received an invitation to reflect on the essence of Bitcoin. He stressed that its true value is that it is a system that offers humanity an equity protocol without intermediaries. He recommended remembering that Bitcoin arose when the justice of traditional monetary systems failed thousands of people globally.
The renowned Bitcoin evangelist highlighted the value of the equity protocol embedded in Bitcoin. To understand this equity protocol, it is necessary to know that a protocol simply consists of a series of agreed steps. In this particular case, it serves to organize results in decentralized systems. Participants in these systems typically understand that they can only win when everyone wins.
Taking that principle as a starting point, they will no longer need to apply justice when someone violates the rules. On the contrary, it will only be necessary to respect and enforce the protocol to maintain equity.
According to Antonopoulos, the Bitcoin equity protocol is the innovative way to use Proof of Work as a consensus algorithm that miners use to validate transactions. If workers try to cheat under this method, they will lose money. Therefore, as long as everyone complies with the rules, equity will be a part of the protocol.
The reason for this is that revolutionary qualities of the foremost cryptocurrency bring, to some extent, freedom to citizens who live under dictatorships or those who suffer from the excessive control of governments, families, or environments.The pioneering cryptocurrency’s equity protocol has allowed societies to counter many problems that arise from centralized systems, which fallible and easily corrupted authorities and institutions abuse.
The Essence Is To Defend the Protocol
Antonopoulos believes that there is still a lot to do because of the emergence of new equity protocols based on those that people have known for 11 years. An example is developments such as the Lightning Network, where two participants can collaborate without having the opportunity to steal coins from the person who processes payments.
Atomic swaps are another alternative that ensures that two people can trade cryptocurrencies without anyone being able to cheat. There are other developments, but his task as a Bitcoin advocate now focuses on defending the protocol. That is especially relevant now, when many people are turning to Bitcoin because of its market capitalization or its price is rising permanently, without valuing the essence.
Andreas Antonopoulos has been one of the most important and recognized Bitcoin evangelists. He has published hundreds of educational videos on the pioneering cryptocurrency, and written several books on Bitcoin and other cryptocurrencies. His role as an educator and expert has earned him a significant reputation in the community.
By Alexander Salazar
