Mercator Advisory Group has come up with a new research on the Bitcoin and the problems it could face in the future.
The research titled “How Many Sidechains Can Bitcoin Economics Support?” also has an in-depth study of the past issues that once threatened to put a stop to Bitcoin.
The study also explains the complex and intricate working of the blockchain and it also discerns the reason behind August 20, 2015, burnout which the research describes as the outcome of “external systems performing automated trading based on the value of the Bitcoin.”
It also offers advice to the business personnel who are interested in using the blockchain technology to seek answers for issues that are unrelated to the value of Bitcoin.
Tim Sloane, VP, Payments Innovation, and author of this report said that the “Bitcoin embodies social science associated with the behavior of the miners, developers, and others; political science within the voting process that determine future enhancements; economic theory which establishes the value of Bitcoin required to keep miners incented to mine for trust, and computer science that guides the software development, distribution, and management that keep this whole crazy Bitcoin ecosystem operational.”
He further stated that “this research note evaluates what