sábado, 18 de abril de 2015

Falling Bloomberg showed that #Bitcoin is the future / By @alexvallenilla


By Alex Vallenilla / @alexvallenilla

Last Friday servers Bloomberg fell. The world's leading provider of financial information in real time prices, charts, trading volumes, supply and demand, news, reports, and nothing, absolutely nothing could be seen, one hour before closing Asia and Europe beginning the day .

Bloomberg failure paralyzed markets in the world

This is an example of what is now obsolete information structure of global financial markets and systems of the purchase, sale and placement of orders, using intermediaries for decision-making on purchase and sale of financial assets online. While Bloomberg stood off, everything related to Bitcoin, which uses technology chain blocks, remained working normally.

Falling affected Bloomberg million transactions, an unpardonable fault, considering that there is already the possibility that these situations are avoided, if the chain of blocks and no central servers were used.

The basic problem is that Bloomberg uses its own servers, which to fail for whatever reason, left to drift to the market.

Bitcoin technology, which is based on network person to person, there is a central server. That would never happen with operations based in the chain of blocks, the same as using Bitcoin for money transfers instantly.

Bitcoin is possible because millions of users worldwide are interconnected, there is no centralized server suffers malfunctions, safe storage servers virtual currency, exchange operators in that Bitcoins are deposited and that the vast majority of Where are servants cold, away from hacker attacks, after the experience of Mt Gox.

Days ago, world bankers, investors and central banks are interested in Bitcoin, in its advantages. For many it is still said that Bitcoin is not safe. If the case of Bloomberg compared with respect to financial reporting, this depends on the editorial line of the site, which is respectable and very reliable, formed by the human factor that feeds it. But it would be different to be fed with objective information in real time, originating from every transaction made through the global interconnection, ie product summary or set of each operation, financial information would have much more precise and yes, verified and authenticated by the network itself, certified by that claim.

At the same time I would never have faults, as the main server would be the global network itself, impossible to fall, unless the entire structure of Internet worldwide fail simultaneously.

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