In defense of crypto(currency)
Article

In defense of crypto(currency)

Matthew Green
CryptographyEngineering, 2022
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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • For Experts

Recommendation

Blockchain detractors fail to consider the business advancements that it has already made, says cryptographer Matthew Green in this full-throated response to crypto critics. While he admits that crypto could use some improvements in coin mining, privacy, cost and other features, Green finds the assertion that the technology holds no promise to be dismissive and short-sighted, and he points to evolving technological developments that could transform blockchain in business. Both crypto enthusiasts and skeptics will find this an enlightening read.

Summary

Dismissing blockchain and crypto as commercial tools ignores their potential.

Some critics of blockchain label it “a solution in search of a problem.” In their eyes, crypto technology should be regulated, if not scrapped outright. 

But consigning blockchain and crypto to the trash heap of technology would be an injustice, given the progress made since 2015 to overcome their most consequential deficiencies.

Advancements in ledger technology are on track to resolve blockchain’s four most significant drawbacks.

The most frequent objection to crypto is that its...

About the Author

Matthew Green is a cryptographer and a professor at Johns Hopkins University.

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