Journal Entry: Shane Andrew Smith-03/31/2024

Journal Entry

Lesson 31: Altcoin Recap

Critical Thinking Response:

I believe by created a solid foundation of algorithms that ensure scalability, security, and decentralization, altcoins can allow for the increase and improvements of each of these as they grow and add more user/throughput/transactions/computing power, but it all starts with a solid foundation.

Just like the answer above, I believe that any user added to any platform/altcoin/exchange must be properly vetted UP FRONT with extension proof of identification, legitimate funds, legitimate business, before they are given any access to the platform.

I believe the challenge that energy efficient focused altcoins will have is how to obtain the energy efficiency (green energy, green hydrogen, renewable energy, access to the grid, reliability of the grid) as they grow in users and transactions that require more and more energy for the computing power.