Ari Paul: Schnorr Signatures, Taproot And Fidelity Will Improve The Crypto Market
Few people who really understand Bitcoin and the blockchain technology can affirm that the crypto space did not spark a revolution in how we see the world. For instance, the crypto market is far more than just a bunch of digital assets. What it is, in fact, is all about decentralizing the world, especially in the financial area.
Ari Paul, one of the managing partners of Block Tower Capital, has decided to talk about the market and its potential for decentralization recently. According to him, there are some fundamental changes happening today. He listed some of them talked about how they would be a part in decentralizing the networks around the world if they worked out.
He affirmed, for instance, that one of the largest developments that happened recently was linked to Bitcoin, the top token of the market. With the addition of technologies like Taproot and Schnorr Signatures, the functionalities, the efficiency and the privacy of Bitcoin have been upgraded.
Another important figure in the market, Andrew Poelstra, the lead researcher of Blockstream, has also talked about the benefits that can be brought by the Schorr Signatures technology. According to him, the new update would be very useful in order to make all the transactions as secure as possible because it would enable multiple signatures.
According to the man, more signatures would mean that the participants of the network would not be revealed, giving more privacy to Bitcoin as people would stop to be so easy to track as they are now. You do not even need to be with the authorities to track people these days, you simply need to be savvy with the technology, the information is all out there.
Paul also talked about how some platforms like Omniex, Tagomi, FalconX and Coinroutes are growing fast recently and how they could help with global liquidity in order to make it run more smoothly when there is more capital in the market.
He talked about how there is a huge presence of middlemen in an industry which vowed to be against them, which can be considered at least somewhat ironic. These middlemen, however, are helping, in his view, since they let the traders spent less money when they are making transactions.
Companies like Fidelity and Anchorage were also cited by him. They will be important for institutional investors and will outline a major validation of crypto-related assets. He believes that these companies might grow to be like trusted custodians.
It is better, after all, to surrender your keys to companies that cater to big investors than some random exchanges. While some of the crypto community do not like the centralization caused by other people holding your keys, at least this kind of company will be trustworthy.
He also talked about how the Ethereum ecosystem is creating solutions that will possibly be used in helping people to become their own banks. This way, they will be able to turn this thought into a more practical reality soon.
This innovation, in his opinion, is what is set to completely change the market. Almost everything of what exists in the blockchain market today did not exist ten years ago. The market is moving very fast, so how will it be in another ten years?