The general arguments for a successful distributed cryptocurrency are as follows:

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1. Open-source software: A core and trusted group of developers is essential to verify the

code and possible changes for adoption by the network.

2. Decentralized: Even if it is not fully distributed, it is essential that it is not controlled by

a single group of person or entity.

3. Peer-to-peer: While the idea is not to have intermediaries, there is a possibility of pools

of subnetworks forming.

4. Global: The currency is global and this is a very positive point and workable for

financial integration with or without smart contracts among the parties.

5. Fast: The speed of transaction can be faster and confirmation time can be shortened.

6. Reliability: The advantage is that there is no settlement risk and it is nonrepudiable.

The savings in cost of a large settlement team for financial activities can be potentially huge.

7. Secure: Privacy architecture can be better designed incorporating proof of identity with encryption. If that is done, the issues surrounding Know Your Customer/Client (KYC) and anti-money laundering and terrorist financing (AML/TF) will be resolved.

8. Sophisticated and flexible: The system will be able to cater to and support all types of assets, financial instruments, and markets.

9. Automated: Algorithm execution for payments and contracts can be easily incorporated.

10. Scalable: The system can be used by millions of users.

11. Platform for integration: It can be designed to integrate digital finance and digital law with an ecosystem to support smart contracts with financial transactions. Customized agreements can be between multiple parties, containing user-defined scripted clauses, hooks, and variables

Other interesting insights

https://read.cash/@Mikitrabuu/how-bitcoin-works-dda6f65e

https://read.cash/@Mikitrabuu/merits-and-demerits-of-bitcoin-73599264

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