Liveblog: Metadata in the Blockchain: The OP_RETURN Explosion

21.02

As a parting shot, there’s a sign off from Adam Cleary, the organiser, and what he wanted to achieve from the event.

20.24
Last question before we call a halt and hit the bar.

Fantastic questions from the crowd at the event.Must be the beer. pic.twitter.com/9b4QEMQ3kN

— Cryptocity (@crypto_city) April 30, 2015

20.19

We’re about to wrap. Go to Coinspark.org for what they actually do. Someone seems to want a telephone number, which seems against the spirit of the thing.

20.16

I’m having trouble keeping up with some of this. I’m sure it’s great stuff though.

20.10

Some countries may have their own blockchain but there will be one dominant chain – this will be the one backed by the most miners. In 10, 20 years time, we’ll still be using bitcoin, according to Gideon.

21.05

More questions. Gideon reaffirms his hypothesis: Key to the blockchain is the ability to add extra data to a transaction.

21.04

We’re in bitcoin prehistory, right now. Bitcoin miners could form a cartel like OPEC to set the price by controlling supply.

20.00

We’re into the questions. One of the punters causes a stir claiming bitcoin is a gimmick. The value lies in the blockchain.

19.57
CoinSpark promises to be completely decentralised so there’s no disasters should the company go under. It also wants to make it user friendly, so even normal people can use it. At least that’s the goal.

19.53

We’re also tweeting like fury.

Bitcoin 2.0 and OP_RETURNs – The Blockchain as TCP/IP? http://t.co/5dlH9OhMqi #Bitcoin

— Hiroshi Shimo (@hiroshi_shimo) April 28, 2015

19.51 Oh dear, Gideon warns he is getting more technical. We’ll do our best to keep up.Here’s him trying to break it down for us.

19.47Bitcoin recipients are transaction outputs but they have authenticity unlike email. Notarisation over the blockchain means contracts can be proven.

19.40 CoinSpark allows more reliability with legal backing for transactions. Not that the legality has been tested yet in a court but Gideon is optimistic.

19.35 We’re moving into the CoinSpark protocol in the second half of the half. We’re taking a more technical turn. The later versions can attach messages to bitcoin transactions.

19.28 There is a call to ask whether bitcoin inventor Satoshi Nakamoto is in the room. But it seems the illusive genius is out with Hugh and Julia somewhere else. Has someone checked the pub?

19.26 There’s more than one answer to what bitcoin can be good for thanks to the blockchain. Here’s Gideon in action.

19.09 “A brilliant technology that was overhyped. So what is bitcoin for?” The answer is it’s a communication medium.

19.07 “Something has gone wrong with the bitcoin dream,” he warns. “We’re now in a trough of disillusionment.”

So there’s the bad news.

19.03 Simon Taylor from Barclays is kicking off here in Notting Hill although there is still no sign of Hugh or Julia. Barclays are offering desk space for bitcoin ideas here and in Old Street (obviously). Gideon Greenspan, CEO of Coin Sciences Ltd has started…

18.43 Excellent news: we’re inside, there’s beer and wifi. The wifi is courtesy of Barclays Bank and I’m not sure whom to thank for the beer. Barclays are partnering the event and their splendidly bearded Simon will be introducing the event. 

He promises a 60 second intro: we’ll be timing him.

By Manisha Jha and Jon Stibbs

We’ll be blogging from the Coinscum event tomorrow evening. Gideon Greenspan, CEO of Coin Sciences Ltd, will be presenting.

We’d love your involvement so please pass on your questions and we’ll post the response.