How the 5G Network Will Affect Bitcoin

Guest Author | February 27, 2015 | 7:52 pm

How the 5G Network Will Affect Bitcoin

Guest Author | February 27, 2015 | 7:52 pm

The 5G network is aiming to do wonders for the technology field, and many bitcoin enthusiasts are asking, “What does this mean for the blockchain?  Will the world of digital currency be affected in any way?”

The quick answer is “yes.”  For one thing, the newest 5G network is claiming to be about 100 times faster than the current edition, meaning downloads will be a lot quicker.

According to Professor Rahim Tafazolli of the University of Surrey in the U.K., the new 5G network will run at a speed of approximately 800Gbps.  That’s equivalent to about 33 high-definition films being downloaded in less than half a second.  They should have called this the Superman network.

For bitcoin users, they no longer need to be left in the dark regarding the status of their funds or certain updates.  Transaction confirmations are slated to be uber fast, and the entire blockchain can be downloaded in about a minute or less.

Furthermore, by 2020 about 50 billion devices are expected to be hooked up to the 5G network as part of the integration of the Internet of Things, which many believe will revolutionize data, communication and technology as a whole and bring a movie like “The Terminator” and the machine-building defense computer Skynet closer to reality.

Bitcoin 5G Network Newsbtc

Devices “hooked in” to the 5G network will be able to choose one of three different bandwidths to avoid frequency overload.  Once this occurs, more devices can be created.  For bitcoin users, this means stronger wallets, apps, pretty much everything.

And of course, the 5G network is said to be “unbreakable,” which means that there will never be any drops in communication.  This is also excellent for bitcoin and blockchain enthusiasts, who are likely to encounter uninterrupted transactions and regular alerts without issue.

With all this set to occur within the next five years, one has to wonder, “What will happen when the 6G network emerges in 2040?”

Image Courtesy of Google Images

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NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

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