- The success of Bitcoin Cash is undeniable among many users and operators, and the hard fork that allowed better use of crypto-currency as currency and gave more agility to operations may have been a determining factor in Bitcoin's rise during that semester. closes within a few weeks. Although doubts about the acceptance of the Bitcoin community may put future market success as a mystery, there are three more forks that should be out before the end of the year: Super Bitcoin, Bitcoin God and Platinum.
- In addition, Bitcoin Diamond has already been released, while Bitcoin Silver and Uranium are still without a release date and Bitcoin Cash Plus has been postponed to January.
- A good example to understand this fork concept is that of Bitcoin Cash (BCH). Launched on August 1 of this year, its creation process involved duplication of all existing BTCs, causing duplicate parts to be called Bitcoin Cash. It brought ease of purchase, transaction speed and consequently for everyday use.
- Bitcoin Cash has been developed to solve a scalability problem that the BTC presents in the network. While the BTC does about 7 transactions per second (tps), the fork uses peer-to-peer technology to accelerate this effectiveness by up to four times.
- While the original Bitcoin network blocks have a size of 1MB - which allows for a speed of 3 transactions per second - Bitcoin Cash fork blocks can reach 4 MB. Bitcoin Diamond (BTD), released in November, theoretically has blocks that can go up to 8MB. In addition, BTD blocks would be generated five times faster than the BTC.
- Forks seek to generate more value to the bitcoin community by attracting new users and increasing confidence by offering technological upgrades and less astronomical prices to the average user. In any case, they still do not count on the consensus of the bitcoin community, something essential for the idea to avenge.
- Bitcoin Diamond, will hardly be a force like Bitcoin Cash, which has brought improvements in relation to what it can offer the community in terms of current use. "
It is very foggy the proposal of that fork. "Whether it's increasing block size, or increasing transaction capacity, if his network is going to get faster, none of this is still clear. We need to keep track to see what the developers' intentions are about Bitcoin Diamond.
The December forks
- Super Bitcoin is the first hard fork to be released this month, scheduled for Friday (15), was anticipated for last Tuesday (12). Generated from block 498,888 of the Bitcoin network, the fork is an effort by Chinese developers to "make Bitcoin great again".
- To do this, it seeks to optimize transactions with the currency from the Lightning Network technology and reediting the idea of Bitcoin Diamond to create blocks with up to 8MB. It will have a total of 21,210,000 units, of which 210,000 are pre-mined.
- For the CoinTelegraph (goo.gl/tQ6C9C), the developers said that they sought to create the fork in line with current discussions within the user community and that they are testing the fork. Analysis on the one hand may increase uncertainties about this "experiment", but on the other hand it retains some room for optimism for the future in terms of technological improvements.
- Another Chinese effort in the same direction is due on the 25th, and it is even more pretentious. Instead of a "super" Bitcoin, we will have something divine: Bitcoin God (GOD).
- Guo assured that the hard fork is not a joke, but that it chose the date to be symbolic within the Bitcoin community and to dialogue with its "saving" pretensions. Guo's tone does not inspire much confidence.Two days before the birth of GOD is also scheduled to launch the Bitcoin Platinum - which should leave block 498.577 of the blockchain. On 2 January Bitcoin Cash Plus. Two other forks that are still unpredicted are Bitcoin Silver - which promises an even more decentralized currency - and Bitcoin Uranium, similar to Super Bitcoin.
- In addition, Bitcoin Diamond has already been released, while Bitcoin Silver and Uranium are still without a release date and Bitcoin Cash Plus has been postponed to January.
- A good example to understand this fork concept is that of Bitcoin Cash (BCH). Launched on August 1 of this year, its creation process involved duplication of all existing BTCs, causing duplicate parts to be called Bitcoin Cash. It brought ease of purchase, transaction speed and consequently for everyday use.
- Bitcoin Cash has been developed to solve a scalability problem that the BTC presents in the network. While the BTC does about 7 transactions per second (tps), the fork uses peer-to-peer technology to accelerate this effectiveness by up to four times.
- While the original Bitcoin network blocks have a size of 1MB - which allows for a speed of 3 transactions per second - Bitcoin Cash fork blocks can reach 4 MB. Bitcoin Diamond (BTD), released in November, theoretically has blocks that can go up to 8MB. In addition, BTD blocks would be generated five times faster than the BTC.
- Forks seek to generate more value to the bitcoin community by attracting new users and increasing confidence by offering technological upgrades and less astronomical prices to the average user. In any case, they still do not count on the consensus of the bitcoin community, something essential for the idea to avenge.
- Bitcoin Diamond, will hardly be a force like Bitcoin Cash, which has brought improvements in relation to what it can offer the community in terms of current use. "
It is very foggy the proposal of that fork. "Whether it's increasing block size, or increasing transaction capacity, if his network is going to get faster, none of this is still clear. We need to keep track to see what the developers' intentions are about Bitcoin Diamond.
The December forks
- Super Bitcoin is the first hard fork to be released this month, scheduled for Friday (15), was anticipated for last Tuesday (12). Generated from block 498,888 of the Bitcoin network, the fork is an effort by Chinese developers to "make Bitcoin great again".
- To do this, it seeks to optimize transactions with the currency from the Lightning Network technology and reediting the idea of Bitcoin Diamond to create blocks with up to 8MB. It will have a total of 21,210,000 units, of which 210,000 are pre-mined.
- For the CoinTelegraph (goo.gl/tQ6C9C), the developers said that they sought to create the fork in line with current discussions within the user community and that they are testing the fork. Analysis on the one hand may increase uncertainties about this "experiment", but on the other hand it retains some room for optimism for the future in terms of technological improvements.
- Another Chinese effort in the same direction is due on the 25th, and it is even more pretentious. Instead of a "super" Bitcoin, we will have something divine: Bitcoin God (GOD).
- Guo assured that the hard fork is not a joke, but that it chose the date to be symbolic within the Bitcoin community and to dialogue with its "saving" pretensions. Guo's tone does not inspire much confidence.Two days before the birth of GOD is also scheduled to launch the Bitcoin Platinum - which should leave block 498.577 of the blockchain. On 2 January Bitcoin Cash Plus. Two other forks that are still unpredicted are Bitcoin Silver - which promises an even more decentralized currency - and Bitcoin Uranium, similar to Super Bitcoin.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.