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Latest Bitcoin 'hard Fork' Causing Concern In Cryptocurrency Community

Latest Bitcoin 'hard Fork' Causing Concern In Cryptocurrency Community

Latest Bitcoin 'Hard Fork' Causing Concern in Cryptocurrency Community This latest Bitcoin "hard fork" scheduled for today ismaking some in the cryptocurrency community uncomfortable. Jaap Terlouw is theperson behind this attempt toexecutea Segwit2x hard fork, which is not the same team behind the failed Segwit2x hard fork back in November. New cryptocurrencies areusually createdwhen there is a signal for a hard fork, which involves splitting the path of a blockchain whenthere's no consensus -- so a significant enough portion of nodes and miners continue to mine the old chain, thereby introducing a situation with two currencies . "Most of the exchanges are uncomfortable with the development work behind the Segwit2x hard fork -- the code itself as well as the experience of the team handling it," said Alexandre Tabbakh, the CEO of PUBLIQ, a blockchain-powered distributed media platform. Forks are serious stress tests for the whole Bitcoin community, which has to show unity and discipline to handle them successfully. Tabbakh explained that whenever Bitcoin survives these "little revolutions," it strengthens its status as the first and most reliable blockchain. "The experience and presence of the [current Segwit2x team] management team on the main Bitcoin forums are surprisingly weak," Tabbakh said, although he noted that Bitcoin "has encountered several forks and shakedowns in the past, but so far always came up stronger." On Thursday, Bitcoin was trading at $14,347, downmore than 8%from an opening bid of $15,378. There are already a number of variations of Bitcoin available created by previous hard forks, including the core Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin Gold (BTG). Sergei Sevriugin, CEO and founder Rega, a risk sharing platform, explained that the current Continue reading >>

Andreas Antonopoulos: 4 Things Bitcoin Needs Plus A Hard Fork In 2018

Andreas Antonopoulos: 4 Things Bitcoin Needs Plus A Hard Fork In 2018

Andreas Antonopoulos: 4 Things Bitcoin Needs Plus a Hard Fork in 2018 Melanie Kramer March 26, 2018 8:00 pm In his latest Q&A on March 24th, 2018, Bitcoin evangelist, educator, and influencer Andreas Antonopoulos explains what the cryptocurrency industry needs next and his expectations for Bitcoin development. Antonopoulos begins the Q&A by noting, partly in jest, that the industry does not need some kind of artificially intelligent, neural network based, 3D printing, drone-based Mars expedition. The truth is that the most important projects at this stage are really basic, basic infrastructure projects. According to Antonopoulos, the four key things that the Bitcoin industry does need are more exchanges, continued wallet development, usable ATMs, and education systems. Antonopoulos feels that exchanges cannot be truly global, they are attached to local culture, language, currency, and regulation and as such, every country needs 3-4 exchanges. Multiple exchanges would serve as on ramps and off ramps to sustain liquidity and activity in the cryptocurrency market and provide healthy competition. Thats 800 exchanges worldwide, not counting specialist exchanges. This economy is not yet self-sustaining it cant operate entirely within the cryptocurrency domain, I think one day it will be, but not yet. Ongoing wallet development is another area where improvements need to be made especially when it comes to onboarding cryptocurrency newcomers. Specifically, wallets that are secure, easy to use, intuitive, and which use the latest cutting-edge technology and are able to handle different types of fees and provide fee estimation are sorely needed. Antonopoulos makes an excellent argument that wallets are the front end of the Bitcoin industry and that for most new users, their firs Continue reading >>

Bitcoin Private: What You Need To Know About Upcoming Bitcoin Hard Forks

Bitcoin Private: What You Need To Know About Upcoming Bitcoin Hard Forks

Bitcoin Private: What You Need to Know about Upcoming Bitcoin Hard Forks One of many hard forks of Bitcoin coming up. The upcoming hard forks for Bitcoin have not received near the coverage of the past three hard forks of Bitcoin: Bitcoin Cash (Bcash), Bitcoin Gold (BTG), and the canceled SegWit 2x fork (some thought it was postponed, including myself due to the confusion caused by the SegWit2x 2.0 fork, read more on it below). There are reasons for this; firstly, they havent had the same effect among the community (drama, just look at Bitcoins community split between Bitcoin and Bitcoin Cash, its ridiculous) and secondly nowhere near the same proponents like Roger Ver and Jihan Wu behind Bitcoin Cash, big influencers in the Bitcoin and greater crypto community. They along with Bcash fans view Bcash as the real vision of Satoshi Nakamoto. One thing anyone must note is treating forks of Bitcoin like altcoins. Despite the recent FUD (Fear, Uncertainty, Doubt) around Bcash and Bitcoin, you must understand their is only one Bitcoin. This doesnt mean a fork like Bcash or BTG wont be successful. What makes Bitcoin Private (BTCP) different about it from previous forks? Owners of both Bitcoin and ZClassic (ZCL) will receive BTCP at a one-to-one ratio upon the snapshot of the network. For example, if you own 10 Bitcoins and 30 ZCL, you will get 40 BTCP. For those unaware, ZCL is a privacy coin based on Zero Knowledge proofs (ZKP)that was forked from Zcash . In order to receive BTCP, it is recommended you store your ZCL and Bitcoin in private wallets to guarantee you receive your tokens. ZCLs only major exchange it is listed on is Bittrex, but Bittrex is yet to announce if they will support the fork. The total circulating supply for BTCP will be 18,500,000 (Supply BTC + Supply Z Continue reading >>

Bitcoins New Hard Fork Bitcoin Atom (bca) Is Taking Place Today

Bitcoins New Hard Fork Bitcoin Atom (bca) Is Taking Place Today

Yet another hard fork in the Bitcoin blockchain will be giving birth to a new Bitcoin derivative named Bitcoin Atom (BCA) . The Bitcoin Atom (BCA) fork is coming up quickly, at Bitcoin block #505 888, estimated to occur on January 25, 2018. At the press time, the hard fork will probably go through in the next2-3hours as the existing data according to Block Explorer shows it to have reached the block number 505870. Bitcoin Atom (BCA) is a SegWit-enabled Bitcoin hard fork, which is expected to address several of Bitcoins scalability issues. Also it will be hosting features like atomic swaps which allows users to instantly exchange tokens at minimal cost without the need of centralized exchanges or any other intermediaries. For very instant and cheap transactions, the project also aims to integrate Lightning Swaps (LS). This means that Bitcoin Atom will be seen implementing both on-chain and off-chain mechanisms to solve the dual problems of cost and speed. The leader of the team, who prefers to remain anonymous said: Centralization is less obvious but the problem with the main transfer of value in the crypto world,is exchanges. Centralized exchanges can be hacked or disappear or shut down by the regulators, and decentralized exchanges such as Etherdelta dont trade bitcoin and only trade ERC-20 tokens. Even at that, they can get hacked. In addition to handling issues connected with speed and cost of transactions, Bitcoin Atom will also be using a hybrid consensus model by combining Proof of Stake (POS) and Proof of Work (POW). These two are different types of algorithms to arrive at a consensus, or agreement, to determine whether a transaction is valid or not before being added to the blockchain. Bringing of the hybrid model in work is expected to decrease network threat Continue reading >>

List Of Bitcoin Forks

List Of Bitcoin Forks

This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . The following are forks of the software client for the Bitcoin network derived from the reference client, Bitcoin Core : These are coin splits of the digital currency Bitcoin , created intentionally via hard forks of the blockchain, sharing a transaction history with Bitcoin up to a certain time and date: Bitcoin Cash (Forked at Block 478559 [1] , 1 August 2017) Bitcoin Gold (Forked at Block 491407 [2] , 24 October 2017) Bitcoin Diamond (Forked at Block 495866 [3] , 24 November 2017) BitcoinX (Forked at Block 498888 [4] , 12 December 2017) Super Bitcoin (Forked at Block 498888 [5] , 12 December 2017) Proposed but Cancelled Coin Splits[ edit ] This was a planned coin split of the digital currency Bitcoin , which was later canceled before the split could take place. Continue reading >>

A Week Is Left For Bitcoin Hard Fork Segwit2x To Occur

A Week Is Left For Bitcoin Hard Fork Segwit2x To Occur

A Week is Left for Bitcoin Hard Fork Segwit2X to Occur The third hard fork in the history of Bitcoin named Segwit2X , will happen on December 28, 2017 on the block 501451. It was expected to occur in mid-November, but the date was redefined. Still, futures trading has started and is still conducted at numerous exchanges at a price about 0.01 BTC (HitBTC). Apart from implementation of Segregated Witness, a new version of Bitcoin already has other significant improvements. The size of a block was increased to 4 mb, the rate of block production reached 2.5 minutes. Each Segwit2X holder will receive a unique address format. Moreover, the complexity of mining will be recalculated after each block. Segwit2X uses X11 encryption algorithm and has protection against repeated transactions. This is not a full list of improvements. Some features are being developed and implemented at the moment, some are planned and included into the Roadmap. Soon Segwit2X will be even more advanced after getting such new functions as offline codes, zk-SNARKs, Ethereum smart contracts, anonymous transactions and support for Lightning Network for instant transactions. Commission and transaction speed within the Bitcoin network reached inconceivable values. In the last month, the average commission of the network was 15 US dollars! While Bitcoin turns into a digital analog of gold, it is simply impossible to use it as a payment tool. As you can see, the new hard fork will give holders unique advantages. The team of developers highlights that they are not creating a replacement of classy Bitcoin, but an advanced addition to it. The new fork will make the network better. When the fork occurs, each BTC holder will have an opportunity to receive B2X in the ratio of 1:1 as well as a pleasant bonus. It is Continue reading >>

Why Hard Forks Are Good Forbitcoin

Why Hard Forks Are Good Forbitcoin

Image Credit: An optimistic outlook on how Bitcoin Blockchain splits may actually help to advance the Cryptocurrency eco-system Whereas to the general public this is a phrase most associated with motoring, to the cryptocurrency community, a hard fork represents something much more serious. Without going in any precise details, during a hard fork, the blockchain of a cryptocurrency splits to form two (often competing) forms of the currency. It occurs when sets of stakeholders within a cryptocurrency (normally miners and developers) have a conflicting perspective on how it should develop. Bitcoin itself has had just the two (major) hard forks in recent years, with the inception of Bitcoin Cash on August 1st earlier this year, followed by Bitcoin Gold on October 23rd. However, we know that there is at least a 3rd scheduled for Nov 25th in the form of Bitcoin Segwit 2x, or B2X as it seems to be widely referred to. Forks create a fair deal of FUD and pandemonium, and most Bitcoin aficionados desperately hoped that Bitcoin Cash would be the first and the last for years to come. Why do forks occur? No one cares, just stopforking! Take your nerd fight elsewhere guys! Image credit: In all honesty, the average Bitcoin holder has very little empathy (and even less understanding), of the details of these splits. All we know is that disgruntled miners are once again splitting (what we view as) our beloved currency in order to form their own rogue chain of Bitcoin. So you can imagine that another major fork to take place within a month, we were beginning to get that dreadful feeling of dj vu. Not the exciting, nostalgic kind, but rather the nauseatingly familiar form, similar to how you feel when you step into a building that reminds you of an old job they never really took a liking Continue reading >>

Super Bitcoin Hard Fork To Launch Tuesday To Make Bitcoin Great Again

Super Bitcoin Hard Fork To Launch Tuesday To Make Bitcoin Great Again

Super Bitcoin Hard Fork To Launch Tuesday To Make Bitcoin Great Again Super Bitcoin, the hard fork looking to implement 8MB blocks, will take its network snapshot Tuesday. Tuesday will see the launch of Super Bitcoin, a new hard fork which developers say will make Bitcoin great again. One of a handful of forks due to diverge from the Bitcoin core chain this month, Super Bitcoin is a Chinese effort looking to optimize Bitcoin through measures such as Lightning Network and an 8-megabyte block size. The new chains network snapshot is set for block 498,888, to occur during Tuesday, Dec. 12. Explaining the impetus behind their decision to create the new fork, developers said they were acting according to ideas from the Bitcoin community. Please remember: This is just an experiment, the projects website advises. We are merely implementing the proposals recommended by the Bitcoin community. Only when we put these talks into actions that we can make Bitcoin great again. Broadly following Bitcoin-esque attributes, Super Bitcoin is nonetheless notable for its supply 21,210,000, which includes 210,000 pre-mined coins. The 210,000 pre-mined tokens will be managed by the Super BTC Foundation and are mainly used to encourage early developers, invest in the super BTC ecosystem and ensure the operation of the Super BTC Foundation, the website explains. Major Bitcoin mining pools f2pool and BTCC are allegedly slated to support the fork, while 21 exchanges will notionally offer trading, according to listings. December also sees the birth of new Bitcoin versions with names including Bitcoin Uranium, Bitcoin Cash Plus and even Bitcoin God . Continue reading >>

Zcash's Coming Hard Fork Could Pave The Way For More

Zcash's Coming Hard Fork Could Pave The Way For More

Zcash's Coming Hard Fork Could Pave the Way for More Mar 22, 2018 at 08:00 UTC|UpdatedMar 23, 2018 at 13:35 UTC Privacy-focused cryptocurrency zcash is gearing up for its first hard fork. And while that may call to mind bitter debates over development or excitement about free coins, actually zcash's first hard fork - dubbed " Overwinter " - isn't about either. Instead, the cryptocurrency's developer team is hoping to lay the groundwork for more dramatic upgrades in the future. While there are some features being added to zcash in the update, Zooko Wilcox, co-founder and CEO of Zerocoin Electric Coin Company, which develops the network, told CoinDesk, "The purpose of this is to get practice doing network upgrades." As such, the developer team has been carefully informing the zcash community about the process so "they know how to do this regularly from now on," he continued. Most of Zcash's developer energy is focused on perfecting Overwinter, which is slated for June, while also looking ahead to zcash's next hard fork upgrade, called Sapling. This subsequent hard fork will usher in a big change, speeding up transactions on the network while maintaining the same level of privacy the cryptocurrency already provides. Speaking to the names of the upgrades (zcash's software stage is currently called " Sprout "), Wilcox said he foresees a smooth transition. "If you have a sprout, after it has endured cold, it becomes tougher." And should zcash survive this winter, surely, according to its devs, the cryptocurrency will be stronger. While the thinking on forks has shifted some, hard forks have been seen as controversial since they are a kind of governance mechanism that forces users to move along with a technical change. Should the zcash community ride out this first transition Continue reading >>

Bitcoin Private Team

Bitcoin Private Team

private, decentralized, fast, open source, Only available in English, Chinese, German, and Russian. Other languages will be available soon. Disclaimer: Translations from English may contain inaccuracies. Bitcoin Private uses the same privacy technology as ZClassic (zk-snarks). This means payments are published on a public blockchain, but the sender, recipient and other transactional metadata remain unidentifiable. Just like Bitcoin, Bitcoin Private supports peer-to-peer transactions without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public ledger. Unlike Bitcoin, Bitcoin Private supports a slightly increased block size while being more anonymous and secure than any existing Bitcoin-based currency without sacrificing transaction speeds. Bitcoin Private's entire codebase is publicly available for viewing and verification by anyone. It will always remain open source and be maintained by an ever growing community. In the nature of transparency and open source, Bitcoin Private is developed by team members all over the world. Each member fills roles and contributes based on his or her skill sets. There was no premine, and there is no founder's reward. Bitcoin Private has been released in a fair manner to all. Coins were distributed on a 1:1 basis to BTC and ZCL holders. Continue reading >>

What The Fork? 3 Bitcoin Hard Forks Scheduled For December, More To Come

What The Fork? 3 Bitcoin Hard Forks Scheduled For December, More To Come

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Hard Fork Definition | Investopedia

Hard Fork Definition | Investopedia

As it relates to blockchain technology,a hard fork (or sometimes hardfork) is a radicalchange to theprotocol that makes previously invalid blocks/transactions valid (or vice-versa), and as such requires all nodes or users to upgrade to the latest version of the protocol software. Put differently, a hard fork is apermanent divergence from the previous version of the blockchain , and nodes running previous versions will no longer be accepted by the newest version. This essentially creates a fork in the blockchain, one path which follows the new, upgraded blockchain, and one path which continues along the old path. Generally, after a short period of time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version. A hard fork can be implemented to correct important security risks found in older versions of the software, to add new functionality, or to reverse transactions (as in the case with the hard fork to reverse the hack on the DAO (decentralized autonomous organization) in the Ethereum blockchain). A hard fork involves splitting the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software. Following the hack on the DAO, the Ethereumcommunity almost unanimously voted in favor of a hard fork in order to roll back transactionsthat siphoned off tens of millions of dollars worth of digital currency by an anonymous hacker. The hard fork also allowed DAO token holders to get their ether funds returned to them. The proposal did not exactly unwind the networks transaction history. Rather, it relocated the funds tied to The DAO to a newly created smart contract with the single purpose of letting the original owne Continue reading >>

Hard Fork, Hard-forking Change

Hard Fork, Hard-forking Change

This definition comes from the technical glossary . A permanent divergence in the block chain , commonly occurs when non-upgraded nodes cant validate blocks created by upgraded nodes that follow newer consensus rules . Soft fork (a temporary divergence in the block chain caused by non-upgraded nodes not following new consensus rules ) Software fork (when one or more developers permanently develops a codebase separately from other developers) Git fork (when one or more developers temporarily develops a codebase separately from other developers Continue reading >>

Blockchain - What Is A Hard Fork? - Bitcoin Stack Exchange

Blockchain - What Is A Hard Fork? - Bitcoin Stack Exchange

When people talk about possible changes to how Bitcoin works they sometimes say a particular change would require a hard fork. What does that mean? Can a hard fork cause problems? related: What is a soft fork? StephenM347 Jan 30 '15 at 23:02 Will Hard fork affect Bitcoin value to decrease? I mean due to Blockchain split Salvator NKUNZIMANA Mar 27 at 19:40 Simply put, a so-called hard fork is a change of the Bitcoin protocol that is not backwards-compatible; i.e., older client versions would not accept blocks created by the updated client, considering them invalid. Obviously, this can create a blockchain fork when nodes running the new version create a separate blockchain incompatible with the older software. For potential future changes that would require a hard fork, see the associated wiki page . Should 'hard fork' not be constrained to Bitcoin protocol, and strictly define a condition in a blockchain network where node consensus diverges permanently. Goddard Nov 28 '16 at 16:09 What do you mean? The answer of BinaryMage mentions "is a change of the Bitcoin protocol". Murch Nov 28 '16 at 16:17 He meant limiting the definition to Bitcoin is unnecessarily restrictive. Ethereum has had hard forks too, and @BinaryMage's description of what a hard fork is would work equally well there, except for the fact that Ethereum doesn't use the Bitcoin protocol. Nik Bougalis Nov 28 '16 at 16:33 I think you mean HF is not forward-compatible. It is BWC in the sense that "the new understands the old" which is the common definition in most dictionaries. jiggunjer Oct 26 at 9:46 Continue reading >>

Hard Fork, Take Two: Segwit2x Will Return Dec. 28, Says Founder

Hard Fork, Take Two: Segwit2x Will Return Dec. 28, Says Founder

Hard Fork, Take Two: SegWit2x Will Return Dec. 28, Says Founder Controversial Bitcoin Hard Fork SegWit2x is making a low-key comeback this week, its developers say. The controversial SegWit2x Bitcoin (BTC) hard fork will go ahead on Dec. 28, according to the projects official website . The SegWit2x project, which caused months of debate and infighting among the Bitcoin community prior to its last-minute cancellation in November, now says it will fork off at block 501451, due in around two days time. The projects Founder and Lead Developer, Jaap Terlouw, stated on their site that the fork aims to address issues of commission and transaction speed within the Bitcoin network, adding that currently, Bitcoin is almost impossible to use as a means of payment. Confirmation that the hard fork will, in fact, take place is indicated both in the roadmap on the projects site, as well as in a direct quote from Terlouw: Our team will carry out the Bitcoin hard fork, which was planned for mid-November. The founder also promised that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin (B2X), they would also receive a proportional number of Satoshi Nakamotos Bitcoins as a reward for their commitment to progress. In total, eight exchanges are listed as official supporters of the fork. The projects roadmap includes features such as Lightning Network support, smart contracts and, ultimately, anonymous transactions. In the past six weeks, Bitcoin Cash , another Bitcoin hard fork formed in August, has become the central talking point of the industry, as it sees remarkable growth and sparks shifts in mining and investment behavior, affecting Bitcoins price . The latest incarnation of SegWit2x has so far received comparatively little publicity. Continue reading >>

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