The Bitcoin Cash (BCH) network is expected to undergo a hard fork on Nov. 15, There are currently two competing fork proposals, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). In the event of a successful fork, BitForex users holding BCH prior to the fork . Bitcoin fork is an · Kieran Smith 20 based on a snapshot new Bitcoin Forks List of Upcoming Bitcoin the upcoming Bitcoin Cash the Bitcoin Cash (BCH) firm Flare Networks says SV Over Hard Fork Forks and Past Forks Flare Networks says it in December – Here's Forks, How to Claim the Bitcoin network with down from its December Definition. Nov 05, · Dear community, At approximately /11/15 PM (UTC), the Bitcoin Cash (BCH) blockchain is scheduled to undergo a hard fork. There is likely a chain-split between the two main BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), making this a contentious hard fork that may result in an additional token.
Upcoming bitcoin hard fork decemberCardano Set To Launch A Hard Fork In December For Next Blockbuster Upgrade
However, it is significant because it prepares the platform for smart contracts and asset creation, in addition to ADA. This can be, for example, a vote or the execution of a smart contract. Hammonds compares the process of token locking with earning dividends from shares:. We can compare this with earning dividends from shares. They have entered a conditional contract with the share provider that gives them something of value here, a dividend in return for holding a specific token here, a share for a certain period in this case, a full calendar year.
The locking of tokens is therefore indispensable for the realization of complex smart contracts. In addition, token locking is also an important component for the fifth and final development phase of Cardano, Voltaire , as it provides the basis for the future voting mechanism.
This will prove that individuals have a certain number of votes, while the holder can continue to participate in the staking. The introduction of token locking will take place behind the scenes for ADA holders, as the Daedalus and Yoroi wallets will be automatically updated.
According to Hammonds, after the implementation of the token locking system in mid-December, further hard fork combinator events for multi-asset and other smart contract functions will soon follow. Over time, this will lay the foundation for the creation of native tokens on the Cardano blockchain:.
In addition to a saturated ICO market , countries around the world are cracking down on the practice with regulations that are intended to tax the funds raised as well as protect vulnerable investors from scamming.
It appears that the forks may be just the latest way to make a regulation-free quick buck. The sudden boom in hard-forked cryptocurrencies can be seen as a series of opportunistic grabs to take advantage of the benefits of being a member of the Bitcoin brood rather than starting out cold as an entirely new cryptocurrency.
When most cryptocurrencies are born, they are initially worth just a few dollars or even just a few cents. However, cryptocurrencies created from Bitcoin hard forks have a serious advantage when it comes to their valuation. Because hard forks behave like stock splits, the cryptocurrencies they create are already widely circulated as soon as they are created, although there is often a waiting period before certain wallet companies will allow the new currencies to be withdrawn.
In any case, the automatic wide circulation artificially pumps up the value of the new coins, a pump that is followed by an inevitable correction when exchanges adopt the coins for buying and selling. Holders dump the coins en masse, cashing out on their free money.
The price subsequently drops significantly, which may lead some opportunistic buyers to scoop up as many of the tokens as they can. There is more than one way that a Bitcoin-forked coin can become centralized.
The Bitcoin Gold network has been the subject of some additional controversy as it was discovered last week that the official Bitcoin Gold wallet file which was available for download on GitHub had been infected with two files of unknown origin.
Additionally, some Bitcoin holders seeking the BTG tokens they were entitled to after the fork were the target of scammers. Indeed, the process of retrieving the coins created by hard forks can be risky without the proper technical know-how.