Author: Patrick Shirkey 2016-03-03 10:14:56
Published on: 2016-03-03T10:14:56+00:00
The success of Bitcoin has led to discussions about hard forks and the possibility of creating a new Bitcoin, similar to silver, gold or palladium. The creation of a new Bitcoin would benefit from the brand awareness of Bitcoin and would not require consensus if the market values it more than the original Bitcoin. If everyone switches to the new Bitcoin, the old Bitcoin miners will follow. However, a hard fork is still considered contentious, and a soft fork is preferable. It is also possible to create an altcoin with a 22-million-coin limit and a smooth inflation schedule instead of abrupt drops. Although the discussion is largely academic, it remains an option if 95% of the hashing power decides to mine something different.
Updated on: 2023-06-11T04:17:10.959634+00:00