Bitcoin Fork Madness Brings Big New New Cryptocurrency Opportunities. Will You Agree If Someone Says Bitcoin Is Going To Split Into 50? “What! Above all, this is insane,” this is what many will say. But what if this happens? While this is not happening now, there are those who say it will. Many say this is a little bitcoin forking frenzy. Well, the best thing is to wait and see whether this will happen. Looking at what is happening right now, it is hard to believe. But it is also from what is happening that some are saying this will happen. First, it is essential to look at what experts say. Autonomous Research global director of fintech Lex Sokolin says something. In a report that appears on Bloomberg , Lex says this is very possible.
What Cryptocurrency Opportunites Will Come From The Bitcoin Fork?
In fact, Lex points out to the time the world will see the up to 50 splits. According to the fintech strategist, bitcoin is likely to split up to 50 times. Above all, this is possible due to a hard fork in the coin’s blockchain technology. Since this is a protocol that is not compatible backward, it is reason enough to believe. To proceed smoothly, the contract needs something. Lex says that it requires at least a minimum percentage. This percentage must be in the knowledge of the miner.
Will There Be A New Altcoin?
What happens here is what will result in a new altcoin. Lex explains that something happens if the percentage is not sufficient. He says that the fork date is set on a specific block number. If this fails, the blockchain splits. Above all, this is what results in a new coin. It is true that this sounds strange and perhaps frightening. But engineers and others with the blockchain knowledge know this. Besides, this is an ingenious method of exploration. It can result in different proposals and in the end solve scaling issues.
Bitcoin Cash Was Born August 2017
Remember that there are different incidents outside the hard fork. A perfect example is BCH, which is born in August 2017. The coin is born through the legacy chain. It is unique that it is becoming successful as if it is through the hard fork. Thanks to the stable transaction time and the low fee, the coin is at par with its namesake. Because of such developments, it is now easy to believe what this strategist is saying.
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Besides, it is BCH that takes Bitcoin founder’s vision. It is Satoshi’s vision that the white paper finally uses low fees. Moreover, the founder intends that the transaction time be as fast as possible. It is as if he wants it to be instant. On this, Lex says there will be a coin that will satisfy the founder’s legacy.
The strategist is also warning against the massive BCH following. He says that this is soon going out of control. His argument is the fact that it is born through the legacy chain. According to CoinMarketCap, the aggregate amount in cryptocurrency is $500 billion. This amount continues to grow each day. The market is attracting thousands of users each day. So, as the world waits to see bitcoin forking frenzy, a lot of people want to invest in digital coins.
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