Monday, October 8, 2018

Can “Forward Blocks” Propel Bitcoin Toward Mass Market Adoption in Lieu of Hard Forks?

Colleagues, establishing consensus among developers and users alike has been a critical success factor necessary for emerging technologies to cross the chasm from early adopters to mass market acceptance for decades. Bitcoin, with its roughly 51% crypto market cap share, faces a crucial junction as it seeks to increase block size without losing is faithful followers. Changes to BTC’s proof-of-work and block size are inevitable if the cryptocurrency is to maintain its technical and market leadership. However, Bitcoin needs to avoid dissension among its developers and users, similar to the infamous hark for of 2017 that splintered BTC into Bitcoin and Bitcoin Cash. Enter so-called “Forward Blocks”. Proposed by developer Mark Friedenbach, in theory this technique can make future changes to block size and POW backward compatible. If successful “Forward Blocks” would eliminate the technical and market carnage that are typically caused by “Hard Forks”. The trillion-dollar question remains: Will “Forward Blocks” be successful? Share your comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)  

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