We approach the end of the year and Bitcoin does not seem to be stopping its crazy rally. Meanwhile, there is a myriad of other Bitcoin versions waiting to show their shine to the world. In this article, we look into the 2017 December Hard Fork Guide – what should you expect?
4 December, AtoZForex – Bitcoin is continuing its crazy rally that has brought it up 1,000% from year t date. As of now, the king of the top cryptocurrencies is changing hands at $11,392.70, after hitting $11,500 earlier this weekend.
2017 December Hard Fork Guide: What to expect?
While Bitcoin frenzy seems to take over the world, many investors also look into the opportunities to gain profits with some Bitcoin alternatives, such Bitcoin Gold, Bitcoin Diamond, and Bitcoin Cash. You might wonder – what is the difference between all these versions of Bitcoin?
Well, each of the abovementioned cryptocurrencies is aiming to improve a certain flaw that original Bitcoin protocol contains. What is more, the world is currently awaiting many more of these “Bitcoins” to fork off the original Bitcoin protocol. When can we expect the next Bitcoin fork and will it be a better version of Bitcoin? Let’s discuss.
Only in December, cryptocurrency community expects to see as many as three Bitcoin hard forks. More will follow at the beginning of 2018. Some industry insiders already call the current period an “initial fork offering world” time.
Are all “Bitcoins” reliable?
The upcoming Bitcoin forks will include Super Bitcoin, Bitcoin Silver, Bitcoin Platinum, Bitcoin Cash Plus, and Bitcoin Uranium. As a matter of fact, each and every of these coins aims to solve the issues of scalability and centralization of the original Bitcoin. Yet, none of them really seem to show the technology to do so.
For instance, Bitcoin Silver (BTCS) claims to make “cryptocurrency accessible to the rest of the world.” The project also claims to have an “incredible team consisting of financial experts, blockchain developers, telecommunication influencers, international law experts, and local business ventures.” However, there are no further details provided in regards to this project.
Moreover, Bitcoin Silver does not have a whitepaper, which should explain the technical side of the coin’s development. Also, besides being a forked cryptocurrency, Bitcoin Silver is currently holding an ICO, which appears quite confusing.
Thus, it is recommended to exercise extreme caution and always carry out the research prior to investing in any cryptocurrency. In order to stay on the safe side, follow our Cryptocurrency Investment Tips for Long-term Investors.
Super Bitcoin Hard Fork
Super Bitcoin should go live at block 498,888 approximately on December 15. The official website of the project reads:
“The past 3 year-competition of the Bitcoin’s capacity expansion has prevented its development. We have lost a large market share due to the pressure (sic) from the smart contract of Ethereum and Zcash. Therefore, a large number of geeks and the renowned professionals (sic) in Bitcoin circle have been summoned to inject new momentum into Bitcoin.”
Just like the project claims, Super Bitcoin (SBTC) is an experiment, which focuses its efforts on implementing solutions that the community will propose. All Bitcoin holders should receive one Super Bitcoin for each Bitcoin they hold for free.
Bitcoin Uranium Hard Fork
Another 2017 December Hard Fork is Bitcoin Uranium Fork. Bitcoin Uranium (BUM) related talks first appeared on Bitcointalk at the end of October. The main features of the cryptocurrency include a new Proof-Of-Work algorithm Equihash to enable GPU/CPU mining, a total supply of 21 million, intolerance of ASICs, and a block size of 1M.
The Bitcoin Uranium Hard Fork is scheduled to take place on the New Year’s Eve – 31 December 2017.
Bitcoin Platinum Hard Fork
Bitcoin Platinum (BTCPLT) is expected to fork off the original Bitcoin protocol on December 12, 2017, at the block height 496525. The cryptocurrency’s features of interest include the following: lack of pre-mine, GPU mining, and SegWit2x technology.
The official website of the project states that Bitcoin Platinum uses blockchain technology to operate without any central governance or third party involved. Moreover, all the operations with Bitcoins are carried out by the decentralized network.
Think we missed something in this article about 2017 December Hard Fork Guide? Let us know in the comments section below.