THE FEATURE Bitcoin Gold: What to Know About the Blockchain's Next Split Call it the season of the fork. While the fact that bitcoin's code has long been copied by those seeking to launch alternative cryptocurrencies is nothing new, it seems the industry is entering another period in which this behavior has seen a notable change. Once upon a time (all of three years ago), cryptocurrency projects would copy bitcoin's code, alter it and launch a new network, open to a new set of users. Here, we saw the "altcoin boom," sparked by the creation of litecoin, dogecoin and other early experimentations on the concept. The next wave saw enterprises and banks do the same as a means of experimentation (though many didn't admit it). Eventually, they created their own private (or permissioned) alternatives, migrating to the supposedly more flexible and feature-rich ethereum blockchain. It seems then that what we have now is a third wave of such activity, this time with projects seeking to copy not just bitcoin's code, but its already expansive user base. As of a successful "fork" yesterday, a project called bitcoin gold is effectively making its tokens available (soon) to any bitcoin user. It's a notable deviation in strategy and one that could herald things to come. Bitcoin cash? Bitcoin gold? Bitcoin bonds? It's hard to image what's next. But certainly, our collective imaginations appear to be gearing up for another round of exploration. | |
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