Blockstream: What’s Next?steemCreated with Sketch.

in #bitcoin4 years ago

As the fork away from Blockstream and the Core programming team looks more likely what happens next? I see three likely scenarios, what’s your thought?

  1. Core developers continue to support the minority chain. Most miners are in this for profit and will follow the longest chain. To make this work it’s likely Blockstream will need to incentivise enough mining operations to keep this chain secure. That’s an expensive proposition. If successful it gives the Core programming team time to deploy their code and prove it offers improvements over other chains. This could be a path to success but it’s likely an expensive proposition.  
  2. Start fresh. They could launch a new coin with no history and hire Core developers to implement their vision. A clean break would allow them to amass a supportive user base of like minded individuals. 
  3. Adopt another coin. By pointing their resources to an existing coin with a supportive user base Blockstream and Core could find a receptive home. Litecoin’s founder, Charlie Lee, has been supportive. This move is likely the lowest cost and effort but risks a repeat of current state in Bitcoin.