Age of Forks

in blockchain •  10 months ago


As you know, it’s very difficult to change the protocol of the blockchain network. This requires the consent of most developers and other people supporting the network: programmers, miners and others. When consensus is not reached, there is a branch of the network — fork. Thus, a new blockchain network with the entire history of the previous network is being born. For many participants of the crypto industry, forks were initially perceived negatively. How is possible — there was a network, everything was wonderful, but then the like-minds came to a total disagreement in fundamental views. In addition, from the point of view of the classical economy, it looks strange, when people possessing some value suddenly get another value for free. As the owners of Bitcoin, who received Bitcoin Cash, and then Bitcoin Gold. The owners of Ethereum, perhaps, experienced the most notorious fork, when the main network separated on Ethereum Classic, and then — Ethereum Zero, as well as many other less well-known fork of the Ethereum.

There is nothing new in the creation of value from the air, any state produces virtual values ​​in the form of a physical paper cut in different colors, which, in its turn, is also not backed up, but only sent down from above by a directive on recognizing its value. The difference is that the government uses its monopoly right, and crypto-enthusiasts come to a consensus. Does this cause concern among government? Oh yeah! Does this cause concern among the philistines? Perhaps it cause concern more than government, because you need always to keep your hand on the pulse of change and every time to leave the comfort zone. It’s your business — what you have decided to change and what value to give to this change! Today IZX is simply discount tokens in augmented reality, and tomorrow they can be used as a payment instrument in majority of supermarkets. We set the value of the tool, based on its qualities and convenience. At one time it was normal to carry a handful of gold coins, today we need to realize which units and zeros on the smartphone’s screen we can believe.

The era of ICO has come very quickly, and the most viable of projects manage to survive in the ocean of hundreds ICO projects. Further, they will fork out into a multitude of forks, each of which will reflect the new interests of each part of society. There is nothing to be worried about this, except for determining the optimal navigator, which could help to figure out the digital branches in the best possible way and not to run into the dead-end.

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