Hi, long time no post I know...
I've just been reading up about BitCoin's XT or some such name being different to BitCoin Core while both are being used for transactions.
I've also read another dev has ported 42's wallet and forked it so they have a common point of origin, but am I interpreting correctly that (in this example) if a third person were to create a rival wallet to the current 42 wallet, then that wallet (if it gained 50.01 % of the wallets on the network) would become the default wallet?
If so, how is that determined? Is there code in the wallet which makes an assertion that is broadcast? Or is it, "well duh, there's 50.01 % on the network using it, therefore it must be the default wallet..."?
Thanks for reading,
good question ...
anyone know? ...
#crysx
What determines if you are using the "proper chain" is that the receiver of payment accepts your coin. That's all there is to it. If you can pay with the coin, then that makes it valid coin.
The question is thus put on the seller: what coin shall we accept? Probably the seller wants to accept coin that will continue to be valuable, that they can then use to purchase other goods and services. It's determined by markets.. by economics if you will. See e.g.
http://economicmajority.xyz/ for further discussion.
In other news, the owner of the github repo "fourtytwo42" has made an interesting commit:
https://github.com/fourtytwo42/42/commit/10247d029446163dfe3fa896b0747d5e21d8037c !!!
I fired up the wallet and don't see any blocks mined on this chain which is limited to 42 coins, in two months. Somebody throw some scrypt hash on this please!! For the lulz!! Or just for the 42 BTC millies I offered for any amount of 42coin fees mined in block 990382.
