Exchanges are rebelling against constant hard forks - page 3.

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: alyssa85 on December 18, 2019, 07:20:44 AM

That's why I think coins that don't change much (bitcoin, doge) will end up being the winners.

Well, sometimes changes are needed (and of course, this is debatable). I think a more careful approach for this fork is needed overall. Instead of planning one or two changes every quarter, they should do 10 upgrades at once while maintaining the compatibility with the previous version.

Pretty sure this is annoying af for small exchanges, so hopefully, this fork thing goes in a better way.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: alyssa85 on December 18, 2019, 07:20:44 AM

Developers really love doing all these forks - but they are a massive nuisance for everyone else. The exchanges, the online wallet providers, the payment processors, all of them have to do a shedload of work to accomodate these changes.

Yeah, just look at the segwit forks to see how bad everyone is at wanting to use new forks. They were just two forks in august but it took many users more than 6 months to even bother to start using segwit.

Developers are going to have to do their best to make things backwards compaitble like is done with bitcoin to ensure everything remains fairly stable and usable for the exchanges. Btc, ltc and doge are pretty good at doing this, if eth starts adding a load of forks and a few other cryptos do the same, exchanges will find it hard to run anything less than a full/pruned node while keeping security but they may have to compromise on a few things (such as fully reviewing code) to ensure their version of the software is compatible with the current fork at the time.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Here is the news from Coinfloor (UK exchange):

https://www.coindesk.com/uks-oldest-crypto-exchange-to-delist-ethereum-and-focus-solely-on-bitcoin

Quote

Coinfloor, the U.K.’s longest-running cryptocurrency exchange, plans to delist ethereum next month, citing an unclear future of hard forks and the need for onerous technical support for the second-biggest coin by market capitalization.

The company will also delist bitcoin cash, the splinter currency founded two years ago in the aftermath of bitcoin’s heated scaling debate. Starting Jan. 3, Coinfloor will support only bitcoin, whose eleventh anniversary happens to fall on that day.

The plan comes ahead of the launch of ethereum 2.0, tentatively planned for early 2020, which will begin the process of shifting the network away from the energy-consuming proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS).

Coinfloor’s decision suggests that nurturing a team with the specific expertise to follow the technical trials and tribulations of coins like ethereum may be too expensive for smaller crypto players, particularly if this constitutes only a small part of their trading volume.

From the point at which it starts next year, ethereum’s platform upgrade “could take years to complete,” said Obi Nwosu, founder and CEO of Coinfloor. The complexity of the operation “means for a period of time there could be two versions of ethereum running.”

According to some ethereum developers, it’s likely to be years before the old ethereum PoW chain is fully merged into the new PoS network, leading to current discussions around ways to create a secure bridge between the two chains.

Developers really love doing all these forks - but they are a massive nuisance for everyone else. The exchanges, the online wallet providers, the payment processors, all of them have to do a shedload of work to accomodate these changes.

That's why I think coins that don't change much (bitcoin, doge) will end up being the winners. People just want something that works smoothly and that you don't need to do a lot of work to maintain, so that they can focus on the eco-system around the coin.

Topic: Exchanges are rebelling against constant hard forks - page 3. (Read 419 times)