Topic: Future development of coins - QUESTION (Read 176 times)

Great thread now i know how these works are connected to their predecessors,so these people doing hardforks are really not from the core developers of bitcoin? why bitcoin cash is claiming it is the real bitcoin while its just a forked coin which isnt actually came from the bitcoin's core team.The founder of bitcoin cash or bcash surely is a dickhead,sorry to say but its true he just want to take full control of the whole market so that he will be came the satoshi that the people wanted to be,but the opposite happened.

the future is already close. many countries have adopted a crypto currency. this greatly affects its development. Each day they will appear more, but the leaders will remain the same. They are worth investing in.

You said it right hardfork doesn't necesserily mean to create new coin.


If we look at open source software FORK simply means :

A fork is a copy of a repository. Forking a repository allows you to freely experiment with changes without affecting the original project.

This was taken from github explanation in short. And later on you can continue with new branch or simply merge to the old one. If you don't know GitHub is websites where you can find many open-source software with bitcoin being one of them. So from the programer point of view fork is some way how you want to upgrade your software.

Hardforks like bitcoin cash, bitcoin gold or even other coin forks with ethereum and ethereum clasic ... or any other altcoins happen when blockchain splits into 2 parts and both parts continue to exist in the future. Which means this is an blockchain fork.

There is also this term SOFT FORK which means that new software is mostly compatible with old software if some people don't want to upgrade or if they haven't noticed new version.

Even today many cryptos are evolving and getting updates, fork is not something you should be afraid of. Just because we had some problems with "block size debate" we have ended up with everyone making their own version of bitcoin and people call it a fork, because actually it is since they simply fork the current bitcoin code and make their own changes and deploy it to the public to use as another version of coin.

We might and we could see the fork on the core level of bitcoin why not? Hardfork simply means that the old version of the bitcoin won't be compatible with the old one and thus urging everybody to update to new version if they want to run the updated version. Tho problem with hard forks is that it could take few days until majority intall the newest version. Code is still evolving, there is not anything negative to hardfork as this is how the code is being maintained.


Forks is somewhat the way how code is being updated, you could however to the actual commits to the main project. Some devs even fork their original project because if they see for some reason it haven't worked out as planned or that they won't be able to do what they though they can simply roll back to the original branch.

If we talk about bitcoin forks, well bitcoin code is free for anyone to use. Some people want to implement some changes and to continue to develop the code on their own and thus they can create a bitcoin fork like litecoin - tweak block, coin limit etc.

real premine is when devs develop particular coin and mine the coin before they even release it to the public and this is not shares as these coins are thrown in the circulation.

Another thing is some people are calling TOKENS (on ethereum, waves and other platforms) to be a premine because it could be similar but here devs (or a company) control the supply as they create how much coins there will be in circulation and these often end up on ICO or as we should call them ITO (initial token offering). Some of this tokens can act as company shares we have kucoinShares, Coss and others.

Why is there a need for forks, and why are there pre mined coins? Ia it because they are the one who developed those? It would seem that pre mined coins can be liken to shares not available to the public. Can someone please enlighten me further on this?

It all depends on the way your coin is structured. You can develop it the way so that the owners can change the code at will without the forks — but it makes it centralized. It all depends on your design goals and the goals of your currency.

A hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency’s existing code is changed. Updating code doesnt instantly create a new coin. But im not really sure though cause im not a blockchain developer or something like that.

Thanks for the reply.
Im not a dev, I just like technology and I really missing some parts to understand the underlying dev.

So from your writing I understand that if a coin gets mined updates aree not possible on the core.

The code stops from evolving and updating! Any updated would create a hardfork.

That means all future updates will come in the form or a new layer on top of the core?

If you are developing particular altcoin and if you are currently doing this pre-mine then yes you can change the code.

Premine simply means that developers have created some coin and mined it a bit before even releasing their own code some devs to this because if their project get attention they can profit from it, hare funds for future development or to organize an ICO ,even Ethereum did huge premine way back. Which basically means if some coin had a premine and now many different miners are mining it you would have to do hardfork as you stated above.

I try to get a better understanding in the blockchain/crypto technology.
Some things are still not clear in my mind.

Soo..the Lightning network is a layer on top of Bitcoin core.
I dont want to change the core to such a big degree cause then its a hardfork.
I dont want a hardfork cause of the mining.
If the coin is premined then:
I could change the code at my will?
Implement smartcontracts in Bitcoin code?

Thanks for your input