New Year – new forks: World Bitcoin and Bitcoin Candy
Hardfork Bitcoin Cash in 2017 caused a whole series of different kinds of forks of bitcoin. The next change to the bitcoin protocol will take place in mid-January 2018. A new project called World Bitcoin (WBTC) will change the program code on the 503,888 block of the bitcoin chain. The new fork is aimed at creating a global application infrastructure, which will create fundamentally new opportunities to overcome the shortcomings of the bitcoin network.
The WBTC coin will be 2,121 billion, of which 21 million will be managed by the WBTC fund, this part of the coins is meant for a marketing company and creating new network opportunities. After the hardfork passes all Bitcoin users will receive World Bitcoin coins from the calculation of 1 BTC = 100 WBTC.
The hardfork team stated that Xunlei Ltd Sean Zou served as a project adviser. But representatives of Xunlei officially stated that Sean has nothing to do with the World Bitcoin team. They also strongly recommended that you carefully check the information that these or other teams are expressing themselves, and not unconsciously buy rumors.
The second hardfork is called Bitcoin Candy (CDY) – candy for the owners of bitcoins. This change will affect the Bitcoin Cash protocol (BCH) on the block 512,666. Based on 1 BCH = 1,000 CDY, all BCH users will receive their coins.
The goal of the developers of hardfork is considered to increase bitcoin stability to the growing threat of computing with the help of a quantum computer. True, experts say that bitcoin has long been resistant to them, but the development team believes in its own way:
“High-tech companies like Intel, IBM, and D-Wave increase the infusion of money into the development of quantum computing. We should expect from them a significant breakthrough in this area in 5-10 years. When this happens, all ECDSA-based crypto-currencies will be destroyed. Our team will focus on experiments with post-quantum signatures in order to avoid errors in the work with digital currencies. ”
According to the official site, Bitcoin Candy will zoom to 8 MB using the Equihash algorithm, that is, the CDY protocol will create a new block 2 times in 5 minutes.
21 billion coins will be available for mining, of which 210 million will be received during the so-called pre-mining to stimulate the developers and provide the project. The fact that only owners of BCH will get CDY, and not owners of classical BTC, the creators explain by the fact that BCH has, in their opinion, more prospects, because it can be used as a payment facility.
CryptoShock Bitpie stated that it intends to support all the coins that will be born in the process of hardforks of the bitcoin network. Also, crypto-exchange Coinex is going to charge new coins to all users who own Bitcoin Cash at the time when hardfork is produced.