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Case Study: Bitcoin Smart

707 Words3 Pages

Bitcoin Smart
Bitcoin Smart(BCS) is a hard fork of Bitcoin on block height 505050.With integration of smart-contract system, new features such as token issuance will be available and on-chain performance will no longer be an issue.

Date : 01/22/2018
Block: 505050
Premine: None

Bitcoin Interest
Bitcoin Interest ("BCI") is a frictionless global payment system focusing on three key areas Technology, Community, and Savings. Our payment system has a new integrated savings technology that allows our users to park their coins and earn interest.

Date : 01/22/2018
Block: 505083
Premine: 1,000,000

Bitcoin Private
Bitcoin private is a hard fork that will occur on both Zclassic and Bitcoin network. The distribution ratio will be 1:1 for both BTC and …show more content…

A hard fork is a change to the protocol that makes previously invalid blocks and/or transactions valid. All users need to upgrade to the compatible version of the protocol. In case that does not happen and some nodes/users continue to validate by the old rules, and some users by the new rules, a so called Hard-fork(HF) will occur which means the network will be split in 2 chains as demonstrated on the picture below. New and old chain share the same transaction history till the block where the change of rules has occured. After that the chains are incompatitible and are running independently. …show more content…

If you are using an exchange, they are the ones actually possessing your private keys and actual ownership of the coins. Some exchanges do credit the newly created coins, but not all of them. It is recommended to send your bitcoins to a new wallet first, as your private key is the same on all forks. So let's say you download a wallet for newly created Bitcoin fork, but it's malicious and they steal your private keys- then they also have ownership over the real Bitcoin. So for safety reasons it's always better to send your Bitcoins to another wallet and then export the old private key to the wallet supporting newly created fork of Bitcoin. Always do due dilligence - when it comes to money, there will be scammers preying on you all the

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