cool hit counter New Bitcoin Hard Fork Called "LightningBitcoin", LBTC Released_Intefrankly

New Bitcoin Hard Fork Called "LightningBitcoin", LBTC Released


Lightning Bitcoin is the first coin to run on the DPOS consensus mechanism, which aims to make bitcoin transfers faster.

One of the main problems that the Bitcoin network is currently facing is the decrease in transaction speed and the increase in transaction costs. Bitcoin scalability is the primary challenge developers are currently facing to meet the surge in investor participation.

A development team has launched a new project called Lightning Bitcoin LBTC, a hard fork of the Bitcoin network with the number 499999. The main purpose of this "hard fork" is to allow bitcoin to be transmitted at the fastest possible speed, with a maximum volume of 24 million transactions per day. In order to make this project successful, the project's proponents used the DPOS (Delegated-of-Stake) mechanism.

The debate and discussion about the POW mechanism is said to be the main cause of network congestion due to mining centralization. Daniel Larimer, author of the "Proof of Authority White Paper," has long argued that the miner community controls time to maximize their profits. This will eventually lead to all POW systems being under the control of the fiat system.

With the DPOS mechanism, all token holders are given a vote that prevents any particular organization from gaining control of the system. As stated on the official website, "DPOS consensus will significantly reduce the number of participating validation nodes and help LBTC agree in seconds and increase the speed of transactions, truly as fast as lightning. "

The project did not reveal the names of the development team members, except for a Chinese community leader named Jack Zhang. However, on its official website, you can see that the team is backed by several exchanges such as BTCC, gate.io, CEX.io and Coldlar Wallet.

The latest outrage seen in the cryptomarket is the creation of derivatives through bitcoin splits, also known as "Forkcoins" or "original Fork products". This trend started with the creation of Bitcoin Cash, Bitcoin's first generation of Bitcoin Cash. This bitcoin derivative is the first coin in the bitcoin blockchain. According to data provided by CoinMarketCap, Bitcoin Cash ranks among the top 3 cryptocurrencies by market cap.

The arrival of Forkgen makes it possible for anyone to create their own forked coin with a few clicks of a button. Forkgen has created a very user-friendly website where users only need to enter parameters and some others to create their own bitcoin branches.

One of the anonymous developers behind Forkgen's creation says their goal is to democratize the process of creating bitcoin. In a conversation with BitcoinMagazine, the developer said:- "Even leading developers have shown that it is difficult to create branches of the Bitcoin blockchain without creating critical errors." Forkgen has created a level playing field where anyone can easily create a working fork. It will then reduce to a much simpler question of marketing your new altcoin. More people are good at this part.

He further notes, "Forkgen is an example of Satoshi True Vision, and many chains are even better if the chunk is conducive to scaling.

By BHUSHAN AKOLKAR

Original source: https://www.coinspeaker.com

Compiled by FintechProbe


Recommended>>
1、PHP code audit of deadly SQL injection
2、The future of agriculture will be one of the worlds most important industries as big data goes to the field
3、Apple acquires eye tracking company SMI in new AR development move
4、8 Tips to Improve Your Data Analysis Productivity
5、Extending entityframeworkcore to implement default string lengthdecimal precisionentity autoregistration and configuration

    已推荐到看一看 和朋友分享想法
    最多200字,当前共 发送

    已发送

    朋友将在看一看看到

    确定
    分享你的想法...
    取消

    分享想法到看一看

    确定
    最多200字,当前共

    发送中

    网络异常,请稍后重试

    微信扫一扫
    关注该公众号