- The fued between Roger Ver’s ABC and Craig Wright’s ‘Satoshi Vision’ may threaten the survival of Bitcoin Cash
- SharkPool: The mining pool planning to kill altcoins to boost Bitcoin Cash
- World’s first: Trading security tokens with a decentralized compliance protocol
- Ethereum Co-Founder Joe Lubin: Blockchain will take longer’ to develop than the web
Week 2, November 2018
Your weekly digest of the more interesting crypto and blockchain articles from around the web.
This week’s highlights:
- Bitcoin Cash hard fork: potential doooom!
- Somebody really really hates altcoins
- Securitize’s decentralized compliance protocol for security token trading
- Joe Lubin: Blockchain could take longer to develop than web
Let’s start with the battle royale on everyone’s mind….
The fued between Roger Ver’s ABC and Craig Wright’s ‘Satoshi Vision’ may threaten the survival of Bitcoin Cash
Source: Decrypt Media, Coin Dance
Bitcoin Cash (BCH) is headed for a hard fork on 15 November 2018. The fork, supported by Roger Ver (who was instrumental in the initial creation of Bitcoin Cash), will upgrade the software to ABC, potentially improve network scalability and introduce smart contracts to the Bitcoin Cash protocol.
This infuriates Craig Wright (the same guy who claimed to be Bitcoin creator Satoshi Nakamoto), whose followers believe that Bitcoin Cash should be used only for financial transactions. Wright’s camp is engaged in a ‘hash war’ with Ver’s camp to determine who will control the Bitcoin Cash network.
If the network splits into two rival chains, Bitcoin Cash ABC and Bitcoin Cash SV, there is very little chance of both surviving.
In case you’re wondering, BCH SV is currently winning the hash war at 75
And then, there’s this altcoin hater…
SharkPool: The mining pool planning to kill altcoins to boost Bitcoin Cash
If you thought altcoins were having a rough year, then buckle up, the ride could get bumpier.
The still-to-be-launched altcoin mining pool called SharkPool plans to mine all possible altcoins. Okay, what’s the harm in that? Well, they then plan to dump all the mined altcoins on the open market in exchange for Bitcoin Cash. Basically, they want to depress the price of altcoins (and possibly destroy a few alts) and boost the price of Bitcoin Cash in the process.
Why are they doing this? SharkPool’s operators claim to be Bitcoin fundamentalists, asserting that all altcoins are “acts of war against Bitcoin.” Maybe these guys need to exchange business cards with Craig Wright (see above).
Hey look, compliance is suddenly interesting…
World’s first: Trading security tokens with a decentralized compliance protocol
Source: Securitize Medium Blog
Securitize, the compliance platform for digitizing securities on the blockchain, used their Digital Securities Protocol (DS Protocol) to approve a trade on an exchange. They claim that the compliance checks were run in an automated and decentralized manner on the blockchain.
Why does it matter? It guarantees token issuers that required control mechanisms (driven by regulations and business compliance demands) are automatically enforced during trades. Doing this using smart contracts on a public blockchain is great for efficiency and verification.
Ethereum Co-Founder Joe Lubin: Blockchain will take longer’ to develop than the web
Blockchain will probably “take a little longer” to develop than the world wide web did since blockchain technology is far more complicated, according to Ethereum Co-founder Joseph Lubin. Also according to Lubin, Blockchain technology is on a development path similar to the early internet.
Based on the growing number of the users of decentralized cryptocurrencies, Lubin also suggested that distributed ledger technology (DLT) might become more widespread than the internet, possibly leading to a new “decentralized” internet.
Lubin observed that Bitcoin (BTC) is likely to remain the world’s “digital gold,” with Ethereum potentially fueling decentralized ecosystems.
Check back next week for more bite-sized crypto and blockchain highlights!