The IFO continues: dates of the next forks of Bitcoin

Creating forks of Bitcoin with the preservation of balances in the blockchain, different from the original several dozens of lines of code and a logo, and satirically called IFO (Initial Fork Offer), continues to thrive. In addition to our usual Cash and Bitcoin Bitcoin is Gold on the scene a lot of other projects. Here the next ones:

Bitcoin Platinum

This fork is not even the original Bitcoin, and Bitcoin to Cash, were scheduled at block 498 577. At the request of the Creator, the decentralization of mining had to be provided with support for multiple algorithms: blake2s, x17, lyra2v2, skein, myr-gr, Equihash, Scrypt, sha256, qubit, x11 and x13.

However, on 10 December, information appeared that the author of the Bitcoin project Platinum was a teenager from South Korea, which by creating a Bitcoin clone Cash was trying to earn a few thousand dollars. This is a very good example about the level of preparation of most such projects.

Lightning Bitcoin (LBTC)

Fork LBTC will take place on 23 December 2017 at block 499 999. If he passes the tests, the exchange QoinPro Limited will support it under the symbol of the LBTC. This fork involves the use of an algorithm achieving consensus DPOS (Delegated Proof of Stake, or delegated proof of stake). This algorithm is the basis of the work of BitShares. DPOS allows you to confirm transactions in 10 seconds. The developers of the new network plan that the use of this algorithm will transform the service into a kind of Lightning Network (hence the name), but on the technical side it’s a completely different approach. In fact, this is the first attempt to translate the classical blockchain consensus DPoS, but its success can be to talk soon.

Bitcoin God

The idea of this fork belongs to a Chinese investor Chandler Guo. The fork will occur on December 25 at the block 501 225. On this day Catholics celebrate Christmas and explains why he chose to launch a new service this date:

«It is very symbolic that on this day, all holders of bitcoins I made candy».

At the moment information about Bitcoin God a little bit. Th reports that remain not scheduled, and the number of coins is limited to 21 million, as in the original blockchain.

Bitcoin Uranium ($BUM)

This fork is scheduled for 31 December 2017. According to current information, the visible distinctive features from the already released forks, as well as planned, it does not. The creators offer to get this cryptocurrency on algorithm Equihash, similar to Bitcoin Gold.

Bitcoin Cash Plus

The developers of Bitcoin Cash Plus say they are going to take only the best of the existing Bitcoin Cash Bitcoin and Gold, and then to create something very comfortable and incredibly advanced. The emphasis is on a new system for protecting transactions and decentralized system, which will be based and developed by a team consisting of people of different nationalities. But so far other than uncertain promises nothing else not shown.

Bitcoin Silver (BTSI)

That’s why the fork is also very little information. It is not even known when planning to start. It is possible that this is nothing more than a joke. Nothing special new in itself will not bear — this is basically a copy of a copy, similar to Bitcoin Gold. All the same changing the algorithm on Equihash and loud statements about what we need to get away from the SHA-256 algorithm and return the power over mining in the hands of «ordinary people».

The results

Each new fork is claimed by the organizers as a way to decentralize bitcoin. But all these statements are good in theory. In practice, holding a fork instead of creating a unique cryptocurrency speaks only of the desire of developers to the community’s attention, without any effort, by giving away «free» coins. In addition, often in the mechanism, the fork is laid a decent amount of coins immediately after you launch it go to the creators.

Most of these projects resemble a fraudulent scheme designed to interested in additional benefit entities. In addition, each fork is potentially dangerous for users, so as to obtain a «gift» they need to enter in his wallet private keys, where at the time the fork was stored bitcoins. This scheme opens a wide field of activity for counterfeit purses and web sites, phishing and other methods of withdrawal of money in insufficiently cautious users.

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