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What Does Bitcoin Bifurcation Failure Mean (Bitcoin Bifurcation BGH)

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What Does Bitcoin Bifurcation Failure Mean (Bitcoin Bifurcation BGH)

What does Bitcoin fork failure mean? When Bitcoin fork failure occurs, people will find that this term means “hard split”, which is the first branch of Bitcoin. The problem with Bitcoin forking is that miners engage in 51% attacks in order to obtain block rewards. This attack method is actually a consensus mechanism (such as PoW), but due to network effects, transaction processing efficiency and transaction cost have significantly decreased. Therefore, the failure of Bitcoin forking means that blockchain technology is severely underestimated The reason why Bitcoin did not succeed is because it did not have enough computing power to ensure its decentralized nature. If Bitcoin cannot run smoothly, there will be two problems: one is that the nodes implemented in the Bitcoin system cannot be confirmed, and the other is that the software client fails to execute the specified functional requirements or code errors According to Bitcoin exchange guide, Bitcoin BGH (Bitcoin Gold) will undergo its initial public offering on June 17th at a block height of 550000. According to its white paper, the project aims to change people’s understanding and perception of digital currencies by combining blockchain with other technologies. It is said that this is a new hard fork coin named “bgh” based on Ethereum network created by Satoshi Nakamoto. Currently, over 1000 users have registered for this new currency and have started participating in activities such as mining, trading, or pledging. After completing the first test in 1 hour, the first version will be released, and the v1 version is planned to be released by the end of February 2019.

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