RATE Group | Leading Bitcoin Cash Developer Says Future Fork Unlikely
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Leading Bitcoin Cash Developer Says Future Fork Unlikely

20 Sep Leading Bitcoin Cash Developer Says Future Fork Unlikely

Posted at 07:33h in Bitcoin News by

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Cryptocurrency forks are likely to slow down considerably in the future, leaders of several major projects, all of which were formed by forks, said at CoinDesk’s Consensus Singapore event today.

On a morning panel, Amaury Sechet, the lead developer behind Bitcoin ABC, the most widely used bitcoin cash software implementation, noted that the industry has already seen a slowdown in forks since 2017. Over 50 percent of nodes running the bitcoin cash software, created in 2017 from a fork of bitcoin, now run Bitcoin ABC to connect to the network.

Sechet argued that each time when a cryptocurrency fork happens, it leads to the loss of the network effect in the original blockchain, reducing the ability to create future value.

“You can only do that a certain amount of times,” he said, adding that a majority of future crypto forks will eventually become meaningless.

In this way, he put forth the argument that the value of the fork is derived from the strength of the disagreement that…

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