Preparing a Bitcoin Hard-Fork

The implementation of a hard-fork in the Bitcoin network would be possible and the core developers are already thinking about it.

Even if a hard-fork is not imminent at the moment, the Bitcoin core developers are investigating how such a scenario could look.

The proactive step of the developers shows how responsibly the team, which is initially only made up of volunteers, points to its sponsors and stakeholders.

For the first time, the core developers approach the idea of ​​a hard-fork again. Previously, this thought has caused great excitement within the Blockize debate. Not least because such an undertaking would split the network and involve great risks. Bitcoin-Core long-term developer Matt Corallo said in a Intervie with CoinDesk: "So far, no one has managed to successfully pass a hard-fork. A certain number of Bitcoin core developers are of the opinion that we should at least be prepared for a possible hard-fork. "

How important the preparations are, we have witnessed the latest example of the Ethereum Blockchain. Here, the implementation of a hard-fork was unfortunately wrong. After one of the largest Ethereum projects became the victim of a gigantic theft, the developers took the hard-fork to save the stolen ether stocks of thousands of investors. This was the only way to "reverse" the DAO theft and split the network.

With the hard-fork all miners, dealers and users were encouraged to upgrade their nodes. Those who carried out an update were from now on users of the new blockchain. All those who decided against the update, remained on the old blockchain from then on. The remainder remained two ethereum blockchains: Ethereum Classc and Ethereum. Both blockchains still claim the title of the "original" for themselves.

Bitcoin Scaling

The topic of bitcoin scaling has provided an abundance of conversation in the past.The implementation of a hard-fork in the Bitcoin protocol was not the only solution in space. Soft Forks are backwards compatible and hard to correct, just a small part of the miners need to update. Old nodes also see the new nodes as valid and recognize their validity in the network. But there are also many different opinions on this subject.

One of the most popular soft-fork methods is segregated wittness - a solution originally designed to prevent transactional distortions.

Since the first announcement of SegWit in December last year, the Blockize debate has declined a little. Not least because the progress of the network has already made great progress.

"Six months ago the network was still in a rough draft and the network was very slow. We have made improvements almost everywhere and that makes a lot of difference for many people, "Corallo said.

A hard-fork is currently not necessary to master the scaling. The Bitcoin core developers have managed to optimize the network through the FIBRE and the limitation of the Mempool size


Still, there are still many voices that see a hard scaling as the only solution for the long-term growth of the Bitcoin ecosystem. Updates and improvements here may only delete the fire still firing in the core. Peter Todd of the Bitcoin Core Team does not see a reason to do a hard fork at the moment - in a few years, he says, he could imagine it. For this reason, a solution is already being worked on in the future. Peter Todd:

"You need a damn good reason to get a hard fork in the bitcoin blockchain; at the moment we do not see any reason for this. "

English original version by Bailey Reutzel via CoinDesk