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Cryptocurrency- The hard forks for the best coins in the market have had a quiet 2018 compared to last year. The second half of 2017 saw the creation of Bitcoin Cash, bifurcated by the BTC code originally referred to as Core, which brought the currency to a fourth position compared to the total market capitalization, worth almost $ 8 billion. Other coins derived as Bitcoin Gold were generated in the meantime, failing to reach the market penetration of BCH. Segwit2x, a controversial controversy for Bitcoin that at one point seemed to split the community into two, was set for a high-profile market position with the US-based cryptocurrency exchange that promotes coin support. However, just a week before the crossroads began, a large number of industry figures and developers were in favor of BTC Core, claiming they would not support forked money. In the end, the project was largely shelved, but not before creating a great deal of intrigue for Bitcoin investors and the broader population, in particular because of the particularity of being provided with "free" coins after the forks.
A new study published today suggests that hard forks are not just a confusing aspect for the cryptic public in general, which leads to the alienation of more occasional investors and adopting the currency , but potentially dangerous for the stability of the whole sector. According to researchers at the Oak Ridge Institute for Science and Education, which investigated over 800 soft and hard Bitcoin forks, the possibility of controversial forks could lead to a weakening of the cryptocurrency industry, despite the potential for widespread adoption. The study concluded that cryptography has the potential to alter the future state of commerce, fintech and global information exchange through the use of blockchains. However, hard forks lead to governance problems that create a lack of confidence in the currency. Basically, the average investor in Bitcoin relies on the limited supply of money and on written governance in stone, a detail that appears meaningless in the case of repetitive forks,
"The rupture of a blockchain Cryptocurrency in this way could cause people to lose confidence in it and its ability to survive as a reliable trading vehicle "
While Bitcoin Cash (BCH) managed to become a pillar of the industry, with a large amount of adoption and capital of development driven through the currency, including the soon to IPO cryptocurrency goliath Bitmain, most of the BTC forks fail to live over several months and the projects are usually shells within a year. Similar to the decline of the ICO market, the ease of developing a forked currency has lowered the entry barrier so significantly that the market has been invaded by projects that hardly have a basic idea, let alone a roadmap for usability. The instigators of forked coins are betting on the confusion of the market in conjunction with the fashionable nature of blockchain and cryptocurrency to drive wandering capital, a technique that found some success at the end of 2017, but has been widely criticized at the time. beginning of the year with the introduction of Litecoin Cash. Litecoin Cash was almost universally regarded as an attempt to capitalize on the brand of the seventh largest cryptocurrency by market capitalization.
The hard forks present both an intrusion on the confidence of investors and users of cryptocurrency, and the presentation of a further source of confusion for the wider public who still tries to wrap their mind around the encryption. The paper also adds that stability is necessary for the continued growth and prosperity of the sector,
"The hard forks pose a threat to maintaining a stable and predictable operational platform that is essential if cryptocurrencies are to be adopted for daily financial transactions. . "
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