Can Bitcoin's hard cap of 21 million be changed?
Satoshi Nakamoto, the creator of Bitcoin, set a hard cap of 21 million BTC, which means there will only ever be 21 million Bitcoin in existence. How could Bitcoin's hard cap be modified?Despite the above-mentioned opposing incentives, a supply cap change is potentially achievable. For example, several entities would have to work together to modify Bitcoin's supply cap.Developers would have to suggest the modification first, then write the code to implement it. There would be a communal debate, which would almost certainly be contentious. Developers would have to agree on these improvements....
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111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of ethereum using today’s exchange rates.
Over a Million Ether or $3.8 Billion Burned to Date
The second-largest crypto asset in terms of market capitalization, ethereum (ETH) has an overall valuation today just above $500 billion. Ethereum’s market capitalization....
Bitcoin Core, an “open source software project that is a direct descendant of the original Bitcoin implementation”, released a statement late last week on its website. The main focus was how Bitcoin consensus rules were changed, which is typically through soft forks and hard forks. Hard forks and soft forks do virtually the same thing, so Bitcoin Core argues that soft forks are to be preferred as they do not cause the amount of harm on the Bitcoin network as a hard fork can potentially do since users can choose to upgrade to new features when they want to, or remain or the current Bitcoin....
On January 9th, 2007 the world as we know it was forever changed. Apple Computer CEO Steve Jobs took the stage at the Moscone Center in San Francisco and introduced the world to the iPhone. Nine years later, many have trouble remembering what life was like before the rise of mobile. The average smartphone today is more than one million times smaller, one million times more affordable and one thousand times more powerful than a $60 million supercomputer was 40 years ago. As a result of successive radical innovation, we have truly changed the world, but more important, the world has forever....
A man has accidentally thrown away a hard drive containing 7,500 bitcoins. He is now offering his city 25% of the value of the bitcoins stored in the hard drive for permission to search the city’s landfill site. His bitcoins are now worth almost $300 million at the current price. In Search of Hard Drive Containing 7,500 Bitcoins James Howells, an IT engineer, mistakenly threw away the hard drive of an old computer containing 7,500 bitcoins. The coins, worth almost $300 million at the current price, is now in a landfill site in Newport, South Wales. The 35-year-old explained that he....
Ethereum’s DAO hard fork update landed on GitHub yesterday, allowing users to vote on whether they support the Hard fork that will refund the DAO after the attack that drained around four percent of the total Ethereum (approx. 50 million US dollars worth at the time) in circulation from the smart contract. Ethereum Reaches A Crossroads with Hard Fork Update. This hard fork update, if successful, would wipe one of the biggest failures to happen in the cryptocurrency ecosystem away, giving the people with a stake in The DAO (and others who suffered from the subsequent price depreciation of....