Cryptocurrencies are developing and improving, and there is a tendency that hard forks of the coins occur at newly created blocks. A hard fork is a change to the protocol that loosens the ruleset enforced by full nodes. Hard fork is the changes to the programming of the coin that create incompatibilities between the older and newer version.
Talking about that, latest in the Bitcoin news is the upcoming Bitcoin Hard Fork, which goes by the name of BitcoinZap. Not too much information has been unveiled at this time, but it is evident that this is another attempt at bringing two currencies together in a meaningful way.
Not much has been currently revealed about BitcoinZap. As the community has noted with various Bitcoin hard forks in the past, such projects mainly rely on hype and speculation to build interest. Bitcoin will always be Bitcoin, and anything derived from it through a hard fork or otherwise will be an altcoin. The coin’s details are to be released on 21st of May.
Apparently, the BitcoinZap project is a fork whose main objective would be to focus on aggressive transparency and a clear developed roadmap. The roadmap may be released with the white paper release on 23rd May, but would more or less focus about the BitcoinZap details and its prospects. The promise of a “coin that will not only innovate but also conflate into a bright future” leaves a lot of room for speculation, although it is important to keep one’s expectations in check.
Going by the hard fork’s name, it seems BitcoinZap will try to ride Bitcoin’s coattails. A number of other hard forks have tried to do so, and Bitcoin Cash is the only one that’s scored any major success in this regard. Bitcoin Gold, Bitcoin Private, and the upcoming Anonymous Bitcoin have not done any significant improvements when it comes to hard fork.
With the BitcoinZap mainnet not launching until August 18, there isn’t much to be excited about until that date comes around. There’s also the question of who the developers of this project are and whether or not they can actually deliver on their promise to launch the mainnet by that date. Unsurprisingly, there will be an attempt to get BitcoinZap listed on at least three exchanges prior to the launch of the mainnet, which seemingly confirms this will be another ‘money grab’ first and foremost.
As this new method of launching altcoins become a success, many more bitcoin hard forks will move forward. The debate over the fact if Bitcoin should bring many more of its versions to the market will be decided over time. Once BitcoinZap objectives are disclosed and seen as successful attempts, nothing can be said with confidence about the prediction of this bitcoin hard fork’s success.