If the Bitcoin has been forking much so far, the crypto enthusiast needs to hold their breath as the currency has five more forks lined up into this New Year. Looks like the Bitcoin team is wishing Happy New Year to its believers.
Major changes in the underlying protocol lead to split in the current chain, is referred as Fork. This leads to changes in the key features of the Blockchain. This could be planned as well as controversial. Hardfork entails software upgradation which is not compatible with the previous versions
Bitcoin is minting five derivatives throughout Christmas and New Year: Lightning Bitcoin, Bitcoin Uranium, Bitcoin God, Bitcoin Cash Plus and Bitcoin Silver.
Bitcoin Cash was the first hard fork to occur on Bitcoin blockchain, followed by Bitcoin Gold, Bitcoin Diamond and super Bitcoin. Bitcoin Cash has been able to build a strong community for itself since then. It is highly promoted by founder of Bitcoin.com, Roger Ver. The currency has touched an all-time-high of $3,500 in December.
Lightning Bitcoin (LBTC)
Lightning Bitcoin fork is expected to come around December 23rd at block 499,999. LBTC will provide lightning fast payments. Bitcoin would expand its block size to 2MB and support a three-second block time. This derivative will opt for delegated proof-of-stake system similar to Ark’s and would allow building smart contracts on blockchain.
Currently, the currency’s website is inactive and does not have support from crypto exchanges.
Bitcoin God (GOD)
This hard fork project is being led by Chinese blockhain angel investor Chandler Guo, who announced the fork is scheduled on December 25th. There’s a total supply of 21 million GOD coins, and there will be no pre-mine. Guo claims that “the profit from POS mining will be distributed to all Bitcoin God users.” as per his wechat account.
Bitcoin Uranium ($BUM)
As per the article by Colin Harper on coincentral, Bitcoin Uranium has no website and all the information about the fork comes from an October 25th post on Bitcointalk. This coin will be ASIC resistant and its proof of work will support both CPUs and GPUs. This would decrease block time further to 1 minute and will stick with Segwit as against Segwit2x.
Bitcoin Cash Plus (BCP)
Bitcoin Cash Plus update is scheduled for block 501407 on January 2nd, which makes it the first fork of the New Year 2018. It utilizes the Equihash algorithm giving preference to GPU mining. It offers on-chain-scalability with 8MB blocks, same as Super Bitcoin.
It has a key feature of Bitcoin Cash’s Emergency Difficulty Adjustment. This allows miners to easily switch between the BTC and BCP networks, protecting Bitcoin Cash Plus from hashing fluctuations by allowing it to decrease mining difficulty under emergency circumstances.
Bitcoin Silver (BTCS)
Like Bitcoin Uranium, there is no credible news on Bitcoin Silver except the post on Bitcointalk forum. According to the forum, the fork is roughly planned sometime in December. There will be circulating supply of 21 million coins with pre-mine.