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Multiple blockchains including Bitcoin and Ethereum had to be forked to avoid perpetuating the state caused by exploited bugs or for other reasons. This implies
by AstralStorm 5y ago
Multiple blockchains including Bitcoin and Ethereum had to be forked to avoid perpetuating the state caused by exploited bugs or for other reasons. This implies that the state before the fork is untrustworthy, doesn't it?
- joshspankit 5y agoSo here’s my position on that: For the longest time I thought “when they crack the encryption, BTC will instantly turn to value-less dust” and so therefore thought it was limited to being of short-term use BUT the technology does not matter in a sense. Because the chain of ownership is clear and transparent, BTC (and other blockchains) could switch technology in an instant and still maintain the record of value. Through this lens, I’m not at all concerned about bugs or forks because we’ve reached a point where the majority of the network is focused on the absolute correctness of the ledger. Everything else might as well be a mosquito on the highway.