[2017-11-29] The First DPOS Lightning Bitcoin Hard Fork is on the Way

[jamids]

After Bitcoin Gold, Bitcoin Diamond and Super Bitcoin, another forked-coin Lightning Bitcoin is coming on the way. Initiated by an European team, Lightning, the project will become the first forked-coin that adopts the DPOS consensus mechanism.

The new project Lightning Bitcoin (LBTC) will fork at block 499,999 on or around December 23, 2017. Why lightning? The team aims to make Bitcoin transfers as fast as lightning, or at a maximum of 24 million transactions a day. How can that happen? The answer is the DPOS mechanism, according to the project’s proponents.

The POW mechanism has long been discussed as the cause of mining centralization and network congestion. Daniel Larimer, author of Delegated Proof-of-Stake Whitepaper explained that miner tycoons control block time to maximize their interests, which will ultimately along with all POW systems be controlled by the fiat system. As such, the Lightning team employs DPOS mechanism that gives voting rights to token holders to avoid control of the system by any party. According to its official website,

"The DPOS consensus will significantly reduce the number of participating verification nodes and help LBTC reach consensus in seconds and boost the transaction speed to really be as FAST as lightning."

The project hasn’t revealed its development team today, except for the Chinese community leader “Jack Zhang”. But on its website we can see that they already got support from exchanges CEX.io, BTCC, gate.io and Coldlar wallet.

Read more here: https://news.bitcoin.com/the-first-dpos-hard-fork-lightning-bitcoin-is-on-the-way/

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[btcton]

Just to be clear, while this team has the word "Lightning" in the name of the project, this is not actually the lightning network that has been talked about previously in regard to the main Bitcoin blockchain, correct? Even one of the commenters on the article was confused about this. I automatically assume this is the case with this project since not even the development team has been released to the public, which is something the main Bitcoin dev team would certainly do quickly. Furthermore, will a hard fork be required even with the actual lightning network or is it just for separation measures that this developer team has decided to do it instead of collaborating on the main chain? I am certainly wondering whether this fork might be a change from all the scam forks that have been coming out, but I won't get my hopes up.

[nikisev]

We kind of back to beginning.
ETH tokens Airdrops are less.
ICO are more regulated and sane.
So lets try to fork BTC to the death.
I like forks, it bring new value from nowhere.
The main lesson from all these forks is that it does not affect BTC itself.
Which is awesome.

[1Referee]

We kind of back to beginning.
ETH tokens Airdrops are less.
ICO are more regulated and sane.
So lets try to fork BTC to the death.

People in this market are very creative. If other ways of booking massive profits are more and more limited, the entities behind all this rubbish will look for alternatives, and in this case it seems to be forking Bitcoin. People are so used to this, that they don't see forks as a threat anymore like how they used to before Bitcoin Cash came into existence.

I like forks, it bring new value from nowhere.

Greed that I to a certain extent can definitely understand. These forks will happen whether we as regular Bitcoiners like it or not, so why not take advantage of this opportunity and dump the shit out of these fork coins. I still haven't cashout out a single BTG. I'll just wait for the pump to happen, which is just a matter of time.