Velvet has always been a sign of nobility, but in the crypto space, it's now the name adorning a new and promising way for upgrading blockchain software.
At least that's the hype behind "velvet forks," a mechanism for upgrading cryptocurrency code that has some high-profile crypto enthusiasts intrigued.
"We think the most interesting part is the idea that you can introduce some new concepts to permissionless blockchains without necessarily having a majority of consensus participants agree to do so," said Imperial College London research assistant Alexei Zamyatin.
And that complex statement cuts to the core of why Zamyatin and others believe velvet forks might be beneficial.
https://www.coindesk.com/soft-hard-velvet-new-fork-promises-crypto-upgrades-without-controversy/
