After several popular hard forks on the Bitcoin blockchain in 2017 such as Bitcoin Cash and Bitcoin Gold, a new fork is on the horizon – the FoxBTC hard fork which will be performed by tech company Z-Magnetars. According to the latest news, the fork will happen on April 30th at block height 520419.
Forks like these are important for the decentralization of Bitcoin. Thanks to them, anyone can change the protocol and technical specifics such as the mechanism, block size, interval, mining incentives and other things. And while 2017 was the year of first major forks with two coins created (Bitcoin Cash and Bitcoin Gold) it seems like 2018 will follow the trend with FoxBTC as the first one on the list.
Bitcoin Cash aimed at improving the scalability of Bitcoin by increasing the block size to 8MB. Even though there were a lot of skeptics about it, the price of BCH peaked at $3,900 with a market cap of $65 billion.
Bitcoin Gold, on the other hand, was another major fork in 2017 which aimed at restoring decentralization of miners by enabling GPU mining. The new Proof of Work mechanism and Equihash function made the price of Bitcoin Gold peak at about $490 with an all-time high market at $5.9 billion.
FOXBTC, on the other hand, aims to empower the company-based forking in the crypto markets by enabling the users to store and exchange any airdrop. All users will be rewarded on a 3,6 and 12 month basis through the airdrop program.
Similar to Bitcoin, FOX BTC will have a limited supply with around 16.5 million coins put in circulation, 5.5 million coins in the hybrid Proof of Stake + Proof of Work mechanism and 5 million coins allocated for the airdrop.
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