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How does a block chain prevent double-spending of Bitcoins?
Filed under: Tech. Bitcoin has split in two, so you can have double the cryptocurrency New, 10 comments. Share this story Share this on Facebook Share this on Twitter Share All sharing options Share All sharing options for: Bitcoin has split in two, so you can have double the cryptocurrency.
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Next Up In Tech. Sign up for the newsletter Verge Deals Subscribe to get the best Verge-approved tech deals of the week. The Bitcoin split — which as of today appears to have gone smoothly with an effortless transition into two parallel blockchains and two virtual currencies — is the first public proof-of-concept of the decentralized and consensus-driven nature of blockchain technology. This is likely to give a confidence boost to the growing number of applications being developed using the platform — IBM for example forecast that by , two-thirds of banking organizations will be using blockchain-based apps.
How to split your coins using Electrum in case of a fork — Electrum documentation
While many of these are likely to differ vastly in both concept and philosophy from the somewhat libertarian, anti-establishment image of Bitcoin, they are likely to be hugely disruptive in their own way. Forecasters believe that this technology will form the backbone of machine-to-machine communication and commerce as the Internet of Things continues to grow and evolve. Since its inception many have predicted that Bitcoin would be nothing more than a flash-in-the-pan — after all, something as monumental as disrupting the fiat-based, global system of currencies and commerce was always likely to produce excessive skepticism.
Bernard Marr is a world-renowned futurist, influencer and thought leader in the field of business and technology.
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