Ample Money : The First DPOS Lightning Bitcoin Hard Fork is on the Way

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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.

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Fork at Block 499,999

The new project 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 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.

Who is Behind the Project?

Jack Zhang

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 , BTCC, and Coldlar wallet.

 The Initial Coin Offering Craze

Since Bitcoin Cash came out, Initial Fork Offerings have become a trendy way for new blockchain projects to receive funding. Now we have witnessed the success of Bitcoin Gold(BTG) and Bitcoin Diamond(BCD). Despite concerns about its , BTG ranks in the top 5 for market cap. And the newcomer . With these successful examples, there will be more projects bearing the name of Bitcoin to save listing and advertising fees.

Will the Initial Coin and Fork Offerings evolve to Infinite Offerings? How will it impact Bitcoin? Leave your thoughts on the comments section below.


Images courtesy via Shutterstock and Lightning Bitcoin


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