What is the New Bitcoin Issuance (Bitcoin Introducing New Currency)

08/16/2023 23:28 • Daily Digest • 78 views

What is the new Bitcoin issuance? Editor’s note: This article is from Cointelegraph China (ID: CointelegraphChina), author: JOSEPH YOUNG, authorized to be reproduced by Odaily Planet Daily.

According to official news from the Bitcoin Core team, Bitcoin Core is developing a new algorithm to make changes to the old coin blocks, issuing a new block on the Bitcoin blockchain and allowing each new block to be added to the system. Without these changes, it means that the network will no longer need any additional work to process transactions. Therefore, in order to ensure the continued operation of the network, Bitcoin Core plans to complete its upgrade before January 2, 2021.

For those who wish to use this method, it is a very meaningful idea. Although this idea may be a bit exaggerated or absurd, it is indeed exciting. However, in the long run, this suggestion is still important. What is the new Bitcoin issuance? According to data from bitinfocharts, the price of Bitcoin has risen by more than 100% since the first quarter of 2020.

There have been some notable news in the past few weeks. First, the Office of the Comptroller of the Currency (OCC) announced the approval of a one-year new encryption regulation to share information with banks and payment service providers. Secondly, according to a tweet user, the decision caused a sensation by a public letter from former Deputy Secretary of the Treasury Brian Brooks, who pointed out, “What we must make clear is that we cannot guarantee that there will be no problems.”

Another major bullish news is that China is also on the verge of promoting digital renminbi on a large scale. “This is something I have been following,” commented James Wo. “I think this may be one of the most important issues in my opinion.”

However, there is another thing to consider, which is that the new Bitcoin issuance scheme is still unknown. The main purpose of this update is to modify the code of the old version, rather than limit them by increasing the block size.

Bitcoin Introducing New Currency

According to coindesk, Bitcoin recently issued a new currency called “BTCK,” with the code name BitcoinKe. According to the official introduction, “BTCK” is a new digital currency developed and verified using the Proof of Work (PoW) algorithm. It is reported that on December 1, 2018, the issuer of Bitcoin, Satoshi Nakamoto, publicly announced this statement for the first time. According to the news released at that time, this project was called “Cashk.” Although there is no exact date for its release at present, the company stated that this is not the first time their team has decided to launch their own cryptocurrency.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/24580.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

What is the New Bitcoin Issuance (Bitcoin Introducing New Currency)

Bitcoin Introducing New Currency

Related recommendations