The chicken or the egg? It seems that this question is more than relevant in the crypto sphere. However, the words 'chicken' and 'egg' better be replaced with 'Bitcoin' and 'Bitcoin Cash,' as the US government scientists argued.
The National Institute of Standards and Technology (NIST), which is a non-regulatory agency of the US Department of Commerce with about $1 billion yearly budget, has issued an insertion to mechanisms abaft the first cyber coin in the world – BTC. In other words, the agency released a CCN, the NIST document contains several actual infelicities. First of all, the website points out that Bitcoin Cash could not have been the first one to appear as long as it came out just in August 2017 due to the hard fork.
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Secondly, according to the website, the paper falsely states that Segregated Witness, which is a scaling resolve launched on the BTC network around half a year ago, was executed via a hard fork. If that were true, it would have helped SegWit-authorized software customers inconsistent with long-standing software releases. However, indeed, the solution was turned on via a soft fork. Therefore, it is consistent with bequest BTC software.
In reality, the repulsion to rendering active a hard fork on the basic blockchain without sufficient trial is one root that SegWit2x did not receive enough of backing and, finally, it was canceled by its genuine supporters. And SegWit2x, by the way, was an offered upgrade which would have enlarged BTC’s block extent to 2 megabytes in overlap with the launch of Segregated Witness.
Whether the report by the NIST has a point or not, remains to find out. Hence, the institute is going to receive the recalls from people on the paper until Friday, February 23.
