Bitcoin Needs New Proof-of-Work Chain After SegWit2x, Says Bitcoin.org Co-Owner
A new proof-of-work chain will have the support of Bitcoin.org co-owner Cobra, regardless what else survives.
In a dedicated blog post over the weekend, one of the longest-serving members of the Bitcoin community said that if 2x gains enough support, detractors should come together to recreate “destroyed” Bitcoin.
The Core chain, however, will not suffice, even if it survives the hard fork period.
“If the unthinkable happens and 2x wins, it doesn’t mean Bitcoin has been “changed,” it means Bitcoin has been temporarily destroyed, and we need to get to work to collectively recreate it,” he announced.
“We won’t surrender and we won’t compromise. A new hard fork will be released with a new PoW algorithm and we’ll carry on as normal.”
While the standard anti-fork practice is to support the Core chain, Cobra sidelines it in the event the “unthinkable” happens.
“The market and exchanges should be prepared to support three different forks of Bitcoin this November. The original chain, the 2x chain, and the new Bitcoin chain with a better PoW,” he concludes.
“As soon as the new PoW hard fork binaries are released on Bitcoin.org, I intend to fully commit to supporting that chain and calling it “Bitcoin,” even if hash rate returns to the original chain at a later date.”