Comment on Bitcoin mining is no longer profitable
locuester@lemmy.zip 20 hours agoIt’s the same with all the chains. An algorithm change is a hard fork. If you don’t implement it, your validating node will not continue with the rest.
Bitcoin has the BIP (Bitcoin Improvement Proposal) process. BIP-52 is an example of a proposal to change the algorithm due to energy concerns.
If the humans reach consensus it will change. However, I maintain that software can’t be programmed to adjust for social concerns - the humans have to change it.
Hirom@beehaw.org 17 hours ago
Good point, with BIPs the Bitcoin community is more adaptive than I gave it credit for.
It still doesn’t prevent soft nor hard fork. My understanding is that a change in consensus logic require ALL users/miners need to deploy the new software to avoid hard forks. That’s impossible in practice. So a BIP to change the consensus logic would necessary cause a hard fork.
Not all chains handle this the same way nor suffer from this. Tezos for instance made its improvement proposal system part of its core. Using Tezos means automatically accepting chain and consensus logic change if they are approve.
Bitcoin sure have more hype and higher price, but appears to have more difficulty evolving compared to others.