Super Bitcoin, Coming in a Few Blocks: Is the Hard Fork Safe?
"Please remember: ‘This is just an experiment," the project landing page states.
For every hard fork of Bitcoin, there may be more than three million coins that will remain unspent and unclaimed. The risk of inheriting the whole history of Bitcoin also includes wallets forgotten, forever locked or lost, and also the mining rewards of Satoshi Nakamoto.
Now, another contender has come to claim a piece of the Bitcoin brand, forking at height 498,888 and the fork carries the name of Super Bitcoin, or Super Smart Bitcoin, promising extras such as smart contracts and anonymous payments.
"Please remember: ‘This is just an experiment," the project landing page states.
The fork has happened after the designated number was mined by AntPool, and some exchanges are already giving away an asset to trade in place of Super Bitcoin. Gate.io and Yobit are already trading an asset, which peaked at $300 before sliding down toward $200.
More support is expected from Asian exchanges:
> I just published “The future is here. SBTC is moving forward with a relentless heart” https://t.co/5nDqShAtf4 — SuperBTC (@SuperBTC2) December 12, 2017
I just published “The future is here. SBTC is moving forward with a relentless heart” https://t.co/5nDqShAtf4
But the catch is that Super Bitcoin would have a 210,000 pre-mine tied up in a foundation for development purposes. The team, consisting of three developers, is at least not anonymous, but lists just the mysterious positions of "Chief Scientist" and two foundation members.
Apparently, Super Bitcoin would be mined via ASIC, while allowing for a larger block size of 8 MB, as well as plans to implement the Lightning Network technology. Super Bitcoin would also position itself as an anonymous coin with zero-knowledge proofs. At the moment, even Bitcoin offers a layer of smart contracts, but Super Bitcoin lists this feature as a novelty.
Five Things You Should Know About Bitcoin Diamond
The biggest danger of the hard fork would be the wallets, which in this case are unknown. A version of the Electrum wallet is listed on the site, along with several other offers. But the best approach is to wait for large wallet providers to include the asset.
Read More on Compromised Wallets:
How the Bitcoin Gold Wallets Were Exposed: The Fallout
The rush to get Bitcoin Gold early led to at least two cases of risks for private keys, with one theft taking away 300 BTC and other digital assets.
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