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Author: Admin | 2025-04-28
Proposed change receives enough support, it may eventually be adopted into the core protocol.The potential impacts of changing the core protocolChanging the core protocol of Bitcoin could have significant potential impacts. One possible impact is that it could go against the core investment thesis of scarcity. Bitcoin’s hard cap of 21 million coins is a fundamental aspect that makes it appealing to investors.If this cap were changed, it could affect the value and perceived scarcity of Bitcoin.Additionally, changing the core protocol may require a consensus from the Bitcoin community. This means that all stakeholders, including developers, miners, and other participants in the network, would need to agree on the proposed changes.Achieving consensus can be challenging due to differing opinions and interests within the community.Any changes made to the core protocol should be carefully considered as they can have far-reaching consequences for the stability and functionality of the Bitcoin network.Developers play a crucial role in ensuring that changes are thoroughly tested and do not introduce vulnerabilities or disrupt existing functions.ConclusionThe Bitcoin core protocol can be changed by anyone through Bitcoin Improvement Proposals (BIPs). However, these changes must be approved by an editor and receive a 95% majority vote from the Bitcoin community.It is important to remember that any changes made to the core protocol should align with the investment thesis of scarcity and maintain the decentralized nature of Bitcoin.FAQWhat does it mean to change Bitcoin Core?Changing Bitcoin Core means making adjustments to the Bitcoin software. This can include changes to its core functions or rules, like altering the 21 million cap on Bitcoins.Who can make these changes?Bitcoin Improvement Proposals (BIPs) are a common way for people to suggest changes. But only certain GitHub employees who manage the Bitcoin repo can put them in place.How are changes agreed upon in the Bitcoin community?Changes need broad agreement from all parts of the Bitcoin community – this is called consensus and includes miners and other stakeholders.Does changing something about Bitcoin impact scarcity?Yes, some changes could affect aspects like Bitcoin’s scarcity. For example, raising its 21 million cap would create more Bitcoins and lessen their
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