Bitcoin sidechain Fractal Bitcoin mainnet launch controversy: 50% token pre mining, low-quality fork chain
What is Fractal Bitcoin?
Fractal Bitcoin, led by Bitcoin wallet provider UniSat and Web3 investment firm Block Space Force, announced that its first memory block was mined on September 9th, marking the official launch of the main network of this Bitcoin sidechain. This project aims to enhance the scalability of Bitcoin by using Bitcoin Core code, which is different from other Bitcoin scaling solutions.
Lorenzo, the head of UniSat and a core contributor to Fractal, stated:
The launch of Fractal on the mainnet is a critical moment for the Bitcoin ecosystem. It provides developers with a powerful platform to experiment, innovate, and build native solutions on Bitcoin without relying on external architectures
Fractal represents scalability achieved through a technique called 'recursive layering', which allows for the creation of multiple independent layers on top of Bitcoin, each capable of increasing the throughput of Bitcoin's Layer 1 by 20 times. Officially, transactions executed on Bitcoin Layer 1 will take approximately 10 minutes to confirm, while the confirmation time for memory blocks in Fractal will be less than 30 seconds,
Since its launch on the testnet in July, Fractal has attracted 1.5 million independent addresses and processed 13.6 million transactions. According to UniSat's data, the current computing power of the network is 11.23 exahash/s, accounting for approximately 1.9% of Bitcoin's total computing power.
However, after the launch of the Fractal Bitcoin mainnet, there were many voices of doubt in the community.
Fractal pre excavation dispute
The native token FB of Fractal was also launched simultaneously on September 9th, but half of the total tokens have been pre mined, with 15% allocated to core contributors, 15% to ecosystem vaults, 10% for community subsidies, 5% for advisors, and 5% for pre-sale investors. The remaining 50% of tokens will be used as rewards for proof of work miners.
Fractal uses a hybrid merge mining mechanism called Cadence Mining. One out of every three Fractal memory blocks will be merged with the Bitcoin mainnet for mining, while the remaining two memory blocks will be mined natively. Merging mining memory blocks allows Bitcoin miners to participate in the security maintenance of fractals.
The issuance of tokens follows a two-year halving cycle, with 52.5 million tokens released in the first two years and 25 FB tokens rewarded for each memory block. Fractal also plans to introduce a tokenization governance mechanism based on FB in the future.
However, Fractal has been criticized for its pre excavation behavior. Mempool founder Mononaut pointed out that pre mined tokens can be used immediately, which leads to excessive concentration of control over token supply in the hands of insiders. Mononaut tweeted:
If everything goes according to plan, it will take miners two years (i.e. half of the entire Fractal cycle) to mine half of the tokens allocated to them by the founders on the first day
In addition, Mononaut described Fractal as a "hastily copied" version of the Bitcoin core v24.0.1 codebase, with only some consensus modifications and "code copied from Namecoin and Bitcoin Cash" added. He said, "In my opinion, this is just a low-quality forked coin
Introducing OP-CAT to Implement Smart Contracts
On the other hand, Fractal also introduced support for OP-CAT, an opcode disabled by Satoshi Nakamoto in 2010 that enables smart contract functionality on Bitcoin.
Although Satoshi Nakamoto was concerned that the opcode could become one of the vulnerabilities for attacks, his co-author Ethan Heilman publicly solicited developers to analyze the potential vulnerabilities of the opcode in 2019, but did not receive any response.
The approach of introducing OP-CAT differs significantly from most Bitcoin scaling schemes, which choose to introduce smart contracts through support for Ethereum Virtual Machine (EVM) and Ethereum's Solidity programming language.
Fractal Ecological Subsidy Program
So far, over 100 projects have announced plans to launch on Fractal. Fractal has also launched a subsidy program to support developers who wish to build new applications on its platform, with a focus on decentralized finance (DeFi), gaming, and NFTs.
Fractal will also launch a decentralized exchange called PizzaSwap on the network and plans to support existing Bitcoin token standards, including BRC-20, Runes, and Ordinals.
(责任编辑:财经专题)
-
必须保持蒸蒸日上的内在精神,要乐观地应对一切的变化。...[详细]
-
3.可视化管理:所见所得,让你掌控每一个设计细节,从布局到元素提供全自由度的设计掌控。...[详细]
-
而且这篇论文充满了大量数据分析,让人想反驳都无力还手。...[详细]
-
所以做汽车相关的事业,就得抓住核心,管它是汽油还是电动,必须要紧抓汽车的发明就是为了让人类拥有更快的速度,速度是其本质。...[详细]
-
公钥:Coinbase 黑客事件余波、MSTR 法律纠纷以及对稳定币好奇的华尔街
问问看你自己: •我坚信什么能给世界带来极大的改变? •我的内心召唤我去做什么? •我的目的是什么? #6解决一个难题 成功的创业就是解决问题。...[详细]
-
湖北自贸概念31日主力净流出2.23亿元,东湖高新、烽火通信居前
洪泰基金创始合伙人俞敏洪现场演讲 当天,总共有126家创业公司的创始人到会。...[详细]
-
弹幕最早是军事用语,原意指用大量或少量火炮提供密集炮击。...[详细]
-
实际上,这种模式已经越来越难做下去了。...[详细]
-
其次,如果你心意已决,决定在这个领域深耕,那么就要找到自身优势,整合行业资源,选择一条合适的路线,做特色差异化产品抢占市场。...[详细]
-
但是也不能跟我一样太纠结了,哈哈。...[详细]