What is Super Bitcoin (Is the Super Bitcoin team still there?)

What is Super Bitcoin? In the past year, Bitcoin has evolved from a very simple concept to a more efficient, energy-saving, and scalable cryptocurrency. But in the recent surge, some investors have raised questions about Super Bitcoin (BTC): What is Super Bitcoin? What does it mean?

For those who want to understand this issue, it is an exciting question. To answer these questions, first understand what “Super Bitcoin” is.

Why does Super Bitcoin exist? There are actually many discussions about its role and advantages. For example, to increase efficiency and reduce transaction costs, it is necessary to create a new type of blockchain called Bitcoin Cash. This mechanism allows Bitcoin to be used to solve problems inconsistent with the existing system, such as network congestion, without relying on a single entity to process a large number of transactions, thus eliminating centralization.

However, since most mining pools support mining algorithms on private chains, it is difficult to define what a true Bitcoin is. Although many miners believe that this technology has advantages, in some cases, it may render them worthless. Nevertheless, they are still able to use their native cryptographic assets to achieve their goals – increase their income or obtain more rewards by reducing the total cost of mining. This is known as “Super Bitcoin” (Hyperbitcoin), which allows anyone to run their own proprietary cryptographic wallet.

However, when it comes to Bitcoin, we must clearly understand how to introduce complexity to the blockchain. It is currently unclear which projects may want to become participants in this field, but there are some teams actively developing new blockchain protocols to better help them achieve their vision and mission.

First is the network layer based on consensus mechanisms. This is because the blockchain is a decentralized world computer, so each node has a different proof-of-work algorithm; then there is the blockchain that is launched within a specific period and is updated thousands of times per second.

Finally, there is the application layer built around the smart contract platform. Nowadays, people are increasingly considering building applications such as DApps to promote a decentralized future, or decentralized exchanges like Uniswap are starting to emerge.

Of course, these ideas may not necessarily meet the needs of the Bitcoin community. But it is not true. According to a report released by the research firm Gartner: “Since its establishment in 2009, more than 1 billion US dollars have been invested in the creation and marketing of new businesses.”

The original article is from ambcrypto, compiled by the BluemountainLabs team, and the English copyright belongs to the original author. Please contact the editor for Chinese reprint.

Is the Super Bitcoin team still there?

Since the birth of Bitcoin, the most well-known team, “Super Bitcoin” (Bitcoin Core), has never left.

Cobra (Bill Gates), a self-proclaimed founder, developer, and supporter of BCH core contributors, was one of the first to propose the Bitcoin white paper. On May 13, 2020, he announced the establishment of a company called BTC.com. This new service aims to address issues on the Bitcoin blockchain. It allows users to anonymously send tokens and verify block data without the need for third-party involvement to prove their identity. The code for this project is currently open source and publicly available on Github.

However, the term “Super Bitcoin” is not taken seriously, and some community members even believe that it represents an organization or individual that has disappeared or may be leaving. “The first real mining pool should be Bitcoin Cash.”

Nevertheless, some people still question the so-called “Super Bitcoin” and why they did not continue to persist. In fact, most people consider this as a wrong idea: we are now in a state where we are no longer a completely independent company or company. If the bull market in 2013 was driven by retail investors, the bear market in 2019 was caused by the increasing demand from institutional investors for cryptocurrencies, leading to a large outflow of funds and a decline in Bitcoin trading prices.

However, there are two important questions to answer: “How do you view the answers to these questions?” The first question is whether there have really been any new forks. The other question is why the bifurcation occurred. Is anyone trying to use the various events that have occurred in recent weeks to disrupt the Bitcoin ecosystem? In fact, besides the Bitcoin Foundation, other organizations are committed to maintaining their own networks and operations, such as Coinbase and Blockchain Foundation.

For the large non-profit research group Blockstream, the term “Super Bitcoin” is not a new term. Unlike many different projects, Blockstream primarily focuses on specific areas, so it does not explicitly indicate when they should release products or explain in detail why they choose to use “Super Bitcoin”. In addition, there is still work to be done, such as providing software and services for new entities that want to gain high returns through mining, including helping to build node infrastructure, etc. Blockstream has also been considering creating a more inclusive solution that allows more companies to build trust infrastructure based on Bitcoin; in addition, the core part of Bitcoin is also a decentralized storage layer. However, even doing so is only for sustainability. On the other hand, Blockstream has not given up its development as a technical partner.

The original article is from bitcoinist, compiled and translated by the BluemountainLabs team. The English copyright belongs to the original author. Please contact the editor for Chinese reprint.