What is the Bitcoin Uranium fork? Everything you need to know!
Bitcoin Uranium (BUM) Forked
Bitcoin Uranium Price:
What is Bitcoin Uranium?
Bitcoin Uranium is a fork of the Bitcoin blockchain that will occur in December. At the predetermined block height, Bitcoin Uranium miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency will be born.What is the purpose of Bitcoin Uranium?
The purpose of Bitcoin Uranium is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole. By changing Bitcoin’s proof-of-work algorithm from SHA256 to Equihash, all of the specialized SHA256 mining equipment will be obsolete for mining the Bitcoin Uranium blockchain. Thus, Bitcoin Uranium will provide an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations. A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision.How can I get Bitcoin Uranium?
The Bitcoin Uranium (BUM) initial coin distribution method is exactly the same as that used by Bitcoin Cash (BCH). All Bitcoin holders who possess BTC private keys in December (block still to be decided) will receive Bitcoin Uranium on the rate of 1 BTC = 1 BUM (If you have 20 BTC you will receive 20 BUM). You need to control BTC private keys in order to make Bitcoin Uranium transactions.
Fork Symbol: BUM
Bitcoin Uranium Fork Date: 2017-12-31 00:00:00
Fork Block: 0
Forked From: Bitcoin
Total Coin Supply: 21,000,000
Total Public Coin Supply: 21,000,000
Pre-Mined Coins: 0
Mining Algorithm: Equihash
Mining Hardware: GPU
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