The MOAC Story Episode.1
Tags: Moac, Blockchain, Bitcoin

MOAC Founder Zhou Sha:

Let’s set everything else aside for today, because I’m introducing our MOAC blockchain to several big project managers. I wanted to organize my thoughts. Because I wanted to make sure everyone understands what I’m talking about. Everyone grab a seat so that we can all get on the same page.

The MOAC Story Part I:

What is Bitcoin forking?

Everyone’s been confused lately by Bitcoin Gold’s forking. We just had a new fork, Bitcoin Cash, and on the 16th of November we’ll have another called segwit2x, a new version of B2X. Bitcoin’s sired three children in a single year, have they gone crazy? It’s actually because Nakamoto has seemingly disappeared, and the company’s divided. The reason for the division is because Bitcoin has 1M blocks, with a new one being produced every 10 minutes. This makes for only 7 transactions per second. The result is that the casino’s too small. It can only hold 100 gamblers, but there’s 10,000 outside who want in. This led to a disagreement between the miners and the programmers as to how to resolve the situation.

The MOAC Story Part II:

What’s Going on Between the Miners and Programmers?

The Miners’ thought process is very simple. If there are gamblers wanting to buy in to the table, then I earn a fee from it. So the solution is to make the casino bigger. There are different opinions as to how big it should get. Some say that if there’s 200 people that want in, then we should make it twice as big. Others say it should be 4 times bigger. Still others propose more flexibility, and we can adjust depending on how many people come. So it could be a twofold, fourfold, or eightfold expansion. The casino’s so big anyways, so many people come to gamble, and business is good. But the programmers’ thought process is different. They think that only looking at profits is low. It’d be better if we made an addition (a side chain), this lets small-time gamblers play with each other while big players play with their own crowd. This addition was called Segwit. Everyone saw how New York had an assembly, with the miners and the programmers each having to yield a little. So they made an addition and expanded the scope of the main project.

The MOAC Story Part III:

The Storm Inside the Bitcoin Teacup

So the programmers and the miners finally came to an agreement, that is to support an addition (Segwit2x). The first step was to support Segwit, and then add the 2x in November (when the block number reached 2M). The result was that those who didn’t support Segwit went off on their own and made BCC. So when they added 2x in November, some referred to themselves as No2x, meaning that they opposed expansion. People in this group also participated in the new fork BTG. Not only did they oppose expansion, they also deeply despised the ASIC mine. They wanted to revise the algorithm and go back to GPU mining. This became another controversy about whether or not this was according to Nakamoto’s original intention. But the problem was that Nakamoto had disappeared, and his logic was inconsistent even if he did show up. So how could he deal with this division?

Where to Find Us

Website: https://moac.io/

GitHub: https://github.com/MOACChain/moac-core

Twitter: https://twitter.com/moac_io

Reddit: https://www.reddit.com/r/MOAC/

Medium: https://medium.com/moac

Steemit: https://steemit.com/@moac-official

Telegram(International): https://t.me/moacblockchain

Telegram(Developers): https://t.co/8m3m9RD5ix

Telegram(China): https://t.co/73rU9sHWLH

YouTube (Event Channel):https://www.youtube.com/channel/UCBU405W7vfOPBicLwW9-QOA

Youtube (Technical Channel) :

https://www.youtube.com/channel/UC_U54wsGNrm_Yivj5bH9i7Q?view_as=subscriber

Facebook: https://www.facebook.com/moacchain/

Weibo:https://weibo.com/u/6563458350