In the world of Bitcoin, there have been numerous hard forks over the past few months. Not all of those forks have been successful, which is only to be expected. It now seems there will be another fork that users should be aware of, which goes by the name of BitcoinZap. Not too much information has been unveiled at this time, but it is evident that this is another attempt at bringing two currencies together in a meaningful way.
WHAT DO WE KNOW ABOUT BITCOINZAP?
So far, only the briefest of announcements has been made regarding BitcoinZap. As the community has noted with various Bitcoin hard forks in the past, such projects mainly rely on hype and speculation to build interest. Bitcoin will always be Bitcoin, and anything derived from it through a hard fork or otherwise will be an altcoin.
BitcoinZap will not fare any better in this regard, even though most of its specifics have yet to be unveiled. That will occur on May 21, even though it is not necessarily a date most people will put on their agendas. Hyping a project prior to releasing its details usually hints that nothing significant will be announced when people expect it.
The BitcoinZap project is a fork of some sort, and it will focus on aggressive transparency and a clear developed roadmap. Since that roadmap won’t be revealed until a few days from today, it is evident there will be a fair amount of speculation regarding what BitcoinZap entails exactly. The promise of a “coin that will not only innovate but also conflate into a bright future” leaves a lot of room for speculation, although it is important to keep one’s expectations in check.
As the name somewhat suggests, it seems BitcoinZap will try to ride Bitcoin’s coattails. Whether or not doing so will pay off remains to be seen. Various other hard forks have tried to do so, and Bitcoin Cash is the only one that’s scored any major success in this regard. Bitcoin Gold, Bitcoin Private, and the upcoming Anonymous Bitcoin are all in far worse shape, but that is somewhat to be expected.
With the BitcoinZap mainnet not launching until August 18, there isn’t much to be excited about until that date comes around. There’s also the question of who the developers of this project are and whether or not they can actually deliver on their promise to launch the mainnet by that date. Unsurprisingly, there will be an attempt to get BitcoinZap listed on at least three exchanges prior to the launch of the mainnet, which seemingly confirms this will be another ‘money grab’ first and foremost.
It is evident that there will be a lot more Bitcoin hard forks moving forward, as this is the new preferred method of launching altcoins. Whether or not the world needs more versions of Bitcoin which may not necessarily bring anything new to the table is up for debate. Until we know what BitcoinZap attempts to achieve exactly, there will be a lot of speculation as to what this project is really all about.