According to a new study, the harforks pose a threat to the massive adoption of cryptocurrencies. This is due to the fact that the connection of the blockchain of some cryptocurrency leads to a loss of confidence. In addition, according to the study, such branches reduce the user's confidence in the ability of cryptocurrency to continue to grow as a medium of exchange. It is interesting to note that this year, the appearance of 50 new harforks is planned.
The study of Environment Systems and Decisions, published on the website of the e-journal Springer, lists the factors necessary to ensure the stability of the entire bitcoin. These factors include "setting parameters for key variables that can pre-identify if software changes are needed before network splitting".
Despite a significant increase in the number of divisions in the bitcoin network, the survival of the bitcoin and the remote control system are few and far between. But there are exceptions, including Vertcoin, Dogecoin and Litecoin, which have existed for many years.
Benjamin Trump, the head of the study, pointed out that it would be useful because they would help stabilize cryptocurrency.
Trump, a researcher with the Oak Ridge Institute of Science and Education, has reviewed more than 800 harforks and softforks. The fact that the researcher came to the conclusion that the forks prevent the adoption of cryptocurrency is rather unexpected, as no study has yet made such conclusions.
Unofficially, a similar opinion was published by the American Nobel Prize winner, economist, researcher and bestselling author, Robert Schiller. In one of his interviews, he said that bitcoin could disappear in 100 years - and that the reason would be the harforks.
According to the YouGov, the most common problem preventing the adoption of cryptocurrency is the possibility of using it in illegal activities. 25% of the people who participated in the study believe that cryptocurrency is mainly used to make illegal purchases.
Considering investment in cryptocurrency, the Wells Fargo / Gallup study, published less than a couple of months ago, showed that most investors consider a risky investment. In addition, the absence or uncertainty of regulation is an important factor preventing the adoption of cryptocurrency.