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BitMEX to launch its own software client

bitmex to launch own client

BitMEX has released the news of launching its new Bitcoin client on October 17, 2018. The R&D department of the BitMEX stated that in competition with Bitcoin Core the personalized client would help Bitmex compete with the reference implementation.

The BitMEX research discussed that to destruct the monopoly of Bitcoin core, the exchange will release its personal Bitcoin software client for the growth of cryptocurrency and to increase the ability to make changes in Bitcoin s rules.

Many cryptocurrency trades and organizations believed that Bitcoin Core is the only one to control changes in Bitcoin rules. To overcome this confusion among miners and trades the R&D team (BitMEX research) disclosed the benefits of having its personal Bitcoin client software. They further discussed the consequences if the Core software got stolen or removed by mistake.

In blocksize war, firstly people believed that miners and large companies could change the Bitcoin rules then they claimed that Bitcoin core has the authority to control the Bitcoin rules. However, according to BitMEX research; if they look deeper, they will come to know that end users or consumers are the ones who can control the protocol rules.

Therefore, neither the miners nor the Bitcoin core is the in charge of making changes in protocol rules.

To use Bitcoin Core, BitMEX had to rewrite the codebase and the Bitcoin core failed to incorporate the new risks and uncertainty issue to the system. Therefore, BitMEX has decided to launch its own client software fork. As it is the fork of BTC core, so if it got removed or stolen the code-base will still perform by using the BitMEX research source.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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