The Epoch Of Infinite Blockchain Forks Comes To An End

While we are inside the EY and discuss the main risks which can be observed in future of the blockchain industry, what comes up again and again is the maximum rate at which key blockchains are forking and the opportunity that future forks will fall apart large blockchains with critical number.

This issue is significant because we there is a doubt that private blockchains will scale successfully beyond highly specific use cases into a general-purpose platform for digital contracting between enterprises. That option will belong to public blockchains.

The more companies and users are on the same network, the more likely that you will be able to work with key business partners within a common infrastructure.

However, if public blockchains are divided into many different camps, one of their major benefits over private blockchains networks will evaporate.

At this moment, yet, public blockchain forking is as easy as copy – paste. This possible option won’t be competitive and feasible for much longer, however, as real-world assets presented by digital tokens begin appearing on public blockchains.

In case they have not already done so, the agreements for the purchase of these tokens and assets should be rather specific as to what forms the “primary” or “original” blockchain on which the token is located, and external firms participating in the certification and audit should will agree and link these plans.

The function of external firms will be especially significant going ahead. Insofar as blockchains are more and more linked to ownership of real-world assets, checking the connection with these assets will be important for investor confidence.

Still it will be possible to branch out blockchains, but the likelihood that users will come to alternative routes is decreasing every day. These users will be closely linked to their investment assets, which, if they represent elements outside the chain, will have one and only one valid public blockchain representation.

Consequently it will become increasingly important for large public blockchains to develop reliable management models that can manage changes and take into account the views of stakeholders. It is also important that users understand that as they grow older they are likely to become much less dynamic and will change less frequently.