If an upcoming onerous fork entails a change to new methodology for key-pair/deal with technology, how precisely is it going to be carried out? How would all of the previous addresses going to vary to ones which are suitable with the brand new algorithm and the way is the switch of possession going to be carried out precisely?
For the blockchain to maintain the identical state after the fork, there must be a brand new deal with for every previous (incompatible) deal with that holds the identical quantity of BTC and has the identical proprietor.
A technique I can consider is including assist for each the previous and new key-pair/deal with technology strategies quickly, after which immediate all homeowners holding addresses generated utilizing the previous methodology to ship their BTC to new addresses generated utilizing the newer methodology, and eventually dropping assist for the previous methodology. With ~30 million distinctive BTC addresses as of at this time, and a present block dimension able to processing 2-7 transactions per second, this transition would wish between 50-173 days to finish, throughout which the blockchain is totally incapacitated, and miner charges being greater than ordinary. I suppose it might additionally lure any BTC that hasn’t been transferred to a brand new deal with by homeowners in a well timed method inside the previous, incompatible deal with.
