Bitcoin achieved a huge milestone Monday as the Chicago Mercantile Exchange (CME) officially launched its own
version of the bitcoin futures contract.
The launch of Bitcoin futures at CBOE is set to be followed by its cross-town rival, the Chicago Mercantile Exchange (CME) Group, which plans to launch its own
version of Bitcoin futures trading on December 18.
But if you thought that the launch of Bitcoin futures trading ended with CBOE then wait till 18th December when CME also launches its very own
version of Bitcoin futures trading over its derivative platform.
Not exact matches
The implementation
of this protocol by more exchanges and its
future versions may reduce
Bitcoin's transaction fees with more than 80 %.
So if required and if technically feasible, we will be able to support both
versions of bitcoin in
future.
Indeed, for now, certain
futures markets are predicting the price
of the original
bitcoin will be significantly higher post-split than the big block
version (it's unclear how reliable these are).
If these kind
of activities take place regularly, we may see more hard forks
of Bitcoin in coming
future resulting into many
versions of Bitcoin.
Future versions of bitcoin (should
bitcoin remain whole after the fork) and a new Segwit2x
bitcoin (should the hard fork create a new coin) are trading on a handful
of exchanges.
Update, October 29th: It was pointed out to us that according to the FAQ concerning this
futures market, BTCC will after the fork «consider the
version of bitcoin that has the most proof -
of - work behind it as
bitcoin (BTC)».
For the longer term, Bitmain lays out a «
future roadmap» that includes a
version of Segregated Witness, Extension Blocks,
Bitcoin NG, Lumino, Schnorr signatures, Weak Blocks, and
Bitcoin Unlimited - inspired base block size increases up to almost 17 megabytes in two years.
The implementation
of this protocol by more exchanges and its
future versions may reduce
Bitcoin's transaction fees with more than 80 %.
The restoration
of these opcodes will reopen the door to
future developments such as Colored Coins —
Bitcoin's
version of ERC20 tokens — and binary contracts.
If more exchanges continue to accept forked
version of Bitcoin along with the original
version, it could revive confusion and incompatibility troubles in the
future.