2015 has been an interesting year. We've seen the rise and fall of the Bitcoin price, the emergence of the Blockchain driven by banking interests, and a slew of new Bitcoin companies emerge onto the scene.

What will 2016 bring? Here are my predictions:

Block reward halving

  • July 19, 2016
  • this is where the Block Reward for Bitcoin miners cuts in half, scheduled to happen every 4 years
  • effectively lowers the ROI for miners who invested/purchased mining hardware when BTC was worth more and the block reward was worth more
  • will lead to greater mining centralization unless concepts like the 21 Bitcoin Computer are able to distribute hashing power across a greater number of mining nodes
  • will still lead to mining pools controlling more hashing power

CHECKLOCKTIMEVERIFY - BIP 65

  • Just like multisig was the big news this year (Coinkite, and BitGo launched their multisig features in 2015), CHECKLOCKTIMEVERIFY will add new features and capabilities to Bitcoin transactions that weren't possible before
  • Delayed payments
  • Refund transactions
  • Distributed Contracts (aka Smart Contracts on the Bitcoin Blockchain)
  • watch for companies offering services built around CHECKLOCKTIMEVERIFY

Contact the Vanbex Group
Brandon Kostinuk
Marketing & Communications Manager
Email: b@vanbex.com
PH: (604) 312-2463

Share this post on: