Thread by @cburniske: "1/ @alexhevans recently dug into the numbers behind forks of #Bitcoin, #Ethereum, #Monero & #Zcash.
Main conclusion: Value can’t be f [...]" #bitcoin #ethereum #zcash #cryptonetworks #bitcoincash #monero
2/ Secondary conclusion: Despite parent #cryptonetworks retaining users, devs & value, the child forks trade at (puzzling) relative valuation premiums.
3/ To follow are graphs and conclusions from @alexhevans that are relevant to specific actors or ratios (if you're not a fan of long form writing 😉
4/ User behavior after a fork: “the creation of a child chain does not appear to correlate with a decline in daily active users or transaction volume on the parent chain.”
5/ “The loyalty of core developers to the original chain is striking, as the number of top 30 contributors from the original codebase that become exclusive contributors to the child is almost zero” (Graph = Sorensen Dice Coefficient)
6/ Unsurprisingly, most miners are loyal to profit only, “exhibiting highly efficient economic behavior in exploiting opportunities across networks.” (Graph = relative profitability between parent & child chain)
7/ "It is often casually argued that network rents can be 'forked away,' with value flowing to a less rent-seeking fork. While we lack sufficient evidence to confidently reject this hypothesis, early evidence points against it." -@alexhevans
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