Can someone who understands the implementation details better than little ol' me explain how a new coin and a swap thingie would be different/better than simply hard-forking the chain as is with new witnesses?
Legit, I just don't understand the technical difference. Please enlighten me.
It is mostly a matter of a new name and new Chain ID which is a low level sequence of numbers which is what allows nodes to know if they are communicating with other nodes on the same chain. Steem has one Chain ID and the new chain will have a different one.
The existing chain will continue unaffected.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
So in practice, it is just taking the existing code, changing the chain ID marker, and spinning up a bunch of witnesses? That's easier than forking the existing chain?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is both that and forking the existing chain. There are multiple ways to fork a chain, this being one of them.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit