The thing about Bitcoin and crypto is that it’s a currency invented to be a better currency. And, in our modern world, a very big part of being effective is being secure and scalable. And that’s what this new project is seeking to do: improve the code on Bitcoin.
Like most of anything involving the most well-known cryptocurrency, it’s being done as a group, open project. Ideas for specific changes to make Bitcoin better are being openly discussed among developers. Over 200 individuals are involved and likely more will join the discussion.
And, though advanced code and blockchain technology might be hard for the layperson to grasp, these discussions are still worth examining even if the exact computerized aspects are beyond one’s understanding. Because improvements to Bitcoin not only make it more effective at what it’s made to do, more likely to be adopted—but also setting standards for features and security functions for any other existing cryptocurrency to match or improve.
Though, by the nature of the blockchain and the ideals of cryptocurrency, underlying changes that affect users might come slowly—as it’s decided what works and what doesn’t cause any unforeseen consequences—these changes could bring about all sorts of positive outcomes, both fiscally and regarding public perception of Bitcoin.