I am sorry, Terry, but some of you're assumptions are incorrect. There
is no way to 'fork' a wallet. If you have a private key to a bitcoin
address, then the only way to 'fork' that address is to copy it and give
it to someone else. Not even the public key to a bitcoin address
actually goes on the block chain until bitcoins, which have already been
sent to that address, are then subsequently spent from that address.
And the popular Bitcoin wallet used to be Bitcoin-qt, which also
downloaded the entire block chain. It is the original software from
which the Litecoin wallet is now compiled and running. Bitcoin users
abandoned it about a year ago because the block chain became too large.
Litecoin users will have to do the same if Litecoin becomes popular.
Craig
On 03/01/2014 01:58 AM, Terry Blanton wrote:
I don't think litecoin will suffer the errors of bitcoin. With
litecoin, the entire blockchain exists in every wallet. Mind you,
this is a huge database and can take days to create a wallet unless
you order the blockchain on DVD.
Bitcoin only links resident coins to the blockchain along with the
local code of the wallet. Forking will work with bitcoin; but, I
don't see how it can work with litecoin.
The other advantage of litecoin is transaction time. With the
resident blockchain, transactions are almost instantaneous; whereas,
bitcoin transactions can take up to an hour depending on market
activity.
Problem is, you can't buy much with litecoin, except bitcoin. :-)
