- $BTC once had bug 74638 that generated 184 billion coins?
- The initial total supply of $APT and $NEAR was 1 billion coins, but is now > 1 billion. Has it been changed?
-The total supply of $ETH is infinite, is there inflation?
Circulating supply, total supply, and maximum supply. Simple but easy to mistake
1. Concepts
-Total supply: total circulating supply and locked and unlocked tokens/coins
-Max total supply: maximum number of tokens/coins that will exist, including the number that will be mined in the future
-Circulating supply: Is the number of tokens/coins in circulation
2, Maximum total supply
-Is the maximum total that can be mined in the future
-Encoded in the code from the time of creation of that coin/token.
For example: Max supply (maximum total supply of $BTC is 21 million coins), of $ETH is infinite
3, Can the Max supply be changed?
-Many people ask if it is possible that an infinitely generated coin like $LUNA leads to a massive decrease in price, so has the maximum total supply been changed?
-And contact the case of other layer1 such as $SOL, $NEAR, $APT,...
4, Can the Max supply be changed?
- Actually NO
- Max supply is fixed from the project's inception, and can it be changed?:
+1) Hard Fork (reform): can replace max supply by creating a new version of the coin and removing the old version
+2) Proposal: If you hold 51% of the node power, you can change transactions, but you cannot change the max supply
Besides, controlling 51% of the power of a decentralized network is not feasible.
5, In 2010, bad guys created the bug CVE-2010-5139, causing block 74638 to generate 184 billion $BTC. Within 2 hours, Gavin Andresen and Satoshi Nakamoto solved it.
-But in reality the max supply of $BTC is still only 21 million, this incident basically did not generate any additional BTC
6, Conclusion
-Thinking that the coin is inflated and the max supply is changed is WRONG, it cannot be done
-You should differentiate between max supply and total supply because you can read incorrectly, misunderstand the project, and make wrong estimates when investing.
Many thanks for reading
#Research#Crypto#Bitcoin
