Finance:Flippening
The Flippening is an expected paradigm shift[1] in the world of cryptocurrency, where the values of altcoins are no longer primarily based on the value of Bitcoin. It marks the end of the absolute dominance and special status, in the form of market cap and brand awareness, that Bitcoin has had in cryptocurrency markets ever since its inception in 2009.[2]
Background
Most altcoin standards have some technical advantages over the older Bitcoin protocol, like being more scalable and offering faster and cheaper transactions. Some altcoins use newer generation blockchains with added features like smart contracts, while others forego blockchains altogether, and rely on alternative technologies.
In the middle of 2017 there were increasing concerns, or expectations, that Ethereum would eventually take over the role as the most important cryptocurrency in the market.[3] This possible event was dubbed "The Flippening".
Similar expectations that Ripple would be the cryptocurrency to take over started appearing by the end of 2017. This possibility is generally referred to as "The Rippening".[4]
See also
References
- ↑ Buntinx, JP (March 18, 2017). "What Is the Flippening?". The Merkle. https://themerkle.com/what-is-the-flippening/.
- ↑ Oberhaus, Daniel (June 13, 2017). "Bitcoiners Are Freaking Out Over 'The Flippening'". Motherboard. https://motherboard.vice.com/en_us/article/gypwqq/bitcoiners-are-freaking-out-over-the-flippening.
- ↑ Memoria, Francisco (June 14, 2017). "The Flippening: Is Ethereum Set to Become the #1 Cryptocurrency?". CCN. https://www.ccn.com/flippening-ethereum-set-become-1-cryptocurrency/.
- ↑ Sedgwick, Kai (January 3, 2018). "Rising Ripple Threatens to Usurp Bitcoin and Usher In "The Rippening"". Bitcoin News. https://news.bitcoin.com/rising-ripple-threatens-usurp-bitcoin-ushering-rippening/.
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