MicroBitcoin (MBC)MBC
A 2018 hard fork at a 1 BTC = 10,000 MBC ratio that changed proof of work three times and in 2019 restarted on a new network, burning coins that had not moved.
The wiki's angle: MicroBitcoin is the fork that admitted inheriting Bitcoin's history was a burden — after a year it dropped the old chain, kept a snapshot, and burned the coins nobody had claimed.[1]
Fork
The whitepaper says MicroBitcoin was “launched 11 July 2018 as an hard fork of Bitcoin network”, with the decimal point shifted “making 1 BTC equal to 10,000 MBC”[1]. The README treats block 525001 as the “first MBC block”[2]. Bitcoin block 525,000 was mined on 29 May 2018, six weeks before the July launch date[3].
Proof of work
The first blocks replaced sha256d with Groestl, which the whitepaper says proved not to be ASIC resistant once Baikal's BK-G28 supported it[1]. The network hard-forked to Rainforest on 6 March 2019 and to RFv2 on 7 May 2019[1]. The new network uses “YesPower Proof-of-Work” on the Bitcoin Core 22 codebase[2].
New network
On 9 October 2019 the community “switched to new network essentially abandoning old one”[1]. Coins that had not moved since block 525,000 were not snapshotted “and essentially burned”; 44,386,397,362.4252 MBC were activated, out of a 61,000,000,000 MBC cap[1].
References
- primaryMicroBitcoin whitepaper, “MicroBitcoin: decentralized peer-to-peer payment platform for the micro-economy” [archived]
- primaryMicroBitcoin README, GitHub MicroBitcoinOrg/MicroBitcoin [archived]
- primarymempool.space, Bitcoin block 525,000 (header time 2018-05-29 20:24:42 UTC) [archived]