If I understand correctly, the protocol has not changed significantly, if at all, since the genesis block.
The original protocol renders key attributes of bitcoin:
- finite supply
- respect of physics (PoW as a consensus algorithm)
- use of secure cryptographic hash functions like SHA-256
I have two questions:
Why do we assume the protocol, or at least these aspects, will not change?
If these aspects were to change, and most nodes would switch to a different chain with the new protocol, would this fork be a “new token”?
For instance, if SHA-256 was broken and 99% of nodes switched to the fork using a more secure algorithm, would the bitcoin token on this fork initially (in the first minutes of its existence) have a low market value?
These are all abstract questions which in all likelihood will have little relevance to actual events. However, they are very useful for my understanding, so I am grateful for help community members can provide.