Hey guys just as the title suggest I'm hearing rumors of a BitCoin fork on the 28th. I guess my only question is that if my coin is in the exchange.
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- A List of Upcoming Bitcoin Forks and Past Forks
- List of Bitcoin forks
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Fundamentally, these forks arise out of different perspectives on transaction history. This can happen due to delays in the system. As Bitcoin became more and more popular, the blockchain technology it was built on slowed down. This resulted in the entire system becoming unreliable and the transaction fees getting more expensive.
Because of this slowdown, Bitcoin needed to create a solution that would scale as more users bought and sold the product.
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Forks allow for a different development structure and experimentation within the Bitcoin platform, without compromising the original product. The original Bitcoin was developed on 1-megabyte blocks, which was limiting as the cryptocurrency scaled and became more popular. These forks can be developed on larger blocks, and they result in a brand new currency. Buying and selling either original Bitcoin or any of its forks is highly speculative at this point, and you can lose a lot of money quickly. Only spend what you can afford to lose.
There are two types of Bitcoin forks—soft forks and hard forks. A soft fork is a change to the Bitcoin protocol, rather than changing the end product. The big difference between a soft fork and a hard fork is that a soft fork is backward-compatible.
A List of Upcoming Bitcoin Forks and Past Forks
This means that the new protocol will be recognized by old nodes within the system. It also means that there is not a new product being launched,. Hard forks are new versions of Bitcoin that are completely split from the original version. There are no transactions or communications between the two types of Bitcoin after a hard fork. They are separate from each other and the change is permanent. Every node or user is required to upgrade to the new version of the network software when a hard fork occurs.
Technically, the prior version of the blockchain is permanently diverged in a hard fork. The newest version will not accept nodes running the previous network protocols. A hard fork creates a new route in the blockchain. One path obeys protocols for the new, revised blockchain, while the other still follows old network protocols.
After a while, people on the old chain will upgrade to the latest version because they realize their current version is irrelevant or outdated.
List of Bitcoin forks
There are many reasons why cryptocurrencies fork. The table shown below summarizes the main differences between popular Bitcoin forks and gives some reasons of why these forks were created in the first place. Table 1: Popular bitcoin forks. But, nowadays, developers can also decide to fork Bitcoin for more selfish reasons to make a quick profit at the expense of the cryptocurrency coin holders. Any knowledgeable blockchain programmer can fork Bitcoin, since its source code is freely available.
Everyone wants to get free coins, so people are always looking for information on the latest Bitcoin fork. When one group forks Bitcoin, all the original Bitcoin holders are entitled to new coins from the new fork -- so they would likely have more money in their pocket after a fork if they held the original crypto asset that was being forked. If you say you are forking Bitcoin, you will get a lot of free attention because many cryptocurrency media channels are seeking to promote the newest Bitcoin fork.
One example of an advertised Bitcoin fork that turned out to be disingenuous is Bitcoin Platinum. There are three reasons you might care about Bitcoin forks:. For example, the new rules might allow for more transactions per second or provide better security.
View of Blockchains and Bitcoin: Regulatory responses to cryptocurrencies | First Monday
For example, a fork might lower transaction costs for the community or make mining new cryptocurrency easier. Now, someone wants to change the rules but doesn't want everybody to lose their scores.
Thereby, a new game with revised rules is created that will begin with all the players having the same amount of points as they did before the rules changed. For example, if you had points in the original game, you could join the new game and start with points. You could even play both games in parallel and have points in each. In a Bitcoin fork, if you already had bitcoins before the fork, then you would have of the forked coin, too.
You can then sell new cryptocurrency and then convert it back again to the old coin for a small profit. Before, you claim new coins, please do a Google search on the most current checking sources for new Bitcoin forks! As a general guideline, if you expect free coins from an upcoming fork, be careful when claiming them. Never send Bitcoin to another Bitcoin wallet address or give away your private keys just because a newly forked cryptocurrency community has told you to. If the fork is legitimate, then the coins will be available based on your current holdings.
Always research the fork yourself by not only visiting the new cryptocurrency website but also visiting reputable news organizations. Each new forked coin has a different claiming mechanism, but here are two general guidelines:. Find out who the developers are, what their track record is, and how far along they are in their road map. Also, what have other publications written about them, and is there anything that makes them credible? Once you claim your new coins, you can hold on to them or sell them through an exchange.
Since Bitcoin is open source, there have been many forks of its source code. Here is just a brief list of popular past Bitcoin forks. Table 2: Popular past bitcoin forks. Table 3: Upcoming bitcoin forks. NOTE : Snapshot block already occurred; the coin has officially been released and trades on a number of exchanges.
No-premine, proof of stake, CPU mining, 2mb blocks. Block , Bitcoin World BTW. Around December 23rd. Not to be confused with LiteBitcoin. Bitcoin God GOD : No pre-mining, no central team in theory , smart contracts, large blocks, POS mining, lightening network enabled, zero-knowledge proof, etc. Originally said to occur Dec. According to the site: ETH block: Each ETH can claim 0. BTC block: Each BTC can claim 3. From what we can tell, and as a reader pointed out, this iteration of Segwit2x seems to have no direct relation to the last Segwit2x fork beyond its name.
We wanted digital nations, instead we got digital nationalism
Further, there is some who question the legitimacy of this fork. The current iteration is planned for block The smart nod is a nod to smart contracts.
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It is similar to Bitcoin God where it throws the kitchen sink into the mix. Block occurred Jan 24, Snapshot date: The fork occurs February 28th, according to the official site, however no snapshot block height has been announced yet. There is no block announced. This fork seems to have occurred, the information on it is limited. Bitcoin 2 : I will from now on only discuss coins that I can confirm are worth taking seriously with the exception of Clean and Lunar as those were already written.
Big Bitcoin: Bitcoin Cloud: Bitcoin Candy: Bitcoin Lambo: ClassicBitcoin: According to the site, the fork occurs at block Block will be the first bitcoinClean block.
The name implies that it will occur the first day of spring is the 20th March and at GMT according to their Twitter. A fork of Primecoin and Bitcoin, with atomic swaps. It is like the Zclassic fork Bitcoin Private where two coins fork into one. Perhaps not surprisingly it being developed by the developer of Zclassic. It is a fork of Zclassic and Bitcoin. One might think it has the same devs as Bitcoin prime, but one would be wrong.
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Just a similar method of forking. Smart Bitcoin: oddly, not related to Bitcoin Smart.