All Bitcoin forks: Cash, Gold, Diamond, HOT, XT, Classic, ABC etc

bitcoin-forks

What is Bitcoin Fork?

A fork is what happens when a blockchain diverges into 2 potential paths forward — either with regard to a network’s transaction history or a new rule in deciding what makes a transaction valid. In a very simple way we can see blockchains as cryptographic keys that move memory. The rules by which the memory is moved are set by the miners themselves. You’ve got miners that understand the rules and when you wanna change those rules you need to fork it.

You can have a fork where a certain minority believe that the truth and valid blocks are different and it’s just the majority of the miners that need to agree with this situation.

Client Bitcoin forks

A client is a piece of computer hardware or software that accesses a service made available by a server. The server is often on another computer system, in which case the client accesses the service by way of a network. The following are forks of the software client for the Bitcoin network derived from the reference client, Bitcoin Core:

  • Bitcoin XT
  • Bitcoin Unlimited
  • Bitcoin Classic
  • Bitcoin ABC

Coin splits

A hard fork is a software upgrade that introduces a new rule to the network that isn’t compatible with the older software. These are coin splits of the digital currency Bitcoin, created intentionally via hard forks of the blockchain:

  • Bitcoin Cash
  • Bitcoin Gold
  • Bitcoin Diamond
  • BitcoinX
  • UnitedBitcoin
  • Bitcoin Hot
  • Super Bitcoin
  • Lightning Bitcoin

Cancelled coin splits

  • SegWit2x

Are forks good for bitcoins?

Any potential for lost coins can scare users away from using a particular cryptocurrency.

Many specialists say that These forks are very bad for bitcoin because saturating the market with different versions of bitcoin is confusing to users, and discredits the claim that there are a limited number of bitcoins. Often forks are associated with great anxiety and panic within a cryptocurrency. Others say – every day the honey badger survives, every day that bitcoin survives, it fulfills more and more of this quality of being a store of value. It always picks the longer, the better, the stronger chain with more people. While these forks may be annoying, in the long run, it is essential in leading to the inevitable mass adoption of cryptocurrencies.

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