What is a forked coin (will it plummet when it comes out)
What is a forked currency forked currency, also known as heterogeneous blockchain or hard forked currency The so-called ‘merge’ is an abbreviation for the integration of existing consensus mechanisms into new technological solutions for upgrading, known as’ The Merge ‘. If a blockchain project does not complete full compatibility work before the main network release (such as not considering developer issues), the code of the project will be modified. This change will make the existing chain and system unable to function properly, and may even lead to issues such as user asset loss or financial damage
So the so-called “splitting” refers to two possible situations of a Cryptocurrency or digital token: the first situation is that a new blockchain technology is generated inside the network, and then the new blockchain will match the same algorithm used in the original main network; The second scenario is the introduction of new protocol rules in the network, which make other virtual currencies such as Bitcoin easier to use. The third case is that a manufacturer of a certain block in Ethereum has created a smart contract called epoch to achieve this operation; The fourth category is that some applications on Ethereum are optimizing EVM to support its functions
According to data from DuneAnalytics, as of the press release, the balance of known ETH branch addresses had exceeded $200 million, accounting for 99.8% of the total flow, of which the number of ETHs held by Ethereum reached 107000, accounting for 83.2%. (Note: According to the statistics on May 11, nearly 20 branch chains have been launched on Ethereum, but the specific time point has not been announced.)
For the two branch coins with big differences, they are Steem (the old version) and BinanceCoin (the new version). The difference between the two is that they adopt a new approach similar to Bitcoin. However, as Bitcoin develops from an established exchange to a mainstream trading platform with competitive advantages, these two currencies will also be affected to varying degrees:
(1) due to significant price fluctuations (such as a 60% drop in Bitcoin), changes in market supply and demand, and a lack of confidence in its value among investors, differences have arisen. Since February, the price of BTC has dropped below $4000. In the middle of March, the price of Ethereum plummeted. Although the significant reason for this surge is due to the increase in DeFi popularity leading to price increases; However, because of the recent hot spot speculation and the depressed market sentiment, the price of Ethereum also soared, once hitting a record high In addition, there are some messages about sharding. For example, EOS founder BM recently stated that “sharding is an important breakthrough, and we need to further explore how to expand it to a wider range of applications.”
In addition, the EOS team has also formed some people in the community to help build a side chain that can be deployed on EOS, which can improve the speed of blockchain.
Will the forked currency plummet when it comes out
Today is June 30, 2018, which is the day before the halving.
. But will forked coins plummet? I personally don’t think it will have such a significant impact Because nothing new has been added to the block after this fork, and the height of the block has reached its peak, this issue has always existed in the coin circle. Therefore, everyone is cautious about the projects after the fork, especially those tokens that have already been launched on the exchange, which are very unstable currencies and air coins; Some projects choose to trade directly in order to encourage investors to buy high-quality assets, such as currencies such as BCH and BSV. If these currencies are to be sold or exchanged for other tokens, they will be greatly affected.
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