1. Aiwaka AdventuresHome
  2. Blockchain Briefs

What is Bitcoin Fork (Bitcoin Fork)

• Blockchain Briefs • 56 views

What is Bitcoin Fork, what is Bitcoin Fork? How is Bitcoin Fork created and imp

What is Bitcoin Fork (Bitcoin Fork)

What is Bitcoin Fork, what is Bitcoin Fork? How is Bitcoin Fork created and implemented? Why does Bitcoin hard fork occur? In 2017, Satoshi Nakamoto published the Bitcoin whitepaper. Although “Bitcoin Fork” was not mentioned at that time, it was considered valuable from the beginning.

In a paragraph of Satoshi Nakamoto’s “Cypherpunk” report in 2016, he said, “We can distinguish a kind of currency from other assets”. However, it also brought another new story – Bitcoin Cash (BCH). Because both cryptocurrencies are anonymously issued and controlled by the community, “BCH” has received attention and gained a lot of support. “BSV” has been questioned due to its code vulnerability. However, this statement did not change because the developers still chose not to use blockchain technology for transactions. Instead, they adopted different approaches to solve the problem, such as replacing the existing network scale with a new block size limit algorithm.”

According to Coindesk’s data, the total market value of Bitcoin was about 1 trillion dollars at the beginning of 2019. In comparison, the total market value in 2018 was only about 50 million dollars. (CoinDesk)

Bitcoin Fork

According to Coindesk’s report, the Bitcoin fork will cause some miners to shut down their equipment. This makes mining no longer one of the “easy” issues. In a recent tweet, two coins (BCH and BSV) were distributed to different developer teams and claimed to be different from the existing system. One version is called “Bitcoin Core”, while the other is called “Blockchain Coin”. They are trying to achieve decentralization by using blockchain.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/17/what-is-bitcoin-fork-bitcoin-fork/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/17/2023 19:02
Next 08/17/2023 19:25

Recommended articles