the fork is a technical event that occurs because diverse participants need to agree with common rules, there are two types fork the first is the hard fork and the second soft fork. a soft fork means by contrast, is any change that's backward compatible and the hard fork means Nodes that continue running the old version of the software will see the new transactions as invalid.
Topic: what is fork? (Read 587 times)
BCC header validation rules are less secure
Compared to Bitcoin. Therefore, it is impossible to use
The same rule for both chains in Electrum, without decreasing significantly
Security of Bitcoin transaction legit authorization.
So, to support Bitcoin and BCC safely the same
Electrum Client, one needs to implement two separate devices
The header validation rule This is clearly outside the multiple scopes
Chain validation Once again, the purpose of MCV is to protect users from
Blockchain forks that are not detected by the classic SPV model,
As block size increases.
Compared to Bitcoin. Therefore, it is impossible to use
The same rule for both chains in Electrum, without decreasing significantly
Security of Bitcoin transaction legit authorization.
So, to support Bitcoin and BCC safely the same
Electrum Client, one needs to implement two separate devices
The header validation rule This is clearly outside the multiple scopes
Chain validation Once again, the purpose of MCV is to protect users from
Blockchain forks that are not detected by the classic SPV model,
As block size increases.
Similarly, updating a cryptocurrency protocol or code is referred to as 'Fork'. Forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network, depending on which type of fork is happening.
In the realm of cryptocurrencies or blockchains, these forks are majorly of two types:
In the realm of cryptocurrencies or blockchains, these forks are majorly of two types:
Occasionally, users of cryptocurrency will see wild price fluctuations related a phenomena called a fork. Let us explore what causes a fork and the potential ramifications of this event.
Hello guys.
I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
What is a fork? A fork is a Branch in a blocking chain, which serves as the beginning for a new crypto currency based on what is already available. actually, you can create a fork based on the existing crypto currency, because the developer does not need any thoughts or fantasies, because copying is much easier than creating it yourself. and at least you can split a fork in the crypto world-any currency, so it was decided that the most popular crypto currency for such an experiment is bitcoin . I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
Hello guys.
I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
Fork is kind of a split of the coin.I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
Some people take the coin and make another coin like Bitcoin and Bitcoin cash.
Except IGNIS I am disappointed with this coin because it is too slow to move.
I'm sure I'm not alone there are many traders who are trapped.
Hello guys.
I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
Fork is kind of a split of the coin.I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
Some people take the coin and make another coin like Bitcoin and Bitcoin cash.
Fork is a patches or modification made in the codes of cryptocurrency; intended to further improve, fix glitches and bugs and to flourish the existing programking code of bitcoin. The fork made have to be compatible with the ilder version as to make transaction go thru. However thru the course of patching some modification are made and not fully compatible with the older version (btc) and believed to be a better one compared to it. Thus introducing to cryptomarket the bitcoin cash and bitcoin gold that some called the "accidental forks".
In the case of bitcoin, a hard fork happened when 2 groups did not agree over the technological advancement of bitcoin. So the other group copied the bitcoin ledger/blockchain and founded their own version of BTC. This happened twice last year hence the BCH and BTG.
fork is what people particularly those other businessmen doing on bitcoin. They are halving the bitcoin in two, or just cut it in half. But still bitcoin is the king and the forked bitcoin is just an ordinary alternative coin.
All transactions are stored in a database called a "block chain". Transactions are grouped into "blocks" and the blocks are linked together in a sequence (the "chain"). In order for a miner to add another block of transactions to the chain, all miners must agree that the block and the transactions it contains are valid.
If miners disagree on the validity of a block then there will be a "fork" where one group of miners adds the block to the block chain and the others do not. The result is that the chain diverges as the two groups of miners continue adding blocks to the chain that they think is valid. Since they cannot agree on that one block, there will always be two chains.
Bitcoin Gold and Bitcoin Cash (and Segwit2x) are intentional forks. In an intentional fork, a group believes they can improve Bitcoin by making a change, but the change is not compatible with the previous rules.
Thank you so much for this information. If miners disagree on the validity of a block then there will be a "fork" where one group of miners adds the block to the block chain and the others do not. The result is that the chain diverges as the two groups of miners continue adding blocks to the chain that they think is valid. Since they cannot agree on that one block, there will always be two chains.
Bitcoin Gold and Bitcoin Cash (and Segwit2x) are intentional forks. In an intentional fork, a group believes they can improve Bitcoin by making a change, but the change is not compatible with the previous rules.
Hello guys.
I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
I am newbie here and I want to know that what is fork?and what is Bitcoin gold and Bitcoin cash?
And BCG and BCC have any connection with fork?
A hardfork in the context of Bitcoin Gold, Cash and the upcoming SegWit2x fork, is a divergence from the current protocol rules between different nodes leading to a network split. Each part of the network shares their transaction history up until the time of the split and goes their own ways after that. Meaning coins on both sides of the fork share a history until the point in time where the fork occurs, but after the fork each coin can be used separately on their own respective network. In practice this means that for each coin you hold on one side of the hardfork before it occurs, you then own a coin on each respective side of the fork.
Be aware that Bitcoin Cash's most used ticker symbol is BCH, not BCC. BCC originally belongs to another alt called BitConnect, which is unrelated to Bitcoin. Bitcoin Gold is most commonly referred to as BTG.
Simplest meaning of a fork is to have the code developed further for improvements or fixing glitches. The devs change the codes a bit.
Technically correct, but Bitcoin Gold and Bitcoin Cash are more than just code forks.
I have read many thread asking about this. Everytime i read the meaning of fork, i always dont really understand.
Simply in my mind, fork is just fixing the blockchain and make everything going faster specially for transaction and reduce the fee.
Simply in my mind, fork is just fixing the blockchain and make everything going faster specially for transaction and reduce the fee.
In the context of bitcoin and cryptocurrency.
Fork has 2 main meanings.
First meaning is relating to code development and is shared with all software projects.
The code base of bitcoin can be forked to form the basis for the development of a new project. This has happened many times.
Second meaning specifically concerns blockchain based cryptocurrencies.
The blockchain is a data structure where each block is linked together with a cryptographic hashing function that allows the younger block to inherit a digital fingerprint of the data in its parent block.
The fork occurs at the tip of the blockchain where there are 2 child blocks that are created simultaneously, subsequently propagated throughout the network, creating a conflict of consensus.
Part of the network will then have a different copy of the blockchain than the other, and the network will continue creating new blocks until the chain with the most blocks is finally accepted by the entire network.
Such is the case with any fork that occurs where there isnt an intent to change the underlying policy of the network.
The other type of blockchain fork is the policy changin type of fork.
In a soft fork like segwit bip141 there is a policy change but the forked blockchain continues to run in parallel because it is backwards compatible. participants are free to move their bitcoins back and forth between segwit enabled and legacy addresses.
In the hard fork as with bitcoincash, There is a policy change that does not permit backwards compatibility. The tail of the blockchain is cloned so that participants of the original network will have an equivalent balance on the cloned chain. each version of the blockchain then eliminates their respective policy violating fork and continues to build itself as 2 separate blockchains.
Thank you so much Fork has 2 main meanings.
First meaning is relating to code development and is shared with all software projects.
The code base of bitcoin can be forked to form the basis for the development of a new project. This has happened many times.
Second meaning specifically concerns blockchain based cryptocurrencies.
The blockchain is a data structure where each block is linked together with a cryptographic hashing function that allows the younger block to inherit a digital fingerprint of the data in its parent block.
The fork occurs at the tip of the blockchain where there are 2 child blocks that are created simultaneously, subsequently propagated throughout the network, creating a conflict of consensus.
Part of the network will then have a different copy of the blockchain than the other, and the network will continue creating new blocks until the chain with the most blocks is finally accepted by the entire network.
Such is the case with any fork that occurs where there isnt an intent to change the underlying policy of the network.
The other type of blockchain fork is the policy changin type of fork.
In a soft fork like segwit bip141 there is a policy change but the forked blockchain continues to run in parallel because it is backwards compatible. participants are free to move their bitcoins back and forth between segwit enabled and legacy addresses.
In the hard fork as with bitcoincash, There is a policy change that does not permit backwards compatibility. The tail of the blockchain is cloned so that participants of the original network will have an equivalent balance on the cloned chain. each version of the blockchain then eliminates their respective policy violating fork and continues to build itself as 2 separate blockchains.
All transactions are stored in a database called a "block chain". Transactions are grouped into "blocks" and the blocks are linked together in a sequence (the "chain"). In order for a miner to add another block of transactions to the chain, all miners must agree that the block and the transactions it contains are valid.
If miners disagree on the validity of a block then there will be a "fork" where one group of miners adds the block to the block chain and the others do not. The result is that the chain diverges as the two groups of miners continue adding blocks to the chain that they think is valid. Since they cannot agree on that one block, there will always be two chains.
Bitcoin Gold and Bitcoin Cash (and Segwit2x) are intentional forks. In an intentional fork, a group believes they can improve Bitcoin by making a change, but the change is not compatible with the previous rules.
If miners disagree on the validity of a block then there will be a "fork" where one group of miners adds the block to the block chain and the others do not. The result is that the chain diverges as the two groups of miners continue adding blocks to the chain that they think is valid. Since they cannot agree on that one block, there will always be two chains.
Bitcoin Gold and Bitcoin Cash (and Segwit2x) are intentional forks. In an intentional fork, a group believes they can improve Bitcoin by making a change, but the change is not compatible with the previous rules.
I understood very well.thank you so much sir
Fork is like updating the whole bitcoin changing some protocol or the algorithm and fixing some bugs and errors in the software there are types of fork the hard fork this fork has a big changes in blocks of bitcoin and the soft fork this may change the size of blocks lower than the hard fork. for further info about fork there are lots of topics here you may go help your self and back read.
Simplest meaning of a fork is to have the code developed further for improvements or fixing glitches. The devs change the codes a bit.
Forking leads to the development of different version of a program. The project is forked so that the code can be developed independently in different ways with different result. Bitcoin fork is a change to the software of the digital currency that creates two separate versions of the blockchain with a shared history. It has two type the hard fork and the soft fork.
If you pay more attention to bitcoins.You will heard many people are talking about the 'fork'.But what does it mean by 'fork'.On a blockchains,a fork is technical event that participant need to agree on common rules.There are two type of fork.That is 'Hard fork' and 'Soft fork'.At most basic,a fork is what happen when a blockchain diverges into two potential path forward.
The fork is what people particularly those other businessmen doing on bitcoin. They are halving the bitcoin in two, or just cut it in half. But still bitcoin is the king and the forked bitcoin is just an ordinary alternative coin.
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