We have 3 types of Bitcoin, which are separated from a single bitcoin and initially
Through the hardcover we have added BitCoinCore (BCC) on 1/8/2017
And BitcioinGold (BCG)
Topic: what is fork? - page 2. (Read 587 times)
Hi, I want to tell you what I know, this may be wrong.
In my opinion, bitcoin is a codec that offers outstanding features
BCG and BCC are twin brothers of BTC
BCG is BitCoin Gold
BCC is BitCoin Cash
In my opinion, bitcoin is a codec that offers outstanding features
BCG and BCC are twin brothers of BTC
BCG is BitCoin Gold
BCC is BitCoin Cash
Occasionally, users of cryptocurrency will see wild price fluctuations related a phenomena called a fork.
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.
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.
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?
First you are a newbie and completely know about the cryptocurrency. Many time this questions was raise in the Bitcoin forum. simply you are not spend any time about Bitcoin. Beginning session is completely explain about bitcoin. This may help to understand the basic knowledge of Bitcoin, Bitcoin gold and Bitcoin cash. latest news also published in many online sites 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?
BitcoinGold and BitcoinCash are both hard forks of bitcoin. We have two types of fork, a soft fork and hard one.
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?
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