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Why does Bitcoin always fork (What are the coins that forked from Bitcoin)

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Why does Bitcoin always fork?Editor\’s Note: This article is from the Plain Bloc

Why does Bitcoin always fork (What are the coins that forked from Bitcoin)

Why does Bitcoin always fork?

Editor’s Note: This article is from the Plain Blockchain section (ID: hellobtc) and is written by a tree named Yang, authorized by Odaily Planet Daily.

Recently, Bitcoin has experienced a fork. The most popular topics in the crypto circle these days are Bitcoin ABC and BCHABC. The reason for this situation is that these two well-established exchanges have announced their support for Bitcoin Cash (BCH) and Litecoin (LTC). In this case, it means that everyone has turned Bitcoin into a store of value and they are no longer just focused on a single issue, but are combining this issue with other technical problems.

These so-called “hard forks” are actually a kind of mockery of new things by the crypto community. In fact, why does Bitcoin fork? In a sense, it’s because people think new things are important. For example, Ethereum, EOS, etc. There is now a saying called “code is law”, which means “we should not develop new things.” So many people may think it’s a scam.

But is it really the case? Of course not. The fact is, many project parties want to attract more people to enter the Bitcoin field and make it more mainstream. However, with the development of the market, various projects have emerged with new coins.

First of all, the development of Bitcoin ecology is fast, and many projects have even launched their own tokens. For example, Coinbase issued its first cryptocurrency, Coinbase Pro, in January 2018. However, due to the market downturn at that time, the market value of many projects fell below 10 billion US dollars; at the same time, some altcoins experienced a significant decline.

According to data from Coinmarketcap.com, by the end of September, BTC alone had risen by more than 30%, while ETH had fallen by about 20%; in addition, Ethereum Classic (ETC), Ripple (XRP), and others had also experienced growth of over 70%.

Although most projects have achieved this vision through forks, they haven’t really changed anything. “No change.” Can Bitcoin really be upgraded? If Bitcoin can really be widely applied and become an asset?

Why doesn’t Bitcoin split? It is a new platform entirely controlled by the community, and its design is to establish a new trading mechanism based on the existing system. By introducing block rewards to solve some minor problems in the network and reduce the cost of the entire system. Therefore, when the digital assets mined by miners become scarcer, new blocks or new nodes will be created.

In addition, the design concept of Bitcoin is also to meet the evolving industry needs and keep Bitcoin relatively stable. In December 2017, Satoshi Nakamoto published an article called “Bitcoin”, where he mentioned the core ideas of Bitcoin: scalability and privacy. The article pointed out that “most of the functions of the Bitcoin protocol are built on open-source code.

What are the coins that forked from Bitcoin

According to bitcoinist, what coins were forked from Bitcoin? These codes are called hard forks, which means that both the blocks mined from previous Bitcoins and a new block are packaged into a blockchain. This blockchain contains two parts: one is the block (transaction) state in the original Bitcoin code, and the other is a “new” state in the old Bitcoin code (meaning that this new block does not exist).

The “New” that was seen in the previous versions. These two digital assets were born as new encrypted assets or tokens during the bullish market in 2017, and then they were brought to new heights by Bitcoin one after another.

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