Upcoming Bitcoin Forks: What To Expect And How To Prepare
Bitcoin is software. There are various parties involved in development of this software — Bitcoin miners, developers, users and platforms— that all have some authority and input as how they want Bitcoin to operate. The Bitcoin network is constantly improved through various software proposals and updates. Occasionally, however, some of these parties may disagree about the implementation or non-implementation of certain proposals. This means developers can simply fork from the current Bitcoin software branch, and bring a new version into existence, which will operate by a new set of rules. If you had one Bitcoin before the fork, you’d have one Bitcoin and one newly created coin after the fork. This is what happened with Bitcoin Cash in 2017. "In a layman's language, when two or more developers disagree with other developers on a scientific Bitcoin project, these developers may decide to go ahead with the project and thereby splitting from Bitcoin to create another crytocurrency ...