{"id":905,"date":"2023-07-10T13:00:48","date_gmt":"2023-07-10T13:00:48","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=905"},"modified":"2023-07-10T09:39:17","modified_gmt":"2023-07-10T09:39:17","slug":"what-is-bitcoin-fork","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-bitcoin-fork\/","title":{"rendered":"What is Bitcoin Fork?"},"content":{"rendered":"<p>Bitcoin fork is the type of event that realizing on the blockchain networks. We can think of it like a branch growing from a crypto tree. A fork happens when people using a particular cryptocurrency can&#8217;t agree on how to make it better. Instead of arguing, they <strong>split into different paths<\/strong> and <strong>create new versions<\/strong> of the cryptocurrency.<\/p>\n<p>There are different types of forks. A <strong>hard\u00a0fork<\/strong> is a complete split, creating a new platform with its own cryptocurrency. A soft<strong>\u00a0fork<\/strong> is more like a modification of the existing cryptocurrency. It&#8217;s like adding some new leaves to the tree without creating a whole new branch.<\/p>\n<blockquote><p>You might like it:\u00a0<a href=\"https:\/\/coinengineer.net\/blog\/what-are-brc-20-tokens\/\" target=\"_blank\" rel=\"noopener\">What are BRC-20 Tokens?<\/a><\/p><\/blockquote>\n<p>When hard fork happens, prices often go up because people are excited about the new cryptocurrency. However, prices can decline afterward as the market settles and people decide which version they prefer.<\/p>\n<p>An example of the BTC hard fork in August 2017. Before the fork, there were different ideas:<\/p>\n<ul>\n<li>Some believed the new coin,<strong> Bitcoin Cash<\/strong>, would become more popular than the original<strong> Bitcoin.<\/strong><\/li>\n<li>Others thought the original Bitcoin would remain on top and Bitcoin Cash would disappear.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-993 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/06\/Forks-of-Bitcoin-Schematic-representation-of-Bitcoin-forking-tree-Each-time-a-new-300x143.png\" alt=\"\" width=\"686\" height=\"327\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/06\/Forks-of-Bitcoin-Schematic-representation-of-Bitcoin-forking-tree-Each-time-a-new-300x143.png 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/06\/Forks-of-Bitcoin-Schematic-representation-of-Bitcoin-forking-tree-Each-time-a-new-768x365.png 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/06\/Forks-of-Bitcoin-Schematic-representation-of-Bitcoin-forking-tree-Each-time-a-new.png 850w\" sizes=\"auto, (max-width: 686px) 100vw, 686px\" \/><\/p>\n<p>Second idea was closer to being right. Bitcoin is still highly valuable, while Bitcoin Cash is worth much less. However no one knew for sure what would happen. Both Bitcoin and Bitcoin Cash saw a surge in prices after the fork.<\/p>\n<p><strong>Famous Bitcoin Forks:<\/strong><\/p>\n<ul>\n<li>Litecoin<\/li>\n<li>Bitcoin XT<\/li>\n<li>Bitcoin Classic<\/li>\n<li>Segregated Witness<\/li>\n<li>Bitcoin Cash (BCH)<\/li>\n<li>SegWit2x<\/li>\n<li>Bitcoin Gold<\/li>\n<li>Bitcoin Diamond (BCD)<\/li>\n<li>Bitcoin Private<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><em>You can present own thoughts as comment about the topic. Moreover, you can follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>\u00a0and\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0channels for the kind of the news.<\/em><\/p>\n<div class=\"blog-share text-center\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin fork is the type of event that realizing on the blockchain networks. We can think of it like a branch growing from a crypto tree. A fork happens when people using a particular cryptocurrency can&#8217;t agree on how to make it better. Instead of arguing, they split into different paths and create new versions<\/p>\n","protected":false},"author":1,"featured_media":996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[448],"tags":[61,330,329,328,331,332,60,334,167,333],"class_list":["post-905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-tutorial","tag-bitcoin","tag-bitcoin-cash","tag-bitcoin-classic","tag-bitcoin-fork","tag-bitcoin-gold","tag-bitcoin-private","tag-btc","tag-hard-fork","tag-litecoin","tag-soft-fork"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Bitcoin Fork? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin fork is the name of a new chain that was derived from the network. 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