What the heck is a cryptocurrency coin fork?

See the source image

What the FORK!?!?

Forking is when the basic protocol of bitcoin has been changed and suddenly the blockchain splits. There is a fork in the road.

One of the limitations of bitcoin that seems to plague many users is the size cap on the block. One megabyte seems to be too small to make sense. In 2010, it might have been okay but in the streaming world of today, it seems to be prohibitive. Developers tried to find ways to improve bitcoin, at least to their way of thinking, their changes would be improvements.

The issue is that the changes had to appeal to enough people in the crypto currency community so that the new cryptocurrency would be accepted. A shot at changing this protocol was Bitcoin XT. This forked bitcoin core which is the basis of the bitcoin network. In 2015, the plan was to allow the block to have a cap of 8 megabytes. It would increase the number of transactions that could be contained in each block.

It was not a popular idea and it quickly faded and within a year, it was relegated to history. Then came the Bitcoin Classic software change that would see the block size changed to 2 megabytes. This fork did not gain enough support to survive either. It was just a variation on the XT plan.

Bitcoin Unlimited allows miners to be more flexible in choosing the block size they preferred. Some still use this implementation of bitcoin.

In August 2017, Bitcoin Cash was a bitcoin hard fork following a change in the protocol. Its block size cap was set at 8 megabytes. Bitcoin and bitcoin cash went their separate ways on August 1, 2017. Bitcoin cash seems to be doing well, valued at $1,174 three months after the fork. The bitcoin price continued to rise after the split.

On October 23, 2017, there was another hard fork with Bitcoin Gold emerging. The change in the protocol this time was related to the hashing algorithm. Because of the difficulty of mining bitcoin and the requirement for ASIC hardware, bitcoin gold is designed to be mined with GPUs. Its hash is called equihash. It cannot be sped up with special equipment, which ASIC is. This means that it is more equitable for the regular user who can mine for bitcoin gold with a gaming computer.

When a cryptocurrency forks, the new currency begins with a genesis block. This is just fancy terminology for the first block in the new currency. The genesis block in bitcoin was the first of such a block. The clever Satoshi Nakamoto buried a message in the bitcoin genesis block. This was the message, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” It was also hard-coded to be non-spendable.



If you would like a step by step guide of how to create a Plug-N-Play Cryptocurrency portfolio built from Bitcoin, Ethereum, Litecoin and many other quality coins (some of which that pay you just to own them!), click the banner below:




Dan Watson and Arkham Industries provide an informational service only and are not responsible for any investments made applying this information. The results described are not typical and are not guarantees of future income. Any investment contains risk and is 100% the responsibility of the investor to assess the risks/rewards involved. It is possible to lose some or all of your investment. We assume no liability assumed or implied for your application of the information shared from the training programs.

I am not a financial adviser and for that reason, nothing I say or write should be taken as financial advice. This information is for informational and entertainment purposes only. I am not the owner of any of the programs mentioned on this website. I am also not connected to the presented websites in any way, shape or form. There is risk involved in trading, mining, lending, staking and investing in cryptocurrency. So any previous payments made by any website or an investment fund do not guarantee that payments will be steady and regular in the future. I am not responsible if a website does not pay out or shut down at anytime. So Join at your own risk. This information is created as per my personal experience. I do not take any responsibility for any losses that may occur. I do not give any financial advise.

Earnings and Income Disclaimer. We make every effort to ensure that we accurately represent these products and services and their potential for income. Earning and Income statements made by its’ customers and/or I are only estimates of what we think you can possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that the earnings and income statements differ by individual. As with any business, your results may vary, and will be based on your individual capacity, business experience, expertise, and level of desire.

6 thoughts on “What the heck is a cryptocurrency coin fork?

  1. Hey Dan. all this gives me a headache (figuratively). I am happy to have learned what you thought and showed us, but… what do regular people do? Its all so far removed of what we know and are used to, how can this ever be adapted ?

    1. Hi Catherine

      A lot of the info that I share like the coin forking is purely for educational and entertainment purposes only.
      I try to put out content that answers questions that I had when I first got started
      Anytime I find an answer to a question I had to this day, I will try to make content about it because
      I know that if I was wondering about it, chances are somebody else was as well.
      As far as what to do with this knowledge, I suggest you take a look at a video I did recently about
      the daily actions I take in order to make profit everyday in this cryptocurrency niche.
      You can find the video by simply clicking the link below. Hope you enjooy it!

  2. I’m really enjoying the design and layout of your
    site. It’s a very easy on the eyes which makes it much more enjoyable for
    me to come here and visit more often. Did you hire out a designer to create
    your theme? Fantastic work!

  3. you are really a just right webmaster. The website loading speed is incredible.
    It sort of feels that you are doing any distinctive trick.
    In addition, The contents are masterwork. you have done a magnificent activity in this topic!

Leave a Reply

Your email address will not be published.