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The fork of the Bitcoin: where do the forks of the main crypto currency come from and who do they need?

The first crypto currency bitcoin laid not only the beginning of cryptoeconomics, but also opened unlimited possibilities for creating new coins. These very opportunities in the form of an open source code are used by everyone who is not lazy. That is why we with enviable frequency see the production of new forks of the cue ball, each of which tries to use the popularity of the main crypto currency. What is waiting for these coins in the future and why they were born - in these issues we will try to understand further in the article.

What is a "fork"?

Satoshi Nakamoto, who created the main crypto currency of all time and people, tried to make it as transparent as possible, thanks to this, the developers had an opportunity to use the coin code to create their own crypto currency. On the one hand, this marked the beginning of the rapid development of the market of crypto-currencies, but at the same time, a large number of forks of bitcoins using his name appeared.

Fork - a branch in the chain of blocking, which serves as a start for a new crypto currency based on the already available one. In fact, you can create fork on the basis of any existing crypto currency, for this the developers do not need either the mind or the fantasy, because copying is much easier than creating one's own. And at least you can divide into forks in the crypto-currency world anything, so it was decided that the most popular crypto currency for such experiments was bitcoin.

The interest of developers who are actively copying blockade of the first crypto currency is not due to the fact that the cue ball network is the most progressive and innovative one. Here, most likely, the other factor plays a role - the coin is the most famous, the most expensive, and most importantly, it has more holders than other crypto-currencies. The meaning of the last nuance we will explain below.

The technical side of the fork

Generally speaking, the fork represents a modification of the source code of the crypto currency, regardless of whether it is simply copied or copied and somehow modified. And if you look at the root of the matter, fork is nothing more than a clone of the existing crypto currency. Yes, developers can make some changes, improve the system or change the features of production, but they do not invent anything new, and take as a basis what has long been thought up before them. This is not plagiarism in the literal sense of the word, since there is simply no such concept in the crypto-currency world, and such pranks are permissible for absolutely everyone. Even you can copy the blockade of bitcoin, come up with a name for the "new" crypto currency and make money on it.

We all know that the block system consists of blocks of information, united in a single chain. The traditional blockade of bitcoin itself does not have branches, they are formed if some of the blocks are not supported by the network, and then die off if they do not receive support from the miners. In the case of fork, such blocks receive support and a "live" branch is formed, which exists in parallel with the main one.

What are the forks of bitcoin famous for?

The popularity of the main crypto currency does not give rest absolutely to anyone, especially developers who regret that they could not come up with a cue sooner than Nakamoto did. But their fact is not very disappointing, because what you did not invent, you can successfully copy. This is what many "enthusiasts" are doing.

In the network, mass bitcoin cloning is jokingly called IFO (Initial Fork Offer), but even the skepticism of the community does not stop the initiators of such duplication. And now we are not talking about such noble forks as lightcoin, which have their own name and do not exist due to the connection with the main crypto currency. Forks that actively began to appear in 2017, and intend to continue this trend in 2018, are frank attempts by developers to make money on the famous coin.

The wave of clones of bitcoin has the following features:

  • The fork has a common history with bitcoin, as a result of which coins are distributed free of charge to all holders of military technical cooperation.
  • As a result of free distribution, coins are highly capitalized, which is essentially a dummy. In a recent blog article, we've already told you what capitalization is and how it is calculated, if you've read it, then for sure, now you understand why developers benefit from a large number of bitcoin users. Due to this, the coin appears in the TOP or very close to it, and immediately acquires an audience of users, although such a capitalization and a fake one - no one bought coins and trusted them not.
  • Clones of the latest generation use Bitcoin in its name - another bonus, which goes to the newly made coins by inheritance and plays the role of a kind of free advertising.
  • Cape forks do not offer anything revolutionary, their technical interpretations are minimized. Someone bothers to poke in the algorithm of mining, someone changes the size of blocks or the speed of transactions, but such coins from a technical point of view are of no interest.

As practice shows, the initiators of forks clothe their offspring with some kind of loud-speaking idea, in the style of "Down with the monopoly on mining!" Or something else in this spirit. In fact, these ideas are fake and behind them it is convenient to hide the desire of developers to get the most money with a minimum of effort.

Forks of the bitcoin 2017 years

2017-th was productive for new coins-forks and you can even say that the clone of the cue ball has a certain trend. And this trend has pleased many - the developers were able to earn, and users in the purse flew free coins. And even bitkoin himself is inflated from forks and beats the next course records, because before each such branch the number of those who want to sell the main crypto currency is catastrophically decreasing. And although all are satisfied with this situation, all in all, for the market, it turns out to be negative. The public is even more confident that the world of crypto currency has hypertrophied value and every day there may be various pacifiers that are supposedly the next money.

Bitcoin Cash

The coin, which laid the foundation for a new trend, positions itself as a means of payment, to which bitcoin is no longer destined. Bitcoin Cash arose 1 August 2017 year and is the most famous fork, because it arose on the wave of a major scandal. Details of this event you can find in a separate article of the blog, we recall only that the biton cache appeared as a result of disagreement between the developers of classic bitcoin and miners. The entire conflict was based on the problem of the scalability of bitcoin, and on the wave of this new coin managed to catch the HYIP.

But not only the scandalous occurrence has served to the fact that Bitcoin Cash is famous and occupies the highest ranking lines of the most valuable crypto currency. The fact is that on the side of the cache, not only large mining pools, but also bitcoin-millionaires, who are ready to actively support the coin on stock exchanges and spur on the growth of its rate. Cash infusions into the fork allowed him to reach in price over 3000$ for 1 BCC, and the coin's capitalization reaches 54$ billion

Bitcoin Gold

In late October, the public was pleased with the new fork called Bitcoin Gold. The ambitions of the young coin are no less global than those of their predecessor, but the team was somewhat disappointed. The developers did not live up to expectations and in the network the project was immediately baptized with a scam. First of all, the initiators of the fork did not please the fact that they hid the source code from everyone, for which they received accusations of its poor development. In parallel with this, developers were accused of preinishing, as a result of which a large number of coins were in their hands even before the official start of the project.

But even after the launch, various incidents began. In particular, Bitcoin Gold has repeatedly been exposed to DDoS attacks, and later it turned out that through a hole in his wallet, users lost their cue cards, lightcoins and ethers, which were successfully fired by "unknown persons".

Bitcoin Diamond

The third on the account was born a mysterious Bitcoin Diamond, the developers of which almost nothing is known (except for nicknames), as nothing is known about the source code of the coin, which we simply did not submit. Bitcoin Diamond tells about himself willingly, revealing that he has an increased block size, increased transaction speed and greater anonymity than the cue ball. Will BCD be interesting? still someone other than speculators - a big question.

When to expect a new fork bit?

To languish in anticipation of the next forks no one will have to - we are offered them very soon, and in large numbers. And if you are interested in the specific date of the fork of bitcoin, which is planned in the future, then the list presented below will help you to sort out this diversity:

  • Bitcoin Silver (25 December 2017) - information about the coin is very small, if the version that its launch is no more than another duck for inflating the bitcoin rate.
  • Bitcoin God (25 December 2017) - the coin starts without preminging, the cage block is supplemented with increased anonymity, smart contracts and an enlarged block.
  • Bitcoin Uranium (31 December 2017) - not unlike the cue ball and forks, the mining will follow the algorithm of Equihash.
  • Bitcoin Cash Plus (2 January 2018) - is going to present an improved version of the biticon cache and gold, the mining will be implemented only on video cards.

But do not rush to prepare desperately for forks and expect unreal profits from them. Not always planned projects happen to be realized, and sometimes they should be bypassed. For example, not so long ago it turned out that the next branch named Bitcoin Platinum was a real broom. The creation of his "worked" Korean schoolchild who wanted to earn on a coin 5 million in local currency. Later, he confessed to his atrocity, which further offended the forks of the cue ball, which did not shine with their reputation.

They will try to get a piece of success from the main cryptocurrency in the future, perhaps we will hear about dozens of new forks. But it should be understood that for the most part they are created as a tool for speculation and getting easy money, and their technological features are unlikely to be of interest to anyone. Therefore, it is certainly not worth considering forks as an investment. But no one forbids speculating with them - feel free to get free coins and extract profit from their sale on the exchange.