Firat of all, I really want to admit that I really don't understand what Bitcoin Fork is, Or how does it goes. And now, I really want to share to you its definitions so that you can understand it easily. But its just based on Research, because Im still in the process of Learning this thing. If youre Interested in Cryptocurrency such as Bitcoin Fork, Come with me and Lets define what this thing is.. Lets get started,
So What is Bitcoin Fork?
Based on my research, Bitcoin Fork is the change to the Softwar of Digital Currency that creates two separate versions of the blockchain with a shared history. It is also defined variantly as changes in the protocol of the bitcoin network or as the situations that occur "when two or more blocks have the same block height". Ain't confuse right? So I think all of you might know and understand what Bitcoin is, for you to understand easily, so lets define what Fork is.
So what is Fork?
I think What you think the most is that, Fork is what we use when we Eat ! Haha. When we based Fork in Bitcoin Fork, Actually Forks are typically conducted in order to add new features to a blockchain, to reverse the effects of hacking or catastrophic bugs. Based on what I shared on my Articles about Cryptocurrency trading terms, Fork is when the existing Blockchain splits into two different Blockchain. We used Fork for fixing Bitcoin hacks and Bugs. Thats why Mike Hearn initiated Fork. It is made for securing New and Old Data of a Blockchain so that it cannot give some errors or bugs.
In the other Hand, Bitcoin Fork was made to split the Blockchain transaction with thesame Block height, so that it can't be easily Hack or Inject with bugs or some errors. Or should I say, its a Software for better Security and System for Bitcoin Network. For separating New and Old Block's data and etc. Thats how Bitcoin Fork defined.
This what I learned from my Research, I hope you Understand the topic, and please bare in mind that Most ths ideas was base to what I learned, and I cannot assure you that.
For more explanation, please do make a Research about Bitcoin Fork and how it works. For better and Clear explanation.. its better that It comes from the Experts.
Yahooo. I LEARNED SOMETHING NEW!🎉🎉
Good article,,,,