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Author Topic: Bitcoin forks  (Read 55 times)

<--Jack-->

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Bitcoin forks
« on: February 20, 2018, 06:32:40 PM »

2017 has been the year of Bitcoin forks. For clarity’s sake, here’s a quick rundown:

1.Prior to August 1, 2017, miners activated the backward-compatible SegWit soft fork. This upgrade to the Bitcoin protocol increased the transactional capacity of blocks, fixed a serious bug known as transaction malleability, and paved the way for Lightning Networks and further improvements.

2. On August 1, the backward-incompatible Bitcoin Cash hard fork occurred. Bcash split from the main Bitcoin blockchain to create an altcoin with 8-megabyte blocks and no SegWit implementation. All Bitcoin balances held at fork time were credited an equal amount of Bcash (BCH). See our Bitcoin Cash article for more details.

3. On October 24, the backward-incompatible Bitcoin Gold hard fork occurred. Bitcoin Gold hard forked away from the main Bitcoin blockchain to create an altcoin with an altered, ASIC-resistant mining algorithm known as Equihash. All Bitcoin balances held at fork time will be credited with an equal amount of Bgold (BTG) when the Bgold network launches (presumably in the near future). See our Bitcoin Gold article for more details.

4. The SegWit2x (also known as S2X/B2X) backward-incompatible hard fork is scheduled to occur around November 16. B2X will fork from the Bitcoin blockchain to produce an altcoin with 2-megabyte blocks and SegWit support. All Bitcoin balances held at fork time will be credited with an equal amount of B2X. See our article on the New York Agreement (which set the stage for SegWit2x) for more details.


 

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