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Author: Admin | 2025-04-27
Able to interact with users who upgraded to the newer software, and vice versa. This is basically creating two types of currency, but in this case, the currency is not interchangeable. You can think of forks like organizational splits, with one part of a company moving in one direction, and another part of the company moving in another direction. That’s exactly what happened with Bitcoin, Bitcoin Cash, and Bitcoin Gold. These are all separate cryptocurrencies within the Bitcoin family, and all operate independently with different rules. They are all still cryptocurrencies but not the same as the original Bitcoin. Types of Major Bitcoin Hard Forks The two biggest Bitcoin hard forks are Bitcoin Cash and Bitcoin Gold, although there are others as well. The Bitcoin Cash Hard Fork Bitcoin Cash is a hard fork of Bitcoin that occurred on August 1, 2017. It was designed to overcome the problems that Bitcoin was experiencing with delayed transactions and lag. To do that, it uses 8-megabyte blocks instead of the 1-megabyte blocks used by the original Bitcoin, making it easier to scale as more people interact with the service. NoteThe larger blocks can hold more data and speed up the process of buying and selling as more people come onto the system. The Bitcoin Gold Hard Fork Bitcoin Gold is a different hard fork that occurred in October 2017 with the goal of making Bitcoin mining a more equal process that requires only basic equipment. It’s mined on standard graphics processing units instead of specific hardware developed exclusively for the mining of Bitcoin (referred to as "ASICs"—application-specific integrated circuits), which is more expensive and limited to a few big players. The idea here was to increase the independence and decentralization inherent to the original Bitcoin concept. Other Bitcoin Hard Forks In addition to these two main hard forks, there has been a flurry of other hard forks and experimentation within the Bitcoin system. Here are a few of the other hard forks and when they started. Bitcoin Diamond: November 2017Super Bitcoin: December 2017Bitcoin Atom: January 2018Bitcore: November 2017Bitcoin God: December 2017Bitcoin Private: January 2018Bitcoin Zeo: September 2018Bitcoin Post-Quantum: December 2018
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