Bitcoin Forks: Power Struggles And Protocol Futures
Bitcoin forks are a pivotal part of the cryptocurrency's evolution, shaping its development and impacting the broader blockchain ecosystem. Understanding what Bitcoin forks are, how they occur, and their different types is crucial for anyone involved or interested in cryptocurrencies. This comprehensive guide will delve into the mechanics of Bitcoin forks, exploring their significance and the implications they carry for users, developers, and the future of Bitcoin.
What is a Bitcoin Fork?
Defining a Bitcoin Fork
A Bitcoin fork essentially represents a divergence in the blockchain, resulting in two versions of the same cryptocurrency. This divergence occurs when the nodes (Computers that maintain the blockchain) on the network disagree on the rules governing the blockchain. There are two pr...