To Fork or to NOT Fork ?

To Fork or to NOT Fork ?

By Sapi | Sapi | 4 Nov 2020


There have been particular episodes that have made the crypto fork a phenomenon jump to the headlines. I recall  the cyber attack on the Ethereum or the birth of Bitcoin Cash. Episodes in the management of which the concepts of freedom and self-determination are central thanks to the ecosystem in which they occurred.

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We all know the blockchain is a set of blocks that carry data permanently recorded on the network, connected as if they were links in a chain. It is essential to understand that it is open source software, and this means that the underlying computer codes are free and available for anyone to view, inspect and use.

In a decentralized network, network participants must agree on a common set of rules to validate transactions in order to reach a consensus. This results in a single chain of verified data that everyone agrees to be correct.

When the chain breaks in two, it means that a fork has occurred. The literal translation is precisely a bifurcation and placed in the context of the blockchain, the Fork therefore represents a conscious change in the original code of the virtual currency, which allows to arrive at the definition of a new version of the blockchain, albeit with a story shared with the previous currency.

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Why is a code changed and a Fork occurring? Essentially to allow the addition of new features to improve the network or to change a basic protocol rule (such as increasing the block size).

This is theory. My points are  always doubting around it. Again why a fork ?

The means by which to correct errors and improve?

An opportunity for traders?

An instrument of defence and control?

I don't probably know the answer or I can say  forks are all this and more.

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