What is a cryptocurrency Fork?

What is a fork? Cryptocurrencies like Bitcoin and Ethereum are powered by decentralized, open-source software called a blockchain. A fork happens whenever a community makes a change to the blockchain’s protocol, or basic set of rules.

What is forking in blockchain?

What is forking? Many of us are familiar with cryptos and blockchain technology, but there are many terms to explain, and one of them is forking. When we talk about forks in a blockchain network, they represent a split created by changing the code.

Can a hard fork affect a cryptocurrency?

Hard forks can have a profound impact on the cryptocurrency and not just because of the uncertainty caused. The Bitcoin Cash hard fork is a good example of a quirk that can occur. Holders of the “parent” cryptocurrency end up with an equal number of forked off coins.

Will a currency Fork help the currency?

If you believe that the fork will help the currency, one course of action would be to scoop up currency from concerned users, taking advantage of price fluctuations to increase your stake. If you believe that the fork will be bad for the currency then it might be advisable to sell before the crash.