Bitcoin Forks Explained, Which Ones Are Worth Claiming?

Key Takeaways

  • Bitcoin has been forked many times.
  • Bitcoin Cash is the highest-profile and most contentious hard fork.
  • Bitcoin (BTC) remains by far the most dominant chain.

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There have been a numeral of Bitcoin forks over the years. But how many ? The entire is staggering, with over 50 forks on record .

What Is a Bitcoin Fork?

A Bitcoin fork is a cryptocurrency that split aside from Bitcoin at a certain obstruct height. transaction histories are shared up until the clock time of the fork, with the new mint then splitting off onto its own blockchain.

There are two kinds of forks : soft forks and hard forks. A voiced fork is backwards compatible, meaning it is a software update that is compatible with earlier versions of the blockchain. A unvoiced fork is not back compatible. Any blocks following a difficult branching want to follow the fresh rules to be considered valid. The Bitcoin network itself has undergo a total of gentle forks, with software updates including preventing duplicate identification hashes and introducing lock times for individual transaction outputs. Namecoin, created in 2011, was the foremost fork of the Bitcoin software. Bitcoin XT and Bitcoin Classic ( BXC ) were earlier forks of the Bitcoin network reference customer, released in 2015 and 2016, respectively. Most cryptocurrency projects that are long-familiar off-shoots of Bitcoin much followed contentious debates around the guidance of the code. Bitcoin Cash was the beginning high-profile hard fork of Bitcoin and was created in mid-2017. It is regarded as a contentious fork, meaning it occurred because there were competing visions about the future development of the net .

A List of Bitcoin Forks

Most heavily forks of Bitcoin occurred between late 2017 and early 2018. The time period was remarkable because it coincided with the ICO craze. The rate at which newly tokens were created made it unmanageable to keep up with the changes .
Bitcoin saw its first four intemperate forks on the same day of Aug. 1, 2017 .

The Bitcoin Cash Fork

Bitcoin Cash ( BCH ) came into being at forget height 478,559. It was a dissentious and contentious rent, led by those who believed in increase parry sizes. The modern protocol increased forget sizes to 8MB. technically, Bitcoin Clashic and Bytether were created a jam before it. Following at obstruct height 498,888 on the same day, Oil BTC was created .

The Bitcoin Gold Fork

Bitcoin Gold ( BTG ) was the next high-profile project to fork from Bitcoin. The coin split away at block height 491,407 on Oct. 10, 2017. The calculate of Bitcoin Gold was to create a new version of Bitcoin that would “ democratize ” mine by changing Bitcoin ’ s proof-of-work algorithm. The future calendar month, Bitcore ( BTX ) and Bitcoin Diamond ( BCD ) were created. Bitcoin Diamond was designed to build a network more repellent to attacks and to enhance net capacity.

December 2017 Bitcoin Hard Forks

In the month of December of 2017, about 20 new coins were created through hard forks from Bitcoin :

  • Bitcoin Silver (BTSI)
  • Bitcoin Nano (BTN)
  • BitcoinX (BCX)
  • Super Bitcoin (SBTC)
  • Bitcoin Hot (BTH)
  • UnitedBitcoin (UB)
  • Bitcoin World (BTW)
  • Bitcoin Stake (BTCS)
  • Lightning Bitcoin (LBTC)
  • Bitcoin Faith (BTF)
  • Bitcoin New (BTN)
  • Bitcoin Top (BTT)
  • Bitcoin File (BIFI)
  • Bitcoin God (GOD)
  • Quantum Bitcoin (QBTC)
  • Bitcoin SegWit2X x11 (B2X)
  • Bitcoin Uranium (BUM)
  • BitcoinBoy (BCB)
  • Bitcoin Ore (BCO)

many of these late 2017 coins are no longer in circulation and some were considered a victimize at the clock of their creation. however, projects like Super Bitcoin remain trading on 12 active markets .

Bitcoin Forks of Early 2018

As the heating system cooled on crypto markets in the beginning of 2018, forks continued. In the first few months of the 2018 have a bun in the oven market :

  • Bitcoin All (BTA)
  • Bitcoin Private (BTCP)
  • Bitcoin Pizza (BPA)
  • Bitcoin Rhodium (BTR)
  • Bitcoin Smart (BCS)
  • BitVote (BTV)
  • Bitcoin Interest (BCI)
  • Bitcoin Atom (BCA)
  • Bitcoin Lite (BTCL) were created.

Bitcoin Private was forked from ZClassic and Bitcoin. It supports zk-SNARKs, masking the details of the sender and recipient of a transaction. This tilt is not exhaustive. As Bitcoin is open source code, any developer can fork it and create a modern cryptocurrency. According to inquiry from BitMEX, there were a sum of 44 forks in the mid-2017 to early-2018 period. lone Bitcoin Cash, Bitcoin Diamond, Bitcoin Gold, and Bitcoin Private saw meaning trade volume .

Forks of Forks

A count of Bitcoin forks have undergone another subsequent fork. The highest profile of these was Bitcoin SV ( Satoshi ’ s Vision ). BSV forked from BCH at the end of 2018, creating listings of BCHABC and BCHSV, Both sides battled in the hashish wars to determine which mint would dominate. The Bitcoin Cash cleave was besides over the issue of block size, with the SV team favoring flush larger blocks. Bitcoin SV claims to be the closest Bitcoin-named blockchain to Satoshi ’ s “ original vision ” of peer-to-peer electronic cash, or so its creators claim. Bitcoin has forked a act of times. Sometimes it has arisen from genuine ideological or technical differences. other times, it has been rather uncontentious, with a group of developers seeking the marketing power of the Bitcoin name .

Which Forks are Worth Claiming?

All told, there have probable been over 50 Bitcoin forks. More could hush be created over time. today, there is a total of nine Bitcoin forks that see any trade volume at all. The forks worth claiming, at stream prices :

  • Bitcoin Cash (BCH): $219
  • Bitcoin SV (BSV): $166
  • Bitcoin Gold (BTG): $7.2
  • Bitcoin HD (BHD): $5.1
  • Bitcoin Rhodium (XRC): $4.1

Of those, only Bitcoin Cash, Bitcoin SV, Bitcoin Gold, and Bitcoin Diamond see significant trading volume .

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