Why is bitcoin forking

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What is Forking in Crypto?
Since a hard fork rejects any block that still uses the old rules, a hard fork effectively creates a new network with a separate cryptocurrency. Any wallet. A fork occurs when one blockchain is divided into two blockchains. This type of split in a blockchain network happens when an update is made to the. A Bitcoin fork is a split in the Bitcoin network whereby two separate 'branches' are created, each with its own protocol.

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Buying bitcoin on binance in a restricted us state

The first Bitcoin fork occurred on August 1, , resulting in a split between Bitcoin and Bitcoin Cash. One unique feature of the Bitcoin Gold hard fork was a "post-mine," a process by which the development team mined , coins after the fork had taken place. When Bitcoin XT declined, some community members still wanted block sizes to increase. What Is a Bitcoin Fork? Please review our updated Terms of Service.