What is a fork and what kind of effects it brings to the market - I became rich using this method and now I make over $10,000 monthly.
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Scott Evans
11.12. 2017 12:05  | 

Here is some quick explanation what fork really is. Fork is a change in the cryptocurrency software that leads to the creation of two separate different versions of the blockchain with a shared history. There are two kinds of forks, the hard fork and soft fork. The division can last a few minutes or they can be permanent which means creating second digital currencies different from the first one.

One of the most popular hard fork of the Bitcoin was creating Bitcoin Cash (BCH). Before the fork happen everyone who owned Bitcoin, have the same amount of the BItcoin Cash immediately after the fork. Forks could be pretty tough for the people that have lack of technologically knowledge about it. Anyway, forks can make some division in the cryptocurrency community. Therefore, after the fork of the Bitcoin we have supporters of the Bitcoin, originally Bitcoin before the fork, and we have on the other side advocates of the Bitcoin Cash, they are claiming that fork was necessary, because the huge amount of transactions on Bitcoin increased waiting times for the transactions and the relative fees.

In this case, we can have a scenario where Bitcoin or Bitcoin Cash win, or we could consider the situation of creating different digital currencies like Bitcoin Cash with some different purposes.

Bitcoin Cash is not the first Bitcoin\'s hard fork ever, there are several versions of Bitcoin like Bitcoin Gold, Bitcoin Platinum, etc. Bitcoin Cash was developed to solve the problem of high fees and long time for transaction, so it has some value, but there are forks that are just trying to steal Bitcoin name since everyone could create a new version of Bitcoin thanks to open source system.

Ethereum also have some forks, and the famous one is leading us to creation of Ethereum Classic following a hack against DAO, organization created on the basis of Ethereum smart contract. This hack wasn\'t very pleasant and it creates many splits within the network.

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