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Blockchain knowledge: bifurcated family of bitcoin

Time : 22/05/2022 Author : h0we1z Click : + -
        In August 2017, bitcoin forked for the first time, supporting developers of large blocks to expand the block to 8m, and named the forked new chain bitcoincash, referred to as BCH for short, which is called bitcash in Chinese. Compared with BTC, BCH has faster transaction speed and lower handling charges. The total amount of BCH is the same as that of BTC, and when forking, users of the original bitcoin old chain will be distributed the same amount of BCH as that of BTC on their accounts, Bitcash is a successful hard bifurcation, and its price and market value are also rising. A success will inevitably lead to a large number of imitations. The bifurcations of bitcoin have become increasingly fierce. In just a few months, there have been more than a dozen bifurcations, such as bitcoin gold, bitcoin diamond, super bitcoin, lightning bitcoin, etc., forming a bitcoin bifurcations family. Nowadays, many of these bifurcations are to make the bitcoin system more smooth and more suitable for the needs of development, but it does not rule out that there are individual bifurcations for other purposes, Not really contribute to the blockchain ecosystem.
 
        The rapid emergence of the bifurcation problem of blockchain is often caused by different opinions from the consensus of the community team. Such consensus is no longer limited to technical solutions such as block expansion and network operation. Sometimes even an unexpected event will lead to bifurcation. For example, Ethereum (ETH) will implement bifurcation due to hackers attacking Dao transactions, and the new network will remain its original name eth, The old network is called Ethernet classic (etc). With the concept of blockchain becoming more and more popular, people will fundamentally feel that the power of the community is constantly being divided and weakened, which will make other competitive chains have opportunities to take advantage of. Therefore, more and more developers are seeking to find a perfect solution to the problem and throw the bifurcation event into the long river of blockchain historical development.
 
        
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