Bitcoin hard fork in 2021

Many of these cryptocurrencies make use of aspects that were already inherent in Satoshi's initial program and concept. Others take the bitcoin model and adapt or attempt to improve upon it. In some cases, bitcoin has spawned variations that are based on the same underlying concept and program but that are distinct from the original. In these situations, the bitcoin blockchain has undergone a process known as forking , through which the blockchain itself is divided into two distinct entities.

It is through this forking process that various digital currencies with names similar to bitcoin have come to be: bitcoin cash , bitcoin gold, and others.

A List of Upcoming Bitcoin Forks and Past Forks

For the casual cryptocurrency investor, it can be difficult to tell the difference between these cryptocurrencies and to map the various forks onto a timeline. Below, we'll walk through many of the most important forks to the bitcoin blockchain over the past several years. In , shortly after releasing bitcoin, Satoshi mined the first block on the bitcoin blockchain. This has come to be referred to as the Genesis Block , as it represented the founding of the cryptocurrency as we know it.

Satoshi was able to make numerous changes to the bitcoin network early on in this process; this has become increasingly difficult and bitcoin's user base has grown by a tremendous margin. The fact that no one person or group can determine when and how bitcoin should be upgraded has similarly made the process of updating the system more complex.

In the years following the Genesis Block, there have been several hard forks. During a hard fork, software implementing bitcoin and its mining procedures is upgraded; once a user upgrades their software, that version rejects all transactions from older software, effectively creating a new branch of the blockchain.

However, those users who retain the old software continue to process transactions, meaning that there is a parallel set of transactions taking place across two different chains. Bitcoin XT was one of the first notable hard forks of bitcoin. The software was launched by Mike Hearn in late in order to include several new features he had proposed.

While the previous version of bitcoin allowed up to seven transactions per second, Bitcoin XT aimed for 24 transactions per second.

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In order to accomplish this, it proposed increasing the block size from 1 megabyte to 8 megabytes. Bitcoin XT initially saw success, with more than 1, nodes running its software in the late summer of However, by just a few months later, the project lost user interest and was essentially left for dead.

Bitcoin XT is technically still available, but it is generally seen to have fallen out of favor. When Bitcoin XT declined, some community members still wanted block sizes to increase. In response, a group of developers launched Bitcoin Classic in early Unlike XT, which proposed increasing the block size to 8 megabytes, Classic intended to increase it to only 2 megabytes.

Like Bitcoin XT, Bitcoin Classic saw initial interest, with about 2, nodes for several months during The project also still exists today, with some developers strongly supporting Bitcoin Classic.

Bitcoin Forks April » List of upcoming BTC hard fork dates

Nonetheless, the larger cryptocurrency community seems to have generally moved on to other options. Bitcoin Unlimited remains something of an enigma since its release in early The project's developers released code but did not specify which type of fork it would require.

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Bitcoin Unlimited set itself apart by allowing miners to decide on the size of their blocks, with nodes and miners limiting the size of blocks they accept, up to 16 megabytes. Despite some lingering interest, Bitcoin Unlimited has largely failed to gain acceptance. Put simply, SegWit aims to reduce the size of each bitcoin transaction, thereby allowing more transactions to take place at once. SegWit was technically a soft fork. However, it may have helped to prompt hard forks after it was originally proposed. In response to SegWit, some bitcoin developers and users decided to initiate a hard fork in order to avoid the protocol updates it brought about.

What is a Hard Fork?

Bitcoin cash was the result of this hard fork. You can also use an exchange like Binance with a good record of supporting forks. Binance has supported Bitcoin Cash, Gold, Segwit2x, Diamond, and Super Bitcoin and has offered futures on or around the snapshot date for each as far as I recall; meanwhile, as a user pointed out, hitbtc has been good about supporting forks. Super Bitcoin futures were tradable on hitbtc immediately after the fork for example.

A History of Bitcoin Hard Forks

Otherwise, you need to be in control of your private keys when the forks occur for example in a wallet like Bitcoin Core. In general, being in control of your private keys is the recommended method. To claim your fork coins you will need to then follow the directions of a third party wallet or platform if you used of those. TIP : It is good practice to wait until someone else braves the process of claiming a forked coin.

Checking Medium. Putting private keys associated with balances of Bitcoin into a malicious or poorly implemented wallet could result in you losing your original coins if something goes wrong. Following those forks, many more forks were announced such as Bitcoin Interest and Bitcoin Ore. First a few more notes: Any given Bitcoin fork could end up being real or not. So far many forks have turned out to be legitimate, while a few are suspected to be fake.

See notes below for specifics on each fork. From late to as many as 20 Bitcoin forks occurred, the amount of Bitcoin forks has only grown since then. Anyone holding Bitcoin in a wallet where they are in control of their private keys, or anyone holding Bitcoin on a platform the supports a given fork, will be privy to a given fork. How you claim your forked coins depends on where you hold your coins.

It is rare for exchanges to support forks, so if you do want to claim forks, make sure to use a wallet where you control your private keys. That said, if you are going to claim forks, please read the advice below on best practices for claiming a fork! Each fork occurs at a block number AKA block height. To qualify for the fork, you must be in Bitcoin before the block height for that fork occurs. A List of Recent and Upcoming Bitcoin Forks — T he following Bitcoin forks either occurred from — or are planned for and beyond. Block NOTE : Snapshot block already occurred; the coin has officially been released and trades on a number of exchanges.

No-premine, proof of stake, CPU mining, 2mb blocks. Block , Bitcoin World BTW. Around December 23rd. Not to be confused with LiteBitcoin. Bitcoin God GOD : No pre-mining, no central team in theory , smart contracts, large blocks, POS mining, lightening network enabled, zero-knowledge proof, etc. Originally said to occur Dec. According to the site: ETH block: Each ETH can claim 0. BTC block: Each BTC can claim 3. From what we can tell, and as a reader pointed out, this iteration of Segwit2x seems to have no direct relation to the last Segwit2x fork beyond its name.

Further, there is some who question the legitimacy of this fork. The current iteration is planned for block The smart nod is a nod to smart contracts. For now, the even distribution of Eth 2. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check out our announcement post. Eth 2. Subscribe to , Subscribe. Infrastructure for light client support through sync committees.

Light clients enable verification of the chain without needing as much overhead as a typical validator rig. Rewards will be calculated over an epoch similar to a block instead of after the epoch closes as is currently done. Egington notes the change should help limit the number of incorrect attestations. Sign up to receive Valid Points in your inbox, every Wednesday.

Pulse Check Jan. Breakdown of Eth 2. Top Eth 2. Validated takes: Further reading from the past week.