A cryptocurrency fork occurs when there is a divergence in the blockchain, resulting in two separate versions of the cryptocurrency. This can happen due to updates or changes in the software. Forks can be classified as hard forks or soft forks, depending on their impact on the blockchain’s compatibility.
In 2008, an unknown person or group of people using the pseudonym “Satoshi Nakamoto” published a white paper explaining the idea of a decentralized digital currency named Bitcoin. Blockchain forks have received a lot of attention in the context of the bitcoin scalability issue.
The evolution of cryptocurrency splits has resulted in a wide range of digital assets, such as Litecoin, each resulting from a unique fork scenario. These alternative cryptocurrencies frequently develop as responses to specific difficulties or as features that differ from their predecessors........
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