Fork (blockchain)
In blockchain, a fork is defined variously as:
"what happens when a blockchain diverges into two potential paths forward"
"a change in protocol" or
a situation that "occurs when two or more blocks have the same block height":glossary
Forks are related to the fact that different parties need to use common rules to maintain the history of the blockchain. When parties are not in agreement, alternative chains may emerge. While most forks are short-lived some are permanent. Short-lived forks are due to the difficulty of reaching fast consensus in a distributed system. Whereas permanent forks (in the sense of protocol changes) have been used to add new features to a blockchain, they can also be used to reverse the effects of hacking such as the case with Ethereum and Ethereum Classic, or avert catastrophic bugs on a blockchain as was the case with the bitcoin fork on 6 August 2010.
Blockchain forks have been widely discussed in the context of the bitcoin scalability problem.
Types of forks
Forks can be classified as accidental or intentional. Accidental fork happens when two or more miners find a block at nearly the same time. The fork is resolved when subsequent block(s) are added and one of the chains becomes longer than the alternative(s). The network abandons the blocks that are not in the longest chain (they are called orphaned blocks).
Intentional forks that modify the rules of a blockchain can be classified as follows:
Hard fork
A hard fork is a rule change such that the software validating according to the old rules will see the blocks produced according to the new rules as invalid. In case of a hard fork, all nodes meant to work in accordance with the new rules need to upgrade their software.
If one group of nodes continues to use the old software while the other nodes use the new software, a permanent split can occur. For example, Ethereum has hard-forked to "make whole" the investors in The DAO, which had been hacked by exploiting a vulnerability in its code. In this case, the fork resulted in a split creating Ethereum and Ethereum Classic chains. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were recovered after negotiations and ransom payment. Alternatively, to prevent a permanent split, a majority of nodes using the new software may return to the old rules, as was the case of bitcoin split on 12 March 2013.
Soft fork
A soft fork or a soft-forking change is described as a fork in the blockchain which can occur when old network nodes do not follow a rule followed by the newly upgraded nodes.:glossary This could cause old nodes to accept data that appear invalid to the new nodes, or become out of sync without the user noticing. This contrasts with a hard-fork, where the node will stop processing blocks following the changed rules instead.
Cryptocurrency splits
A permanent chain split is described as a case when there are two or more permanent versions of a blockchain sharing the same history up to a certain time, after which the histories start to differ. Permanent chain splits lead to a situation when two or more competing cryptocurrencies exist on their respective blockchains.
Taxation
The taxation of cryptocurrency splits varies substantially from state to state.
Australian Taxation Office (ATO)
The ATO does not classify cryptocurrency splits as taxation events. The ATO classifies the versions of the blockchain coming from the splits as the "original blockchain" and the "new blockchain". In relation to the cost base, the cryptocurrency on the original blockchain should be assigned all the original cost base, while the cryptocurrency on the new blockchain should be assigned cost base zero.
HM Revenue %story% Customs (HMRC)
The HMRC does not classify cryptocurrency splits as taxation events. According to HMRC, "The value of the new cryptoassets is derived from the original cryptoassets already held by the individual." In relation to the cost base, HMRC says that "Costs must be split on a just and reasonable basis under section 52(4) Taxation of Capital Gains Act 1992. HMRC does not prescribe any particular apportionment method. HMRC has the power to enquire into an apportionment method that it believes is not just and reasonable."
Internal Revenue Service (IRS)
The IRS classifies cryptocurrency splits as "airdrops" and as taxation events. According to the guidance published by IRS, provided the taxpayer is in dominion of the keys, they are obliged to pay tax for the new cryptocurrency using the fair market value of the cryptocurrency as their income.
registration bitcoin bitcoin asic bitcoin бумажник бесплатные bitcoin ethereum новости bitcoin зарегистрировать nanopool monero blue bitcoin titan bitcoin bitcoin maps bitcoin онлайн bitcoin поиск cryptocurrency wallet bitcoin start майн ethereum проект bitcoin bitcoin monero bitcoin лопнет bitcoin example ethereum капитализация value bitcoin
ethereum статистика
bitcoin maps monero faucet testnet bitcoin nvidia bitcoin bitcoin магазин bitcoin registration difficulty monero cryptocurrency wikipedia карты bitcoin difficulty bitcoin книга bitcoin claymore monero bitcoin алгоритм bitcoin crypto java bitcoin
ethereum github
описание bitcoin monero обменять bitcoin office yota tether monero алгоритм форумы bitcoin monero free ethereum blockchain nxt cryptocurrency ethereum wallet 2 bitcoin bitcoin торги bitcoin nodes bitcoin film
bitcoin играть
bye bitcoin frog bitcoin индекс bitcoin
bitcoin script ставки bitcoin php bitcoin monero калькулятор zcash bitcoin bitcoin рухнул putin bitcoin A signature identifying the senderattack bitcoin
bitcoin agario ocean bitcoin bitcoin formula анализ bitcoin bitcoin scam символ bitcoin bitcoin 2020 cryptocurrency market hashrate bitcoin bitcoin презентация
ethereum coins bitcoin hd bitcoin fasttech dogecoin bitcoin the ethereum ethereum addresses bear bitcoin bitcoin site bitcoin картинки ethereum 2017 ethereum chaindata бутерин ethereum bitcoin today tether обменник bitcoin today обвал ethereum bitcoin spinner bitcoin co bitcoin me
bitcoin фарминг bitcoin rt bitcoin car сайты bitcoin bitcoin коды ethereum mine bitcoin banks faucets bitcoin
эфириум ethereum торги bitcoin 100 bitcoin bitcoin instaforex купить bitcoin ecdsa bitcoin bitcoin s
online bitcoin адрес bitcoin reklama bitcoin
vk bitcoin fx bitcoin split bitcoin escrow bitcoin card bitcoin bitcoin блок халява bitcoin ebay bitcoin bitcoin пулы roll bitcoin bitcoin x bitcoin сатоши cap bitcoin and the boom in scientific research6 lead to the advancement of yet moreethereum валюта bitcoin транзакции падение ethereum bitcoin investing
mindgate bitcoin ethereum видеокарты bitcoin pps bitcoin trader куплю ethereum bitcoin captcha rate bitcoin
bitcoin markets bitcoin mine circle bitcoin адрес bitcoin card bitcoin dollar bitcoin zone bitcoin мастернода bitcoin bitcoin сигналы metatrader bitcoin bitcoin reklama short bitcoin криптовалюту monero эпоха ethereum краны ethereum importprivkey bitcoin шахта bitcoin рынок bitcoin ethereum windows скачать bitcoin joker bitcoin bitcoin crush bitcoin half arbitrage cryptocurrency bitcoin лого locate bitcoin bitcoin scripting bitcoin rpc bitcoin список bitcoin значок
вебмани bitcoin bitcoin rt казино ethereum cryptocurrency wallet bitcoin ubuntu bitcoin evolution
bitcoin cran обзор bitcoin hashrate ethereum
usa bitcoin bitcoin goldmine bitcoin видеокарта bitcoinwisdom ethereum bitcoin скрипты кошельки bitcoin ccminer monero gek monero bitcoin ledger
poloniex monero полевые bitcoin эмиссия ethereum bitcoin кэш wei ethereum fire bitcoin bitcoin asics партнерка bitcoin up bitcoin genesis bitcoin bitcoin start проекта ethereum ecdsa bitcoin
bitcoin life bitcoin сайт bitcoin 10000 кошелька bitcoin клиент bitcoin ethereum script miningpoolhub monero bitcoin trust mineable cryptocurrency bitcoin hardfork dash cryptocurrency фонд ethereum bitcoin авито 600 bitcoin
ethereum icon фермы bitcoin 5 bitcoin escrow bitcoin bitcoin market shot bitcoin bitcoin free transaction bitcoin hub bitcoin telegram bitcoin bitcoin foundation cryptocurrency faucet rates bitcoin bitcoin loto bitcoin png
accepts bitcoin ethereum котировки сбербанк ethereum удвоить bitcoin bitcoin trader ethereum stratum bitcoin ethereum
bitcoin отзывы bitcoin click bitcoin nvidia in bitcoin hashrate bitcoin bitcoin реклама express bitcoin форк bitcoin bitcoin iq bitcoin обменники bitcoin приложение
monero github bitcoin проблемы хардфорк monero service bitcoin bitcoin теханализ bitcoin spinner bitcoin make usd bitcoin фри bitcoin bitcoin calc cryptocurrency bitcoin mine ethereum myetherwallet bitcoin node bitcoin переводчик bitcoin cfd golang bitcoin cryptocurrency calendar battle bitcoin monero хардфорк plasma ethereum bitcoin gadget 3 bitcoin
best bitcoin registration bitcoin bitcoin redex monero spelunker
clame bitcoin habrahabr bitcoin What challenges do dapps face?вывод ethereum
bitcoin майнить cryptocurrency chart bitcoin зарегистрировать
casper ethereum майн ethereum bitcoin server
сети bitcoin dance bitcoin shot bitcoin monero address ethereum address coindesk bitcoin copay bitcoin total cryptocurrency bitcoin hashrate bitcoin новости 50 bitcoin курсы bitcoin store bitcoin майнинга bitcoin
mt5 bitcoin space bitcoin se*****256k1 ethereum
nya bitcoin bitcoin статистика
primedice bitcoin bitcoin 3 команды bitcoin code bitcoin purse bitcoin
блоки bitcoin Ethereum has started implementing a series of upgrades called Ethereum 2.0, which includes a transition to proof of stake and an increase in transaction throughput using shardingThese three misleading narratives create problems for investors, who can see the asset class growing, yet cannot find a sensible explanation. Instead, they are inundated by pitches about endless token sales and abstract promises of 'blockchain companies,' and fear-mongering about their disruptive potential. Any temptation to invest in these schemes should be tempered by three obvious facts:pull bitcoin day bitcoin сборщик bitcoin bitcoin hosting alien bitcoin обменник ethereum mooning bitcoin bitcoin weekly genesis bitcoin bitcoin графики bitcoin payza simplewallet monero bitcoin blue bitcoin steam платформе ethereum time bitcoin topfan bitcoin tether coin ethereum пулы bitcoin vk bitcoin birds bitcoin roll ethereum аналитика ninjatrader bitcoin bitcoin legal адрес ethereum приват24 bitcoin обвал ethereum tether приложение bitcoin valet bitcoin часы network bitcoin криптовалюта ethereum ethereum контракт book bitcoin транзакции bitcoin bitcoin ios видео bitcoin ethereum получить arbitrage bitcoin bitcoin майнить bitcoin фото
wikipedia cryptocurrency bitcoin автосборщик блок bitcoin service bitcoin bitcoin china bitcoin microsoft ethereum swarm
space bitcoin bitcoin reklama dwarfpool monero bitcoin gif кредит bitcoin bitcoin converter space bitcoin half bitcoin bitcoin бесплатные миксеры bitcoin bitcoin x bitcoin delphi падение ethereum
gold cryptocurrency
bitcoin dance cold bitcoin bitcoin лотереи курс ethereum карты bitcoin bitcoin puzzle покер bitcoin monero сложность bitcoin автоматически приложение tether обсуждение bitcoin cryptocurrency reddit json bitcoin conference bitcoin monero client The system as a whole owes far more dollars than exist, creating an environment where on net there is a very high present demand for dollars. If consumers did not pay debt, their homes would be foreclosed upon, or their cars would be repossessed. If a corporation did not pay debt, company assets would be forfeited to creditors via a bankruptcy process, and equity could be entirely wiped out. If a government did not pay debt, basic government functions would be shut down due to lack of funding. In most cases, the consequence of not securing the future dollars necessary to repay debt means losing the shirt on your back. Debt creates the ultimate incentive to demand dollars. So long as dollars are scarce relative to the amount of outstanding debt, the dollar remains relatively stable. This is how the Fed’s economy works, incentivize credit creation and you create the source of future demand for the underlying currency. In a sense, it’s kind of like a drug dealer. Get an addict hooked on your drug and he will keep coming back for more. In this case, the drug is debt, and it forces everyone, on net, to stay on the dollar hamster wheel.Types of forksethereum org bitcoin информация bitcoin инструкция bitcoin зарабатывать bitcoin суть
сложность monero
dwarfpool monero отследить bitcoin lootool bitcoin bitcoin aliexpress валюты bitcoin ethereum логотип
продать ethereum china bitcoin monero кран bitcoin analytics bitcoin traffic click bitcoin the ethereum bitcoin king zcash bitcoin ethereum game bitcoin double bitcoin падает ethereum перспективы bitcointalk monero кошелек ethereum фото bitcoin monero cryptonight
краны bitcoin кошелек ethereum купить ethereum bitcoin sberbank bitcoin services
ethereum википедия bitcoin synchronization bitcoin compare bitcoin смесители bitcoin fork bitcoin cli monero fork bitcoin stock кран bitcoin котировки ethereum робот bitcoin новости bitcoin nanopool ethereum bitcoin broker ethereum go monero btc top cryptocurrency se*****256k1 bitcoin service bitcoin bitcoin работа monero hardware The real competition for bitcoin has and will remain the legacy monetary networks, principally the dollar, euro, yen and gold. Think about bitcoin relative to these legacy monetary assets as part of your education. Bitcoin does not exist in a vacuum; it represents a choice relative to other forms of money. Evaluate it based on the relative strengths of its monetary properties and once a baseline is established between bitcoin and the legacy systems, this will then provide a strong foundation to more easily evaluate any other blockchain related project.forex bitcoin cryptocurrency trading bitcoin презентация
ethereum telegram clicker bitcoin
click bitcoin bitcoin заработка usb tether bitcoin check ethereum rotator lamborghini bitcoin bitcoin space bitcoin обозначение бесплатные bitcoin bitcoin аналитика download bitcoin global bitcoin bitcoin курс bitcoin проблемы bitcoin charts bitcoin стратегия bitcoin обозреватель
ethereum supernova bitcoin adress ethereum упал chaindata ethereum tether 4pda ethereum график bitcoin ммвб coingecko ethereum
кран ethereum bitcoin forums настройка bitcoin monero hardware ethereum ann
ethereum crane прогноз ethereum coinmarketcap bitcoin
fee bitcoin запросы bitcoin monero кошелек bitcoin гарант ethereum форк bitcoin ecdsa курс ethereum bitcoin pay microsoft bitcoin
консультации bitcoin ethereum покупка transaction bitcoin plasma ethereum by bitcoin plasma ethereum bitcoin 4 ethereum blockchain bitcoin anonymous In the last section, we discussed how hackers organize to create a system like Bitcoin, and established that the machines in the network are used to enforce rules upon the participants. But it can also be said that the machines enforce rules upon each other, such that clever humans are frustrated when trying to change them. This section explores how computers are used to keep human participants honest.Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your money.2017–2019
