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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.
The first hard fork splitting bitcoin happened on 1 August 2017, resulting in the creation of Bitcoin Cash. The following is a list of notable hard forks splitting bitcoin by date and/or block: Bitcoin Cash: Forked at block 478558, 1 August 2017, for each bitcoin (BTC), an owner got 1 Bitcoin Cash (BCH)
In November 2018, Bitcoin Cash experienced a contested hard fork where the project split into two cryptocurrencies: Bitcoin Cash and Bitcoin Satoshi Vision. [12] In November 2020, there was a second contested hard fork where the leading node implementation, BitcoinABC, created BCHA (now dubbed "eCash" or "XEC"). [48] [49]
The project began as a community-driven effort with six co-founders, including lead developer Hang Yin. [3] [non-primary source needed] The stated purpose of the hard fork is to change the proof of work algorithm so that ASICs (Application-Specific Integrated Circuits) which are used to mine bitcoin cannot be used to mine the Bitcoin Gold blockchain in the hopes that enabling mining on ...
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The word "fork" has been used to mean "to divide in branches, go separate ways" as early as the 14th century. [2] In the software environment, the word evokes the fork system call, which causes a running process to split itself into two (almost) identical copies that (typically) diverge to perform different tasks.
On 15 July 2016, a short notice on-chain vote was held on the DAO hard fork. [8] Of the 82,054,716 ETH in existence, only 4,542,416 voted, for a total voter turn out of 5.5% of the total supply on 16 July 2016; 3,964,516 ETH (87%) voted in favor, 1/4 of which came from a single address, and 577,899 ETH (13%) opposed the DAO fork. [8]
SegWit2x was a proposed hard fork of the cryptocurrency bitcoin. The implementation of Segregated Witness in August 2017 was only the first half of the so-called "New York Agreement" by which those who wanted to increase effective block size by SegWit compromised with those who wanted to increase block size by a hard fork to a larger block size ...