Bitcoin Fork — Increase trading capacity
Ethereum Hard Fork was introduced earlier, and of course, the fork of Bitcoin was also introduced. As the big brother of cryptocurrency, Bitcoin’s fork is no less important, and there are many forks. The reason why there are forks is that it is very difficult for the public to reach a consensus, so the divergence of opinions has led to multiple forks and thus multiple blockchains. However, each fork must have a complete ecosystem and require a sufficient amount of community support for many applications to be willing to use it and for chains and projects to mutually benefit from it, so many forks are only short-lived.
Although Bitcoin doesn’t have as many applications as Ether, it was the first cryptocurrency in history, and its limited characteristics have given it the title of digital gold, which is why it is still standing today.
The Bitcoin fork is largely motivated by the “Bitcoin Scalability Problem”. This debate boils down to one fact: Bitcoin’s core block size is currently limited to 1 MB, thus limiting transaction throughput to 7 tx/s. This limited block size is related to security and decentralization. This article first introduces the client-side forks of Bitcoin, both of which attempted to increase the network's transaction capacity but failed to achieve most of the hash computing power.
Bitcoin Classic (BXC)
This is a fork implemented by Bitcoin Core Reference to expand the block size to 2MB (originally 1MB). The token after the fork is BXC, which is now priced at around 0.04 U.
Image Source： CoinMarketCap
BitcoinXT
Bitcoin XT was created by Mike Hearn in 2014 as a fork of Bitcoin Core. In the middle of 2015, Bitcoin XT gained increasing public support. And as Bitcoin network adoption and transaction volumes increased, Gavin Andreesen, one of the first developers working with Nakamoto on Bitcoin Core at the time, proposed BIP 101. BIP 101 proposed increasing the block size from 1 MB to 8 MB and then steadily increasing the transaction speed to 24 tx/s. This upgrade required 75% network support, but the required consensus was not reached, and as a result, a fork of Bitcoin occurred.
Image Source：https://en.bitcoinwiki.org/wiki/Bitcoin_XT
Bitcoin Unlimited (BU)
A tool to help the Bitcoin industry reach a consensus on increasing block size and enforcing it. It is simply a way for nodes and bitcoin miners to agree or disagree on increasing the block size. And when most people agree that the block size needs to be increased, Bitcoin Unlimited is able to do it. In contrast to Bitcoin’s block size limit of 1MB, Bitcoin Unlimited removes the block size limit and allows users to negotiate the block size.
The protocol used by Bitcoin Unlimited is managed through a formal process described in the Bitcoin Alliance. It is an alternative protocol to the already published Bitcoin XT and Bitcoin Classic specifications to increase Bitcoin's transaction capacity to approximately 2.5–3 transactions per second.
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Reference article:
https://m.jinse.com/news/bitcoin/25150.html
