The Capital
Published in

The Capital

Bitcoin Forks

History of the most significant BTC forks

History of Bitcoin forks

Bitcoin had more than 40 forks since 2017. It is nearly impossible to describe all of them. However, it is important to know some information about successful forks.

Litecoin (LTC)

Litecoin forked from Bitcoin in 2011. The main aim was to increase the number of transactions and to shorten the time of transactions. Also the hashing algorithm was changed. It was created by Charlie Lee.

Bitcoin XT

Bitcoin XT appeared in 2014 as a BTC fork. This was a result of the debate within the Bitcoin community about increasing the block size.

Zcash (ZEC)

Originally Zcash was known as Zerocoin. This fork took place in October 2018. Unlike Bitcoin, Zcash has two types of transactions: transparent and private. Users are able to choose how open to the world they want to be. Another important difference is that Zcash uses a Zero-knowledge protocol (ZKP). This protocol changes the process of verifying information. In this case, the one who verifies does not have to know the contents of what he/she verifies.

Bitcoin Cash (BCH)

Bitcoin Cash is a result of a Bitcoin hard fork, which took place in August 2017. This fork helped to increase the block size to 8 Mb, which was a great improvement at that moment. Now its block size is 32 Mb.

Bitcoin SV (BSV)

The full name of this coin is Bitcoin Satoshi’s Vision. It appeared as a result of a Bitcoin Cash fork in November 2018. The reason for this fork was a desire to increase the block size. The decision to split came after one of the upgrades.

Bitcoin Gold (BTG)

Another Bitcoin fork also happened in October 2017. That time the main idea was to democratize the process of mining, increase its decentralization. The most revolutionary idea was to make miners use GPU instead of ASIC. Bitcoin Gold used the same protocol as Bitcoin.

Bitcoin Diamond (BCD)

The next hard fork happened in November 2017. The proof-of-work algorithm was changed and the number of possible transactions per second was increased. The main purpose was to achieve more anonymity.

Super Bitcoin (SBTC)

Super Bitcoin came to the Crypto World as a fork in 2017. In this version, developers added smart contracts, and made blocks bigger. SBTC also used the Lightning Network as a payment protocol.

Bitcoin Atom (BCA)

This fork happened in January 2018. Bitcoin Atom uses a hybrid consensus and built-in hash time-locked contracts. Developers claim Bitcoin Atom is more decentralized than the original Bitcoin.

Upcoming Bitcoin fork

Unfortunately, it is rather hard to talk about the upcoming forks. First of all, because not all the declared forks happen. Secondly, because it is impossible to write a list of upcoming forks once and for all. This information changes often. The best way to stay informed is to monitor resources that post relative information. You can check out these websites: forkmonitor.info/nodes/btc or forkdrop.io

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
SimpleSwap.io

SimpleSwap is an instant easy-to-use crypto exchange free from sign-up with over 600 cryptocurrencies to swap, buy and sell.