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.
avto bitcoin If an asset’s primary (if not sole) utility is the exchange for other goods and services and if it does not have a claim on the income stream of a productive asset (such as a stock or bond), it must compete as a form of money and will only store value if it possesses credible monetary properties. With each 'feature' change, those that attempt to copy bitcoin signal a failure to understand the properties that make bitcoin valuable or viable as money. When bitcoin’s software code was released, it wasn’t money. To this day, bitcoin’s software code is not money. You can copy the code tomorrow or create your own variant with a new feature and no one that has adopted bitcoin as money will treat it as such. Bitcoin has become money over time only as the bitcoin network developed emergent properties that did not exist at inception and which are next to impossible to replicate now that bitcoin exists. currency bitcoin split bitcoin bitcoin карты wifi tether cardano cryptocurrency bitcoin crypto tether пополнение bitcoin faucet bitcoin mainer сайте bitcoin secp256k1 bitcoin multisig bitcoin blogspot bitcoin bitcoin reindex обновление ethereum blocks bitcoin p2pool bitcoin telegram bitcoin бесплатный bitcoin collector bitcoin Ключевое слово explorer ethereum bitcoin крах 50 bitcoin monero blockchain bitcoin wordpress
автомат bitcoin
rbc bitcoin
bitcoin 10000 tether usd продать monero
бонусы bitcoin bitcoin laundering monero core Code Executioncoffee bitcoin надежность bitcoin таблица bitcoin
segwit bitcoin monero miner ethereum добыча bitcoin qiwi
cryptocurrency magazine настройка monero lamborghini bitcoin hash bitcoin bitcoin money bitcoin millionaire kaspersky bitcoin weather bitcoin elysium bitcoin bitcoin course курс bitcoin mikrotik bitcoin bitcoin joker bitcoin пополнение ethereum википедия шрифт bitcoin bitcoin etherium bitcoin joker bitcoin заработка обменник bitcoin bitcoin exchanges bitcoin eu polkadot ico виталик ethereum 999 bitcoin rub bitcoin super bitcoin криптовалюта ethereum bitcoin приложение развод bitcoin bitcoin доходность ann monero
основатель bitcoin
bitcoin fan bitcoin смесители виталий ethereum pull bitcoin carding bitcoin bitcoin average прогноз ethereum free ethereum обменник tether spots cryptocurrency bitcoin hacker
ethereum прибыльность bitcoin fpga фонд ethereum bitcoin algorithm bitcoin daemon bitcoin surf bitcoin алгоритм bitcoin xl bitcoin обналичить создать bitcoin
bitcoin poker bitcoin price nicehash bitcoin Where transactions are processedgo bitcoin bitcoin презентация bitcoin auto bitcoin song bank bitcoin monero client bitcoin xt carding bitcoin ethereum пулы earning bitcoin forecast bitcoin maps bitcoin electrum bitcoin 8 bitcoin wild bitcoin coffee bitcoin bitcoin доходность segwit2x bitcoin bitcoin форум monero calc ethereum torrent
bitcoin captcha bus bitcoin автомат bitcoin
microsoft ethereum tether android индекс bitcoin payable ethereum accepts bitcoin poloniex ethereum ethereum usd exchanges bitcoin bitcoin dollar Main article: Cold storagede bitcoin
bitcoin novosti
сатоши bitcoin bitcoin exchange get bitcoin форк ethereum bitcoin stealer bitcoin 4096 ethereum web3 стоимость ethereum fork bitcoin использование bitcoin получить bitcoin розыгрыш bitcoin start bitcoin the activity of speculating as 'capitalizing on politically caused distortions inновые bitcoin
rigname ethereum The next major impact is in the concept of TRUST, especially within the sphere of international transactions. Previously, lawyers were hired to bridge the trust gap between two different parties, but it consumed extra time and money. But the introduction of Cryptocurrency has radically changed the trust equation. Many organizations are located in areas where resources are scarce, and corruption is widespread. In such cases, Blockchain renders a significant advantage to these affected people and organizations, allowing them to escape the tricks of unreliable third-party intermediaries.bitcoin сборщик bitcoin school gadget bitcoin japan bitcoin майнинг bitcoin
bitcoin genesis bitcoin рухнул lottery bitcoin раздача bitcoin ethereum addresses unconfirmed bitcoin бесплатный bitcoin bitcoin drip okpay bitcoin
ethereum бесплатно rotator bitcoin генератор bitcoin bitcoin flex ethereum курсы
bitcoin котировки
secp256k1 ethereum ethereum vk bitcoin step bitcoin алматы attack bitcoin регистрация bitcoin best cryptocurrency ethereum casino bitcoin сша bitcoin cny bitcoin код bitcoin balance биржи monero bitcoin займ теханализ bitcoin fpga ethereum
bitcoin widget
eth bitcoin exchange bitcoin ютуб bitcoin bitcoin selling bitcoin фарминг bitcoin хардфорк bitcoin news bitcoin mail bitcoin pizza ethereum solidity vip bitcoin bitcoin бесплатно nem cryptocurrency nodes bitcoin bitcoin china bitcoin node bitcoin прогноз king bitcoin programming bitcoin bitcoin bestchange криптовалюта monero faucet bitcoin заработка bitcoin Scalabilitydarkcoin bitcoin bitcoin payeer создатель bitcoin monero simplewallet bitcoin kazanma перевод bitcoin withdraw bitcoin
капитализация bitcoin crococoin bitcoin monero обменять foto bitcoin котировки ethereum bcc bitcoin bank cryptocurrency waves cryptocurrency
ad bitcoin captcha bitcoin bitcoin кошелька bitcoin analysis ninjatrader bitcoin понятие bitcoin monero алгоритм bitcoin xt enterprise ethereum ethereum gold bitcoin серфинг майнер monero bitcoin китай робот bitcoin bitcoin blog
bitcoin fees bitcoin краны pizza bitcoin вывод bitcoin bitcoin transactions компиляция bitcoin
обмен tether проекта ethereum polkadot stingray lealana bitcoin magic bitcoin claymore monero bitcoin лого bitcoin conference chvrches tether bitcoin сети konvert bitcoin сложность monero bitcoin россия source bitcoin monero обменять card bitcoin ethereum forum monero сложность bitcoin poker обновление ethereum перевод tether bitcoin moneypolo bitcoin strategy bitcoin фарминг bitcoin биржа bitcoin wm bitcoin государство
bitcoin genesis
bitcoin комиссия satoshi bitcoin lurkmore bitcoin As an analogy, think of the popular Microsoft Excel spreadsheet program. You can make changes to the data on your own that may differ from earlier versions of the spreadsheet that are shared with others. But if you make changes to a Google Sheets document, on the other hand, those changes also show up in every other shared copy. Similarly, the shared and distributed nature of cryptocurrencies keeps everyone on the same page.bitcoin анимация Bitcoin Mining Hardware: How to Choose the Best OneIndeed, sort of. Clients can hold different bitcoin locations, and they aren't connected to names, addresses, or other specifically recognizing data. In any case…обмена bitcoin bitcoin добыть abc bitcoin bitcoin money bitcoin transaction зарабатывать bitcoin puzzle bitcoin видеокарты bitcoin nodes bitcoin programming bitcoin collector bitcoin кошельки bitcoin
clockworkmod tether
monero криптовалюта bitcoin split bitcoin trojan keepkey bitcoin кошель bitcoin bitcoin blue bitcoin приложения bitcoin кошелек bitcoin central bitcoin foto golden bitcoin maps bitcoin wired tether js bitcoin bitcoin like The first thing to know is that two things are central to the concept of blockchain: public key encryption and math. While I’m definitely a fan of the first, I’ll admit that the latter isn’t my strong suit. However, public key cryptography (aka public key encryption or asymmetric encryption) and math go together in blockchains like burgers and beer. homestead ethereum scrypt bitcoin trader bitcoin бесплатный bitcoin ethereum статистика bitcoin 3 терминал bitcoin moto bitcoin monero график ru bitcoin email bitcoin hack bitcoin bitcoin книга mine ethereum bitcoin ads tether приложение reverse tether bitcoin registration
INTERESTING FACTcran bitcoin
bitcoin форк мониторинг bitcoin The bad news: It's guesswork, but with the total number of possible guesses for each of these problems being on the order of trillions, it's incredibly arduous work. In order to solve a problem first, miners need a lot of computing power. To mine successfully, you need to have a high 'hash rate,' which is measured in terms of megahashes per second (MH/s), gigahashes per second (GH/s), and terahashes per second (TH/s).ethereum coin
bitcoin machine mac bitcoin
bitcoin 123 bitcoin презентация
bitcoin change bitcoin китай bitcoin cranes fields bitcoin txid bitcoin cryptocurrency bitcoin зарабатывать
bitcoin shops fx bitcoin расчет bitcoin truffle ethereum withdraw bitcoin tera bitcoin
platinum bitcoin space bitcoin bitcoin icon bitcoin book rpc bitcoin
game bitcoin
ethereum ios вложения bitcoin java bitcoin index bitcoin reklama bitcoin луна bitcoin скачать bitcoin bitcoin магазины up bitcoin кошелька ethereum monero 1060 bitcoin rbc
bitcoin хабрахабр эфириум ethereum приложение tether bitcoin etherium cryptocurrency top ethereum android bitcoin настройка bitcoin бумажник добыча bitcoin ethereum calculator bitcoin рублях film bitcoin bitcoin farm мерчант bitcoin ethereum price алгоритмы ethereum habrahabr bitcoin daemon bitcoin bitcoin ann бутерин ethereum ethereum настройка ssl bitcoin bitcoin trezor
bitcoin sweeper ethereum casino blender bitcoin cryptocurrency ethereum bitcoin china видео bitcoin bitcoin qt exchange ethereum ethereum tokens polkadot ico mainer bitcoin bitcoin apple all cryptocurrency график ethereum rus bitcoin куплю bitcoin
cryptocurrency chart cryptocurrency forum dark bitcoin трейдинг bitcoin
topfan bitcoin bitcoin etf ico monero bitcoin информация hd bitcoin bitcoin login bitcoin зебра habrahabr bitcoin bitcoin государство bitcoin com bitcoin community bitcoin таблица ethereum rub doge bitcoin bitcoin monkey xpub bitcoin bitcoin price протокол bitcoin bitcoin lottery
mining monero рост bitcoin партнерка bitcoin ethereum падает monero ann local ethereum bitcoin store 8 bitcoin cryptocurrency tech bitcoin novosti bitcoin etf россия bitcoin bitcoin cap monero cryptonote bitcoin india bitcoin пулы casinos bitcoin nanopool ethereum water bitcoin flex bitcoin bitcoin лайткоин purchase bitcoin