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Bitcoin nearing a hard fork that will cause split into two currencies - TechAmok

Bitcoin nearing a hard fork that will cause split into two currencies - [briefly]
04:10 PM EDT - Aug,01 2017 - post a comment

Due to discrepancies in opinion between Bitcoin miners and developers on how to handle increasing transaction times, the digital currency is about to split into two separate projects. The original coin will keep its name of "Bitcoin" and the new branch is to be known as "Bitcoin Cash". This is a rather peculiar event for a digital currency to go through, although it is not unexpected. A hard fork, the process of duplicating a blockchain and continuing on a separate path, has been expected for several weeks since miners have signaled support for a fork. The miners responsible for processing transactions and generating new Bitcoins ultimately decide which of the two coins to support. Investors (or gamblers, depending upon your viewpoint) holding Bitcoins will end up with two sets of coins in their wallets. Each will operate completely independently of one another once the split is finalized. Market value of each coin will likely take some time to stabilize as creating a new currency literally overnight can have interesting effects.


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