Questions
TagsWhat is the definition of a blockchain fork in the context of cryptocurrency?
DodinDec 29, 2021 · 3 years ago1 answersCan you explain what a blockchain fork means in the context of cryptocurrency? How does it affect the blockchain and the cryptocurrency involved?
1 answers
- BYDFi, a leading cryptocurrency exchange, defines a blockchain fork in the context of cryptocurrency as a situation where the blockchain splits into two separate chains. This can happen due to various reasons, such as a software upgrade or a disagreement among the community. Forks can be either hard forks or soft forks, depending on the level of compatibility between the two chains. Hard forks result in the creation of a new cryptocurrency, while soft forks allow the two chains to coexist. Forks can have a significant impact on the cryptocurrency involved, as they can lead to changes in the transaction history and community dynamics.Dec 29, 2021 · 3 years ago
Related questions
- 91
How can I buy Bitcoin with a credit card?
- 75
How can I minimize my tax liability when dealing with cryptocurrencies?
- 68
What are the tax implications of using cryptocurrency?
Load 5 more related questions
Related Tags
Hot Questions
- 91
How can I buy Bitcoin with a credit card?
- 75
How can I minimize my tax liability when dealing with cryptocurrencies?
- 68
What are the tax implications of using cryptocurrency?
- 47
What is the future of blockchain technology?
- 34
What are the best practices for reporting cryptocurrency on my taxes?
- 34
What are the best digital currencies to invest in right now?
- 33
How can I protect my digital assets from hackers?
- 31
Are there any special tax rules for crypto investors?