Cryptocurrencies evolve in such a way that many have offshoots that exist separately from the base. So the separation of an element from the cryptocurrency is called fork.
Little is known about forks, as it is mostly program code that may interest only a programmer.
But still this is an erroneous statement. Indeed, the very concept of "fork" is interesting for its component, and is also the main element for those who want to develop their cryptocurrency.
What is a fork in the world of cryptocurrencies
However, a fork is not just a fork. The fact is that there are projects that after a while lose interest for the developer. Either there is little investment or not enough knowledge. In this case, a "fork" is written as a program code that creates a specific base of a code sample.
This is what gives a start to new branches and projects. Many people use forks just to save their projects. For example, this was the case with Bitcoin.
How the idea of the fork was born
Realizing that bitcoin is losing popularity, back in 2013, it was decided to split off some of the code to create Bitcoin Gold, and subsequently Bitcoin Cash. These separations from bitcoin have only strengthened and developed bitcoin itself. However, such a "fork" has its consequences.
For example, separation from the mainstream cryptocurrency requires strong protection. After the two forks from bitcoin were formed and their price increased, many exchanges were subject to strong hacker attacks. Bitcoin Cash and Gold were protected only after a couple of months, but before that there were many hacks and cryptocurrencies were under attack.
That is, thus, we can say that forks are special codes in the program that creates the cryptocurrency. This is also referred to as "branching".
Its task is not only to create a new and separate type of cryptocurrency, but also to protect those cryptocurrency projects that are losing popularity. Fork is an interesting element that cryptocurrency developers need as a "last resort".
That's basically all that is known about forks. It should be understood that forks are of interest only to those who are fond of the program code, or want to learn more about cryptocurrency. And those who are fond of such things understand everything correctly. Namely, cryptocurrencies are the future of humanity, and the opportunity for an ordinary person to earn more than $ 10,000 is a nice prize for those who managed to understand this in time. We hope that thanks to this article, you learned a lot about forks and how this concept affects the cryptocurrency itself.
The Topic of Article: What is a cryptocurrency fork?.