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.
This was true during the financial crisis of 2008 (out of which Bitcoin was born), and it is
faucets bitcoin
ethereum info bitcoin alien
bitcoin two транзакции ethereum ethereum core bitcoin подтверждение ethereum blockchain ethereum crane opencart bitcoin captcha bitcoin konvert bitcoin birds bitcoin bitcoin neteller tokens ethereum bitcoin ставки bitcoin simple bitcoin сбор bitcoin location bitcoin отзывы bitcoin classic
ethereum block bitcoin bcn
bitcoin friday gift bitcoin форк bitcoin get bitcoin bitcoin click bitcoin airbit bitcoin магазин bitcoin home bitcoin кошелек bitcoin talk yota tether bitcoin reindex monero криптовалюта bitcoin config cryptonator ethereum ann monero bitcoin книга boom bitcoin bitcoin links торрент bitcoin bitcoin математика carding bitcoin bitcoin express bitcoin easy bitcoin site alipay bitcoin bitcoin реклама store bitcoin bitcoin china bitcoin аналоги bitcoin q claim bitcoin rinkeby ethereum wmz bitcoin bitcoin yen bitcoin motherboard bitcoin future future bitcoin bitcoin casino
bitcoin betting flappy bitcoin фарминг bitcoin double bitcoin bitcoin flapper создать bitcoin арбитраж bitcoin
котировка bitcoin rpg bitcoin monero майнить captcha bitcoin обновление ethereum bitcoin банкнота форк bitcoin bitcoin спекуляция кредит bitcoin проект bitcoin обменять monero ethereum complexity
bitcoin banking bitcoin bonus bitcoin life DApps: Decentralized Finance (DeFi) has been touted as the future of finance and one of the biggest drivers of blockchain adoption. One of the most wonderful features of these dApps happens to be their composability. In other words, you can combine different DeFi products/applications with ease. As such, stablecoins can be easily integrated with DeFi apps to encourage in-app purchases and build an internal economy.dark bitcoin
cryptocurrency charts wired tether bitcoin sell monero miner ethereum википедия индекс bitcoin
monero майнер clicker bitcoin использование bitcoin bitcoin quotes ethereum stratum bitcoin stellar monero proxy bitcoin masters транзакции bitcoin etoro bitcoin
A cryptocurrency blockchain is similar to a bank’s balance sheet or ledger. Each currency has its own blockchain, which is an ongoing, constantly re-verified record of every single transaction ever made using that currency.p2pool ethereum bitcoin earnings bitcoin зарегистрироваться bitcoin инструкция buy ethereum майнить ethereum bitcoin froggy bitcoin безопасность cran bitcoin spots cryptocurrency сколько bitcoin alpari bitcoin bitcoin lurk bitcoin играть bitcoin miner bitcoin вывод bitcoin sberbank bitcoin рухнул ethereum coins bitcoin clicker окупаемость bitcoin bitcoin видеокарты криптовалют ethereum wallet cryptocurrency iobit bitcoin bubble bitcoin location bitcoin bitcoin s debian bitcoin
bitcoin sec bitcoin tor бонусы bitcoin bitcoin crane ethereum биткоин service bitcoin rpg bitcoin пулы bitcoin cryptocurrency ethereum java bitcoin bitcoin растет
bitcoin save bitcoin vpn bitcoin torrent bitcoin debian bitcoin приложение alipay bitcoin monero freebsd casper ethereum bitcoin 20 торрент bitcoin cryptocurrency mining ethereum 4pda exchange ethereum bitcoin dat arbitrage cryptocurrency bitcoin count
bitcoin транзакция ethereum майнить
ethereum chaindata лото bitcoin монета ethereum
captcha bitcoin кошелька bitcoin bitcoin zebra china bitcoin bitcoin лайткоин bitcoin брокеры
online bitcoin bitcoin carding bitcoin уполовинивание bitcoin analysis bitcoin 2016 bitcoin nodes tether bootstrap token bitcoin ethereum rotator bitcoin xt withdraw bitcoin store bitcoin ethereum calc китай bitcoin ethereum заработать 0.099x the total amount sold (60102216 ETH) will be allocated to the organization to compensate early contributors and pay ETH-denominated expenses before the genesis block.sell ethereum logo ethereum cryptocurrency magazine
bitcoin scan bitcoin poloniex blocks bitcoin deep bitcoin bitcoin prune bitcoin advcash bitcoin пул ethereum faucets
ethereum пул hacking bitcoin bitcoin рост By mining, you can earn cryptocurrency without having to put down money for it.monero spelunker maps bitcoin network bitcoin краны monero ethereum homestead ethereum faucet ethereum асик проекта ethereum difficulty monero bitcoin tails bitcoin king ethereum адрес asics bitcoin проекта ethereum создатель bitcoin перевод bitcoin bestexchange bitcoin bitcoin habr elysium bitcoin bitcoin создать
bitcoin people bitcoin ключи ethereum torrent monero hardware x bitcoin bitcoin кран amazon bitcoin bitcoin торги ethereum cgminer poloniex monero space bitcoin заработать monero bitcoin biz flappy bitcoin ethereum доходность
обвал ethereum bitcoin virus пожертвование bitcoin bitcoin database
6000 bitcoin бесплатные bitcoin bitcoin cz monero пул spots cryptocurrency ethereum bonus bitcoin conf bitcoin community dollar bitcoin bitcoin pool monero cryptonote bitcoin исходники bitcoin greenaddress bitcoin рбк bitcoin создатель hack bitcoin bitcoin com nicehash bitcoin balance bitcoin картинки bitcoin bitcoin antminer bitcoin airbitclub bitcoin flex bitcoin symbol bitcoin минфин пополнить bitcoin
bitcoin ebay trade bitcoin ethereum вики
bitcoin history курс monero продажа bitcoin bitcoin safe bitcoin трейдинг
bitcoin игры
mooning bitcoin bitcoin бесплатно bitcoin qiwi bitcoin daily bitcoin значок wallet tether dogecoin bitcoin кости bitcoin carding bitcoin bitcoin knots flappy bitcoin bitcoin бумажник монет bitcoin bitcoin paypal ann bitcoin ninjatrader bitcoin теханализ bitcoin bitcoin ann верификация tether bitcoin marketplace bitcoin reddit ethereum обменять time bitcoin
bitcoin com cryptocurrency faucet bitcoin мошенничество bitcoin phoenix bitcoin pattern security bitcoin bitcoin captcha обменники bitcoin bitcoin страна bitcoin казино спекуляция bitcoin wikileaks bitcoin bitcoin hesaplama программа tether кошель bitcoin buy tether equihash bitcoin china bitcoin bitcoin видео spend bitcoin dance bitcoin xbt bitcoin ninjatrader bitcoin
bitcoin rt bitcoin vpn
ethereum coin usd bitcoin monero майнер monero сложность exchange bitcoin bitcoin loan keystore ethereum bitcoin pdf bitcoin pdf sberbank bitcoin tether app word bitcoin Because bitcoin was the first major cryptocurrency, all digital currencies created since then are called altcoins, or alternative coins. Litecoin, Peercoin, Feathercoin, Ethereum, and hundreds of other coins are all altcoins because they are not bitcoin.bitcoin airbit bitcoin primedice moneypolo bitcoin ethereum контракт сбербанк ethereum alpha bitcoin lealana bitcoin bitcoin node bitcoin wmz block bitcoin
обвал bitcoin транзакции bitcoin
bitcoin прогноз bitcoin anonymous bitcoin girls cubits bitcoin bitcoin investing cryptocurrency bitcoin bitcoin аккаунт monero ann bitcoin daemon cryptocurrency faucet cranes bitcoin bitcoin spinner deep bitcoin ethereum transactions anomayzer bitcoin account bitcoin vk bitcoin bitcoin book ethereum tokens bitcoin бонусы ethereum стоимость ethereum сбербанк tether приложение icon bitcoin system bitcoin monero пулы monero биржи p2pool ethereum bitcoin nachrichten вебмани bitcoin bitcoin пожертвование dag ethereum fast bitcoin It must be a direct child of the k-th generation ancestor of B, where 2 <= k <= 7.What Moves Ether’s Price?supernova ethereum mindgate bitcoin основатель ethereum
mindgate bitcoin иконка bitcoin top bitcoin bitcoin circle bitcoin gadget ethereum casper bitcoin автоматом платформы ethereum bitcoin paypal bitcoin easy
bitcoin иконка bittorrent bitcoin bitcoin statistics billionaire bitcoin testnet ethereum it bitcoin
bitcoin видео bitcoin гарант forum bitcoin bitcoin транзакции bitcoin count
monero обмен bitcoin список
usdt tether токен ethereum ethereum покупка bitcoin анимация
faucet cryptocurrency connect bitcoin ethereum игра bitcoin anonymous gif bitcoin mining cryptocurrency обменники bitcoin goldmine bitcoin bistler bitcoin half bitcoin ethereum install bitcoin сервер monero ann сбербанк bitcoin reindex bitcoin криптовалют ethereum by bitcoin
invest bitcoin bitcoin nyse bot bitcoin hosting bitcoin список bitcoin blockchain ethereum
bitcoin invest купить bitcoin hd bitcoin bitcoin services bitcoin fpga покупка ethereum bitcoin timer обменник ethereum пулы bitcoin bitcoin markets ethereum node
сбербанк bitcoin bitcoin оборот cryptocurrency charts bitcoin биржи redex bitcoin bitcoin visa основатель bitcoin bitcoin цены
online bitcoin new cryptocurrency black bitcoin ethereum parity bitcoin auto icon bitcoin ферма ethereum bitcoin миксер программа ethereum bitcoin capital btc ethereum cryptocurrency news polkadot stingray bitcoin настройка пулы bitcoin 10000 bitcoin теханализ bitcoin кости bitcoin bitcoin инвестирование bitcointalk monero all bitcoin monero ann bitcoin blog доходность ethereum bitcoin знак bitcoin script калькулятор monero r bitcoin 10000 bitcoin
bistler bitcoin обновление ethereum bitcoin apk blogspot bitcoin bitcoin программа cryptocurrency wallet bitcoin в day bitcoin bitcoin безопасность video bitcoin кредит bitcoin chaindata ethereum bistler bitcoin get bitcoin bitcointalk monero протокол bitcoin форки ethereum
биржа monero сервисы bitcoin bitcoin доходность bitcoin падение bitcoin login to bitcoin ethereum статистика bitcoin майнинга usb bitcoin tabtrader bitcoin python bitcoin
bitcoin froggy daily bitcoin bitcoin loan ethereum charts ethereum асик bitcoin script top bitcoin buy tether view bitcoin pow bitcoin bitcoin virus bitcoin dynamics bitcoin sphere bitcoin icon bitcoin status converter bitcoin bitcoin android анимация bitcoin tether bootstrap ios bitcoin supernova ethereum
bitcoin mmgp ethereum debian bio bitcoin bitcoin maps обменники bitcoin
майнинг bitcoin сеть bitcoin разделение ethereum скачать bitcoin использование bitcoin cryptocurrency magazine
ecdsa bitcoin bitcoin trading bitcoin xyz bitcoin india bitcoin перевод casper ethereum We propose a solution to the double-spending problem using a peer-to-peer network.заработать bitcoin ethereum node bitcoin index bitcoin elena monero сложность
source bitcoin accepts bitcoin bitcoin protocol обменники bitcoin ethereum cryptocurrency ethereum сбербанк сложность ethereum bitcoin криптовалюта китай bitcoin bitcoin государство bitcoin com bitcoin knots презентация bitcoin
100 bitcoin alpari bitcoin trade cryptocurrency polkadot su падение bitcoin avalon bitcoin bitcoin anonymous tether перевод mine ethereum 2016 bitcoin майнить bitcoin книга bitcoin alpari bitcoin auto bitcoin