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How To Fork Bitcoin

How Are Creating Forks? All About Cryptocurrency - Bitcoin Wiki

How Are Creating Forks? All About Cryptocurrency - Bitcoin Wiki

Bitcoin client is written in C + +. To create a new cryptocurrency one has to have certain skills and abilities in programming. Changing a couple of lines of code will not get you anywhere. For example, co-founder of Dogecoin, a software engineer from Portland had to spend a few days of work to make a cryptocurrency not very different from Litecoin: the only significant changes were made to emission rate and the reward for a single block mined. Accordingly, cryptocurrencies that are significantly different from those already existing require much more time to program. All necessary data to create new cryptocurrency or to simply familiarize oneself with the technical details of Bitcoin is kept in "cloud storages" and is available to everyone. github.com source code of Bitcoin client, which was called Bitcoin core since version 0.9.0, is stored here. sourceforge.net another storage of early Bitcoin builds. Online services for fork creation[ edit ] There are resources which can help creating your own fork without necessary programming skills or any insight into programming whatsoever. These services obviously dont allow one to create something that would radically differ from all the rest forks. However with their help something like Dogecoin can be created. The process of creation is fairly simple. One just has to input all necessary data into the corresponding fields present in fork creation form: Abbreviation, an index consisting of three letters An ICON that serves as a depiction of the new fork Pick an encryption algorithm. The choice consists of just two principal algorithms: SHA-256 (Bitcoin) and Scrypt (Litecoin). However such services arent free. Youll have to spend 0.01 BTC to create your cryptocurrency. You will also have to spend an additional 0.1 BTC to recei Continue reading >>

Why Hard Forks Are Good Forbitcoin

Why Hard Forks Are Good Forbitcoin

Image Credit: An optimistic outlook on how Bitcoin Blockchain splits may actually help to advance the Cryptocurrency eco-system Whereas to the general public this is a phrase most associated with motoring, to the cryptocurrency community, a hard fork represents something much more serious. Without going in any precise details, during a hard fork, the blockchain of a cryptocurrency splits to form two (often competing) forms of the currency. It occurs when sets of stakeholders within a cryptocurrency (normally miners and developers) have a conflicting perspective on how it should develop. Bitcoin itself has had just the two (major) hard forks in recent years, with the inception of Bitcoin Cash on August 1st earlier this year, followed by Bitcoin Gold on October 23rd. However, we know that there is at least a 3rd scheduled for Nov 25th in the form of Bitcoin Segwit 2x, or B2X as it seems to be widely referred to. Forks create a fair deal of FUD and pandemonium, and most Bitcoin aficionados desperately hoped that Bitcoin Cash would be the first and the last for years to come. Why do forks occur? No one cares, just stopforking! Take your nerd fight elsewhere guys! Image credit: In all honesty, the average Bitcoin holder has very little empathy (and even less understanding), of the details of these splits. All we know is that disgruntled miners are once again splitting (what we view as) our beloved currency in order to form their own rogue chain of Bitcoin. So you can imagine that another major fork to take place within a month, we were beginning to get that dreadful feeling of dj vu. Not the exciting, nostalgic kind, but rather the nauseatingly familiar form, similar to how you feel when you step into a building that reminds you of an old job they never really took a liking Continue reading >>

Forkgen Makes It Easy(ish) To Create Your Own Bitcoin Fork

Forkgen Makes It Easy(ish) To Create Your Own Bitcoin Fork

Forkgen makes it easy(ish) to create your own Bitcoin fork In the here-today-gone-tomorrow world of altcoins, why not join the fray yourself? Forkgen gives you the option to create a fork of Bitcoin , like Bitcoin Cash , or to create a new altcoin out of thin air. Because in a world of shitcoins, whats one more? Born of a desire to allow innovation to break free of the central planning stranglehold, Forkgen aims to ease the barrier to entry for those seeking to create their own fork on the Bitcoin blockchain. Most of the technical work is done behind the scenes, but youll need advanced knowledge in the Bitcoin Core software. For beginners, this probably isnt the solution youre looking for. Also, for beginners, what the hell are you doing trying to create your own fork in the first place? Youll need to know how to compile the source, as well as troubleshoot it once you inevitably screw something up. And the creator makes no guarantees as to the level of support he or she is willing to offer aside from getting you set up in the event the automated build fails after youve made payment (0.0100 BTC). As the website says, this is interactive performance art. It makes no guarantees about its own code, or Bitcoin Core software. Approach with caution. Continue reading >>

What Will Happen At The Time Of The Bitcoin Hard Fork?

What Will Happen At The Time Of The Bitcoin Hard Fork?

What Will Happen At The Time Of The Bitcoin Hard Fork? These are the show notes for the Unchained podcast , availableon Google Play , iTunes , iHeartRadio , Stitcher or TuneIn Radio , and sponsored by OnRamp . The so-called hard fork, which has the potential to create two blockchains, each with its own set of coins, brings to a head a three-year-long battle between two factions whove been warring over a seemingly technical question over how to increase the amount of transactions the blockchain can process per second. Whether or not that divorce becomes permanent or not is the $100 billion question. The two sides have been duking it out on Twitter, Slack channels and email lists, and though certain indicators look bad for each one, neither bloc is backing down . I dont think it will cause havoc at all, said Mike Belshe, one of the developers working on the new fork of Bitcoin, on the latest episode of my podcast, Unchained ( Google Play , iTunes , iHeartRadio , Stitcher or TuneIn Radio ). In the episode, representing those against the so-called SegWit2x hard fork, which should split off on or around November 16 , is Bitcoin protocol developer Matt Corallo. He disagreed with the process by which the decision to hard fork was made: There is no discussion. As Mike said, this New York agreement [to do the SegWit2x hard fork] was pretty much a declaration. It said this change is happening. This is fundamentally incompatible with the process that is Bitcoin core. Mike Belshe, CEO of BitGo and Bitcoin SegWit2x developers, and Matt Corallo, Bitcoin protocol developer Plus, some exchanges are offering so-called chain split tokens, which function as futures markets, and those indicate the vast majority of community support is against the hard fork as well. Across multiple exchang Continue reading >>

Guide To Forks: Everything You Need To Know About Forks, Hard Fork And Soft Fork

Guide To Forks: Everything You Need To Know About Forks, Hard Fork And Soft Fork

Guide to Forks: Everything You Need to Know About Forks, Hard Fork and Soft Fork Lets fork it up By Aziz, Founder of Master the Crypto No responses This is a guide to forks that will explain the most common questions: What is a fork, hard fork and soft fork? Why does it happen? How important is it? Forks are a common phenomenon in computing software and represent a technical term that escapes the understanding of many. In order to have a clear understanding of forks, we have to look at Bitcoin and its technology, as its creation spearheaded the cryptocurrency ecosystem. Bitcoin is a decentralized peer-to-peer payment network and currency. The underlying mechanism of Bitcoin is its software protocol, which constitutes a bunch of computing codes that serve as predefined rules for the network. One thing important to understand is that Bitcoins software is open sourced, whereby the underlying computing codes is free and available for anyone to view, inspect and use. (Read also: Guide to Common Crypto Terms ) The blockchain the technology underlying Bitcoin is a distributed ledger made up of blocks of data that is continuously growing, forming a single chain of blocks (hence block-chain). Since Bitcoin is a decentralized network, participants in the network need to agree on a common set of rules to validate the transactions, in order to achieve consensus. This, therefore, results in a single chain of verified data that everyone agrees is correct, or a single truth. (See also: Coins, Tokens & Altcoins: Whats the Difference? ) A fork occurs when the single blockchain splits into two, either due to: As Bitcoin is a distributed and decentralized network, a fork occurs when miners discover a block at the same time, resulting in two split chains. However, this is a temporary fork Continue reading >>

Bitcoin May Split 50 Times In 2018 As Forking Craze Mounts

Bitcoin May Split 50 Times In 2018 As Forking Craze Mounts

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin May Split 50 Times in 2018 as Forking Craze Mounts Bitcoin forks are often easier than initial coin offerings I feel like bitcoin forks are kind of the new alt coin BitBull Capital CEO Joe DiPasquale discusses Bitcoins plunge and global regulation of cryptocurrencies. Bitcoin God arrived last month. Bitcoin Pizza was delivered in January. Bitcoin Privates issuance date is... still a secret. Theyre just a few of the growing stable of so-called forks -- a type of spinoff in which developers clone Bitcoins software, release it with a new name, a new coin and possibly a few new features. Often, the idea is to capitalize on the publics familiarity with Bitcoin to make some serious money, at least virtually. Some 19 Bitcoin forks came out last year -- but up to 50 more could happen this year, according to Lex Sokolin , global director of fintech strategy at Autonomous Research. Ultimately, the number could run even higher now that Forkgen , a site enabling anyone with rudimentary programming skills to launch a clone, is in operation. In a Jan. 14 tweet , hedge fund manager Ari Paul predicted more than 10 percent of the current value of Bitcoin and Bitcoin Cash will reside in new offshoots. Motives behind the efforts vary. Some backers try to improve on Bitcoin. Continue reading >>

Development - How To Fork Bitcoin And Build Own Cryptocurrency - Bitcoin Stack Exchange

Development - How To Fork Bitcoin And Build Own Cryptocurrency - Bitcoin Stack Exchange

How to fork Bitcoin and build own cryptocurrency Fork or totally new chain? user5107 Dec 24 '13 at 7:23 I want new chain, start mining from scratch and different rules (I want more than 21.000.000 coins) Michal Dec 24 '13 at 7:24 To start a new chain, use a genesis generator , apply the new genesis to the source , and remove the checkpoints . If you want to apply new/different rules, be prepared for a difficult task. Changing even the slightest protocol rule will most likely affect all other rules because of the complexity of PoW. If the only thing you want to alter is the maximum coins, this should be relatively easy to alter in the source . Continue reading >>

With Forkgen, Anyone Can Now Create Their Own Bitcoin Fork (even Us)

With Forkgen, Anyone Can Now Create Their Own Bitcoin Fork (even Us)

With Forkgen, Anyone Can Now Create Their Own Bitcoin Fork (Even Us) Forkcoins," or Initial Fork Offerings alternative coins that split off from Bitcoin are all the rage right now. The latest trend in the cryptocurrency world was kicked off last summer with the launch of Bitcoin Cash . The Bitcoin offshoot is a top 3 cryptocurrency by market cap according to websites like Coinmarketcap . Perhaps even more importantly, it is now offered by some of the worlds biggest Bitcoin exchanges and wallet providers, including Coinbase, Bitstamp and Blockchain. The second Bitcoin offshoot, Bitcoin Gold , also claimed a top 10 cryptocurrency spot seemingly out of nothing. Perhaps unsurprisingly, therefore, a series of new forkcoins has been announced over the past couple of weeks, ranging from Bitcoin Diamond to Lightning Bitcoin to United Bitcoin and many more. Since this week, anyone can easily create their own forkcoin with the click of a few buttons. Forkgen lets users tweak Bitcoins parameters and other properties to fork into a unique Bitcoin offshoot by simply filling them in on a user-friendly website. The service is created by a pseudonymous developer who simply goes by the name One, who is assisted by "Two," Forkgens "social media intern. Two told Bitcoin Magazine that the service intends to democratize the creation of Bitcoin forks. Even leading developers have shown it is too hard to create forks of the Bitcoin blockchain without making critical errors, Two said, referring to the recent failed SegWit2x launch. Forkgen creates a level playing field where anyone can easily create working forks. Then it reduces to a much simpler problem of marketing your new altcoin. More people are good at that part. To test the service, Bitcoin Magazine decided to create our own Initial F Continue reading >>

Bitcoin [insert Name]: You Can Now Fork Your Very Own Bitcoin

Bitcoin [insert Name]: You Can Now Fork Your Very Own Bitcoin

Users can now create a Bitcoin fork for less than $100 as Blockstream CEO Adam Back forecasts a huge fork explosion for 2018. Fork For Bitcoin Market Dominance, Suggests Back In comments on Twitter Tuesday, Back speculated on the likelihood of a plethora of Bitcoin hard forks diverting investor attention away from altcoins, potentially increasing Bitcoins market share. The forecast comes as Bitcoins hold on the market fell dramatically this week after Bitcoin Cash controversially surged in value and altcoins saw massive price gains. From a high of over 67% earlier this month, Bitcoin is now at just 44% of the total market cap, which has itself reached unprecedented highs of almost $650 billion. [M]an 2018 is going to be a huge fork explosion. [I]f it sucks money out of alts and then onwards to Bitcoin maybe well get back to 75% Bitcoin dominance on the way to 95%, Back wrote. man 2018 is going to be a huge fork explosion. if it sucks money out of alts and then onwards to Bitcoin maybe we'll get back to 75% Bitcoin dominance on the way to 95%. The sudden popularity of Bitcoin hard forks in December has seen variations of an increasingly unlikely nature , including so-called Super Bitcoin, Bitcoin Uranium and even Bitcoin God, due for release December 25. The phenomenon, which coincided with the previously fervent ICO market cooling somewhat, looks set to increase in the near future, due in part to the relative ease with which anyone can now fork the Bitcoin network. A company calling itself ForkGen Tech appears to be leading the trend, releasing what it describes as a point-and-click easy tool for creating a Bitcoin hard fork, costing as little as $90. Capitalizing on the price successes of Bitcoin Cash (BCash), developers are even offering discounts using the code roge Continue reading >>

What Is Forking And How Does It Impact Cryptocurrencies Such As Bitcoin

What Is Forking And How Does It Impact Cryptocurrencies Such As Bitcoin

Karnataka elections: Rahul Dravid to be state election icon In the world of cryptocurrencies, especially bitcoin, you will often hear the word forking. So far in bitcoin, two major forks have taken place, which have led to the birth of two cryptocurrenciesbitcoin cash and bitcoin gold. Yet another forking is expected next week. Lets try to understand forking and its impact. Forking happens because a set of miners, who create bitcoin, believe that there are more efficient options than the existing bitcoin. Forking implies a splitting of the chain on which bitcoin runs; making it go in a different directionwith different rules than the existing blockchain as the two would now have different visions of bitcoin. For example, bitcoin cash changed the block size, which means that blocks can be greater than 8 MB while bitcoin continues with 1 MB blocks. When the miners disagree with the existing rules of bitcoin, the blockchain forks or splits into two different blockchains which have different rules, said Sumanth Neppalli, cryptocurrency and blockchain analyst, Zebpay. There are two kinds of forking. Hard fork is a permanent divergence in blockchain. If a bitcoin hard fork happens, then it is possible that the older bitcoin blockchain will be scrapped in place of the upgraded one. This means that all nodesof miners, merchants and users will need to upgrade to the new nodes to be able to validate the new blocks. This is necessary as non-upgraded nodes will reject blocks created by upgraded nodes, said Benson Samuel, chief technology officer and co-founder, Coinsecure. In case of soft fork, there are only protocol changes and bitcoin continues to work on the original blockchain rules. According to Samuel, to date the following coins have or will soon emerge after software clie Continue reading >>

Bitcoin Fork Explained - Business Insider

Bitcoin Fork Explained - Business Insider

Bitcoin split in two in August when the digital currency officially forked creating Bitcoin Cash . Bitcoin gold was created when bitcoin forked again in October. And now the SegWit2xfork is looming. Meanwhile, bitcoin continues to hit new record highs . We asked Nolan Bauerle, the director of research at CoinDesk , to come in to help explain what exactly happens when a cryptocurrency splits and whether it undermines the strength of the coin.Following is a transcript of the video. Nolan Bauerle:I am Nolan Bauerle, the director of research at CoinDesk and here's what a bitcoin fork actually is. Sara Silverstein: So you're here to help me understand what exactly a bitcoin fork is. Bauerle: So to think of these blockchains in a very simple way we can see them as cryptographic keys that move memory. The rules by which the memory is moved are set by the miners themselves. So you've got miners that understand the rules and when you wanna change those rules you need to fork it. All the miners need to agree about the new rules about what is a valid block in the chain. Silverstein:It's just the majority of the miners that need to agree, right? Bauerle: Well, then you can have a fork where a certain minority believe that the truth and valid blocks are different and that's where you get into this area of forks which we saw this summer where you had a group of miners decide that different rules should apply to a valid transaction. So that persists as a different blockchain. Silverstein:So let's say all the chains have the same history and then there's two separate chains that have moved forward and both are valid? Bauerle: Both are valid according to the miners working those chains.So those miners in Bitcoin Cash from the summer decided that blocks should be much bigger, that every Continue reading >>

Bitcoin Forking Could Result In 50 New Splits In 2018 | Fortune

Bitcoin Forking Could Result In 50 New Splits In 2018 | Fortune

Bitcoin God arrived last month. Bitcoin Pizza was delivered in January. Bitcoin Privates issuance date is still a secret. Theyre just a few of the growing stable of so-called forks a type of spinoff in which developers clone Bitcoins software, release it with a new name, a new coin and possibly a few new features. Often, the idea is to capitalize on the publics familiarity with Bitcoin to make some serious money, at least virtually. Some 19 Bitcoin forks came out last year but up to 50 more could happen this year, according to Lex Sokolin, global director of fintech strategy at Autonomous Research. Ultimately, the number could run even higher now that Forkgen, a site enabling anyone with rudimentary programming skills to launch a clone, is in operation. In a Jan. 14 tweet, hedge fund manager Ari Paul predicted more than 10 percent of the current value of Bitcoin and Bitcoin Cash will reside in new offshoots. Motives behind the efforts vary. Some backers try to improve on Bitcoin. Others seek a quick profit. Developers typically score a cache of newly minted coins in a process called post-mining. Yet prices dont necessarily hold up for long. Unfortunately, most fork-based projects we see today are more of a sheer money grab, said George Kimionis, chief executive officer of Coinomi, a wallet that lets Bitcoin owners collect their new forked coins. Looking back a few years from now we might realize that they were just mutations fostered by investors blinded by numerical price increases rather than honest attempts to contribute to the blockchain ecosystem. He predicts forking may soon sideline a more popular alternative, initial coin offerings, in which startups raise money by selling entirely new tokens. That market has gotten crowded after raising about $3.7 billion last Continue reading >>

Bitcoin Gold Fork Coming: How To Double Your Bitcoins

Bitcoin Gold Fork Coming: How To Double Your Bitcoins

Bitcoin Gold Fork Coming: How To Double Your Bitcoins By: Sudhir Khatwani In: Bitcoin Last Updated: It has been only 9 weeks since the Bitcoin Cash hard fork, and we are again discussing another Bitcoin hard fork. For those of you who dont know about the previous Bitcoin hard forks and its challenges, read my earlierguides here: Bitcoin Fork Coming: How To Prepare For Replay Attacks (What are replay attacks?) And for those of you who arent aware of the upcoming Bitcoin hard fork, pay attention. In this article, I intend to cover everything you need to know about the upcoming Bitcoin hard fork and how to prepare and benefit from it by doubling you coin holdings. Some of you may think this is a good thing as your value will also double! Note:Doubling of coins does not mean doubling of value, because after a hard fork, the value of both versions of coins are determined based on user sentiments and demand/supply in the market. So keeping that point in mind, lets get started New: Where To Sell Bitcoin Gold (BTG) [Full list of BTG exchanges] Bitcoin Gold is a new, would be cryptocurrency denoted, as of now, as BTG or bgold. It will be a fork of the original Bitcoin that Satoshi Nakamoto invented in 2008. The Bitcoin Gold community defines BTG in the following fashion: Bitcoin Gold is a community-activated hard fork of Bitcoin to make mining decentralized again. At present, there is very little information available about the technical know-how of this fork because their website is under development. Who Is Doing This Fork And When Is It Happening? The Bitcoin Gold project is being driven by some developers, miners, and their headJack Liao, the CEO of the Hong Kong-based mining equipment manufacturing company, LightningAsic . Bitcoin Golds lead developer is someone anonymous Continue reading >>

A Simple Guide To What Bitcoin Forks Are And Why They Happen

A Simple Guide To What Bitcoin Forks Are And Why They Happen

A Simple Guide to What Bitcoin Forks Are and Why They Happen Right now people keep hearing about the pending fork scheduled for on or around November 16 . Because software forks and blockchain splits can be a confusing subject, we want to explain just what a fork is and what it means for all the network participants involved. Also read: Preparing for the Bitcoin Hard Forks: A Step-by-Step Walkthrough If you are just getting involved in cryptocurrencies, and youve done a little research, you might have read about the great scaling debate and the topic of bitcoin forks recently. Forks represent changes to the bitcoin protocol that make previous rules valid or invalid. Cryptocurrency forks are merely protocol upgrades, and there are two types of blockchain forks that bitcoin enthusiasts refer to: a soft fork and a hard fork. Both types of forks can be radical changes to the underlying protocol, but they have two key differences. A soft fork is a rule change that is backward compatible; which means the new rules can still be interoperable with the legacy protocol. In contrast to this method, a hard fork enables a rule change to the software, but it does not have backward compatibility. This means a hard fork is a permanent split from the legacy rule-set, or version, of the blockchain before the fork occurred. The bitcoin blockchain has forked several times over the course of the technologys existence. Bitcoin forked back in March of 2013 , and a few months later in August 2013 . Back then the ethereum creator, Vitalik Buterin, wrote a very vivid description of the March 2013 fork event, stating: Starting from block 225430, the blockchain literally split into two, with one half of the network adding blocks to one version of the chain, and the other half adding to the other, Continue reading >>

We Forked Bitcoin - Motherboard

We Forked Bitcoin - Motherboard

Bitcoin clones with some small differences, called forks, have popped up like a malfunctioning Whack-a-Mole machine recently: Bitcoin Cash, Bitcoin Gold , Bitcoin Diamond, Bitcoin Hot, Super Bitcoin, and it really does go on . Now, we at Motherboard are proud to present our own fork: Bitcoin Max Horsepower (BMH). Our stories about the Bitcoin Cash and (failed) Segwit2x forks last year explain why they're important changes to the cryptocurrency, but BMH shows thatat least from a technical perspectiveforking with minimal changes to Bitcoin's original code is easy, and in many cases what really matters is the people behind them. In BMH's case, it's one guy (me) sitting at a laptop. Yes, Bitcoin Max Horsepower has all the benefits of Bitcoin: its own blockchain, proof-of-work mining algorithm (set to minimum difficulty, by the way, so anyone with a decent graphics card can probably mine it), and even its own node software. As I write this, my own Bitcoin Max Horsepower client is syncing with the network. Bitcoin Max Horsepower is very real, but we wont be distributing any software or anything like that. Thats because it took me all of 10 minutes to create the fork, using a website called Forkgen that describes itself as interactive performance art in its terms of service. Forks once seemed like a far-off possibility for Bitcoin, but in 2017 the floodgates were opened after an unresolved community disagreement about code forced a split. The point of Forkgen, it seems, is to take the piss out of the first Bitcoin fork: Bitcoin Cash. Bitcoin Cash is a contentious fork that was created on August 1, 2017 , and continues to divide the Bitcoin community. Proponents argue it reflects the true vision of Bitcoins anonymous creator, Satoshi Nakamoto, while detractors call it a subpar Continue reading >>

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