Bitcoin has a variety of Blockchain forks that people use to invest. Here are the bitcoin hard forks and the details of how they were installed.
1. Bitcoin Cash (BCH)
Bitcoin Cash is a cryptocurrency derived from the original Bitcoin as a hard fork product in mid-2017. With this initiative, Blockchain and crypto are divided into two parts.
Everyone who owns a certain number of Bitcoins has the same amount of Bitcoin Cash. The difference is that in technology, the Bitcoin Cash chain allows blocks that are larger than Bitcoin, which helps you do more transactions per second.
The rising fees in the Bitcoin network led to the development and launch of Bitcoin Cash. Some members of the Bitcoin community, including Roger Keith Ver, were part of this project. It has a supply limit of 21,000,000 BCH. While Bitcoin was sold for $ 2700 in 2017, it started trading at $ 240.
2. Bitcoin Gold (BTG)
Bitcoin Gold is another hard fork. It is a decentralized, open-source currency that does not have a central bank for management, and transactions are handled through the Bitcoin Gold network.
It was developed in October 2017 by Bitcoin Gold Asin Yin with block height of 491407. In May 2018, Bitcoin Gold was attacked and approximately 388,000 BTG (estimated value $ 18 million) were stolen from various exchanges. At the time of the hard fork, each user received the same amount of Bitcoin Gold as in Bitcoin Cash (1 BTC = 1 BTG).
3. Bitcoin Diamond (BCD)
In 2017, Team 007 and named Bitcoin miners Team Evey, decided to make a few changes to the Bitcoin protocol to improve how things work. This led to the development of Bitcoin Diamond in November 2017.
The improvements they wanted to work on helped to encourage newer users to use Bitcoin and other cryptocurrencies, allowed faster time for transactions and lower fees for transactions. They believed that Bitcoin should be more accessible.
Bitcoin Diamond entered the market high and traded for a maximum of $ 91.47, but lost its appeal and fell to $ 2.44.
4. Bitcoin Core (BTX)
Originally launched by Satoshi Nakamoto as the node of the Bitcoin network, Bitcoin Core is the reference application for all other new and customized versions released. Also known as a Satoshi customer, it was previously released as Bitcoin, but was later renamed to avoid confusion between the original platform.
In 2014, Bitcoin Core was taken over by a team of carers led by Wladimir J. van der Laan . The MIT Digital Currency Initiative finances the development of Bitcoin Core. It includes a process validation engine that connects to the central network node. There is also a wallet by default that can help users send and receive Bitcoin.
Distribution was made as 0.5 BTX per 0.5: 1, ie 1 BTC ; this can be thought of as a loss for the person when the last transaction price drops.
5. Bitcoin GOD (GOD)
Launched on December 25, 2017, Bitcoin God, developed by Chandler Guo, a Chinese cryptocurrency investor, was another fork based on the Bitcoin coding chain and forked at a height of 501225 Blockchain.
Bitcoin God is a bitcoin network that offers a 1: 1 distribution of krypton. Unlimited is a non-profit peer-to-peer organization. There are many features like smart contracts, bigger block size, lightning-speed network, and a total of 21 million supplies.
6. Bitcoin Private (BTCP or ZCL)
Bitcoin Private, forked at a height of 511346 blocks, is a cryptocurrency that is the result of Bitcoin forking and simultaneous merging with ZClassic. This platform offers the best features of cryptocurrencies.
The main purpose of launching Bitcoin Private was to combine the privacy features of Z Classic with the popularity and flexibility of Bitcoin. The tokens were provided with an airdrop application and the user received a BTCP token for each BTC and ZCL medallion they had.
7. Bitcoin Atom (BCA)
Bitcoin Atom was launched in January 2018 at the blockchain height of 505888. It is a cryptocurrency that uses long-term contracts (HTLCs) and the HTLC API, which provides independence from central businesses and intermediaries.
The BCA works with lightning network swaps for instant off-chain atomic swaps. These processes are cheaper and more useful for smaller processes, and privacy features are better and improved than other versions.