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.
bitcoin registration аналоги bitcoin generator bitcoin bitcoin 999 total cryptocurrency магазин bitcoin click bitcoin блог bitcoin moon bitcoin эфир ethereum monero minergate block bitcoin coinmarketcap bitcoin ethereum alliance bitcoin virus monero обмен bitcoin россия запросы bitcoin ethereum com настройка monero bitcoin eu is bitcoin
перспективы bitcoin
avalon bitcoin shot bitcoin нода ethereum
bitcoin scripting blender bitcoin
coingecko ethereum world bitcoin смесители bitcoin удвоитель bitcoin капитализация ethereum bitcoin server bitcoin paper oil bitcoin
bitcoin fasttech bitcoin novosti bitcoin прогноз
masternode bitcoin bitcoin datadir bitcoin now moneybox bitcoin bitcoin symbol
продам bitcoin claymore monero epay bitcoin
bitcoin 123 bitcoin school bitcoin redex полевые bitcoin exchanges bitcoin factory bitcoin bitcoin sec bitcoin auto
курс bitcoin знак bitcoin bitcoin change создатель bitcoin bitcoin loans
bitcoin dark japan bitcoin ethereum проект bitcoin карты miner monero
проверка bitcoin bitcoin loan bitcoin xapo bitcoin crane скрипты bitcoin
time bitcoin mmm bitcoin planet bitcoin
bitcoin capitalization bitcoin talk bitcoin php android tether bitcoin freebitcoin cold bitcoin best bitcoin autobot bitcoin
обмен tether monero стоимость bitcoin download
Online exchanges that convert bitcoins into dollarsRecognize that every time a dollar is sold for bitcoin, the exact same number of dollars and bitcoin exist in the world. All that changes is the relative preference of holding one currency versus another. As the value of bitcoin rises, it is an indication that market participants increasingly prefer holding bitcoin over dollars. A higher price of bitcoin (in dollar terms) means more dollars must be sold to acquire an equivalent amount of bitcoin. In aggregate, it is an evaluation by the market of the relative strength of monetary properties. Price is the output. Monetary properties are the input. As individuals evaluate the monetary properties of bitcoin, the natural question becomes: which possesses more credible monetary properties? Bitcoin or the dollar? Well, what backs the dollar (or euro or yen, etc.) in the first place? When attempting to answer this question, the retort is most often that the dollar is backed by the government, the military (guys with guns), or taxes. However, the dollar is backed by none of these. Not the government, not the military and not taxes. Governments tax what is valuable; a good is not valuable because it is taxed. Similarly, militaries secure what is valuable, not the other way around. And a government cannot dictate the value of its currency; it can only dictate the supply of its currency.bitcoin crypto make bitcoin bitcoin миксер playstation bitcoin bitcoin neteller dash cryptocurrency ethereum chaindata bitcoin мониторинг доходность bitcoin ферма bitcoin bitcoin хардфорк ethereum miner bitcoin compare bitcoin продажа bitcoin greenaddress bitcoin ether ethereum картинки monero fee bitcoin расшифровка bitcoin обмена talk bitcoin криптовалюта ethereum Data is Moneybitcoin trojan Cryptojacking is when scammers use your computer or smartphone’s processing power to 'mine' cryptocurrency for their own benefit, and without your permission. Scammers can put malicious code onto your device simply by your visiting a website. Then they can help themselves to your device’s processor without you knowing.Ideal for beginner investorsbitcoin conference торги bitcoin bitcoin перевести bitcoin 50 ico monero bitcoin keywords продажа bitcoin monero ann
yota tether 1 ethereum ethereum бесплатно casino bitcoin home bitcoin bitcoin сбор платформа ethereum bitcoin коды почему bitcoin maps bitcoin new cryptocurrency auction bitcoin bitcoin genesis win bitcoin loan bitcoin bitcoin reserve bitcoin халява tether обменник майнер ethereum
ethereum org battle bitcoin 0 bitcoin
bitcoin кредит blocks bitcoin
bitcoin валюты autobot bitcoin bitcoin carding новости bitcoin
партнерка bitcoin bitcoin казахстан generation bitcoin time bitcoin bitcoin пожертвование bitcoin plus
hub bitcoin bitcoin лого bitcoin elena forum bitcoin ethereum faucet frog bitcoin
monero ann network bitcoin
bitcoin покупка abi ethereum ethereum mist
putin bitcoin planet bitcoin bitcoin япония talk bitcoin bitcoin passphrase
monero btc pay bitcoin bitcoin перевод p2pool monero bitcoin hyip win bitcoin monero hardware bitcoin uk usa bitcoin monero обмен transaction bitcoin bitcoin master bitcoin сеть usa bitcoin
source bitcoin bitcoin карты jax bitcoin bitcoin 100 bitcoin graph bitcoin now tether кошелек купить ethereum bitcoin обналичить bitcoin кошелька In contrast to Bitcoin, Ethereum nodes store more than just transaction details. The network needs to keep track of the 'state' – or the current information – of all of these applications, including each user’s balance, all the smart contract code, where it’s all stored, and any changes that are made.Very secureconvert bitcoin microsoft ethereum poloniex monero bitcoin зебра
bitcoin суть clame bitcoin bitcoin fx
обновление ethereum froggy bitcoin king bitcoin bitcoin магазин qr bitcoin bitcoin icons bitcoin etf bitcoin armory
bitcoin news
ethereum биржи криптовалют ethereum зарегистрироваться bitcoin monero btc bitcoin best bitcoin приват24 amazon bitcoin bitcoin electrum up bitcoin
monero продать bitcoin лохотрон ava bitcoin криптовалюта tether bitcoin motherboard bitcoin 100 bitcoin green ethereum падает flash bitcoin monero fork bitcoin zona взломать bitcoin bitcoin symbol rush bitcoin подтверждение bitcoin курс ethereum logo ethereum payoneer bitcoin keystore ethereum bitcoin blockstream bitcoin заработок telegram bitcoin keystore ethereum bitcoin nasdaq bitcoin jp bitcoin cz
bitcoin сигналы api bitcoin bitcoin оборот monero github bitcoin png nicehash bitcoin bitcoin blue monero обменять bitcoin займ 1070 ethereum алгоритм ethereum alpari bitcoin bitcoin india bitcoin algorithm wikipedia ethereum currency bitcoin майнинг monero 10000 bitcoin
ethereum пулы ads bitcoin bitcoin rate bitcoin history bitcoin payoneer bitcoin poloniex bitcoin community doubler bitcoin курса ethereum facebook bitcoin wmx bitcoin bitcoin antminer bitcoin pools bitcoin greenaddress iobit bitcoin майнер ethereum ethereum эфириум armory bitcoin darkcoin bitcoin ethereum russia bitcoin ваучер bitcoin bow bitcoin logo bitcoin система
рост bitcoin ethereum хардфорк bitcoin падает rx470 monero bitcoin cny bitcoin tracker topfan bitcoin multiply bitcoin bitcoin ферма nonce bitcoin bitcoin миллионеры мастернода ethereum bitcoin генератор ethereum клиент ethereum wikipedia
заработка bitcoin monero cpu loans bitcoin scrypt bitcoin 0 bitcoin bitcoin funding bitcoin сервера
bitcoin status обменять monero bitcoin qiwi bitcoin weekly is bitcoin gasLimit: the maximum amount of gas that the sender is willing to pay for executing this transaction. This amount is set and paid upfront, before any computation is done.bitcoin neteller accelerator bitcoin bitcoin вывод bitcoin signals стратегия bitcoin сделки bitcoin
abi ethereum tether 2 bitcoin комбайн bitcoin freebitcoin bitcoin падение seed bitcoin ethereum usd byzantium ethereum ethereum 4pda майнить monero bitcoin trojan faucet bitcoin ethereum android добыча bitcoin alpari bitcoin server bitcoin word bitcoin bitcoin ledger time bitcoin bitcoin play But how much do you really know about them? Considering just how many questions I've received out of the blue from the aforementioned group of people over the last month, the answer is probably, 'not a lot.'From the beginning, it was open-source, meaning everyone can see its code. Bitcoin holds the record for the highest cryptocurrency price ever recorded, at just under $20k. Since that crazy time, the price has dropped. It’s around $8.9k at the time of writing.2016 bitcoin best bitcoin кошелька ethereum If high performance, millisecond transactions are what is required, then it’s best to stick with a traditional-model centralized system. Blockchains as databases are slow and there is a cost to storing the data – the processing (or ‘mining’) of every block in a chain. Centralized data systems based on the client-server model are faster and less expensive… for now.bitcoin loan 'a change in protocol' orethereum os динамика ethereum Complexityclick bitcoin bitcoin часы краны monero capitalization cryptocurrency магазин bitcoin
ethereum видеокарты apple bitcoin bitcoin ubuntu The smallest unit is a wei and there are 1,000,000,000,000,000,000 of them per ETH. There are also some other intermediate names: Finney, Szabo, Shannon, Babbage, Ada – all named after people who made significant contributions to fields related to cryptocurrencies or networks.продам ethereum ethereum poloniex ico monero краны monero bitcoin grant рубли bitcoin bitcoin payoneer ethereum forum андроид bitcoin продам bitcoin обмен tether Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.gek monero ethereum github bitcoin зарегистрироваться mercado bitcoin bitcoin 100 bitcoin часы ethereum доллар ethereum coins bitcoin clicks trading bitcoin bitcoin мошенничество
bitcoin сбор best bitcoin bitcoin fee
bitcoin etherium So then it follows that if gold and silver are not perfect money (though admittedly the best we’ve had), perhaps mankind could discover or invent something that was even better. This is the Bitcoin experiment — the question of whether Bitcoin, with its specific attributes, is an even better form of money than what the marketplace currently enjoys (or in the case of state fiat, is forced to use). If the Austrians are right, and a marketplace tends to chose the medium of exchange which best works as money, and Bitcoin’s specific attributes make it excellent money, then perhaps the marketplace will, over time, increasingly use it for such.uk bitcoin
ethereum заработать half bitcoin рулетка bitcoin bitcoin автор bitcoin synchronization bitcoin click de bitcoin
bitcoin map cryptocurrency это bank cryptocurrency 999 bitcoin
обменник bitcoin bitcoin registration 4pda tether bitcoin установка bitcoin видеокарты
See All Coupons of Best Walletsforum cryptocurrency bitcoin информация android tether monero вывод bitcoin forum koshelek bitcoin брокеры bitcoin autobot bitcoin ethereum bitcoin сколько bitcoin putin
обменники ethereum 0 bitcoin bitcoin earning zone bitcoin ethereum упал bitcoin bio
деньги bitcoin bitcoin eu bitcoin luxury bitcoin buying bitcoin course fpga ethereum nicehash monero
отзывы ethereum bitcoin multiplier bitcoin курс
roboforex bitcoin
ethereum news bitcoin hyip bitcoin cranes transaction bitcoin bitcoin cost bitcoin qiwi bitcoin com
22 bitcoin bitcoin магазин avatrade bitcoin cold bitcoin ann monero bitcoin сборщик crococoin bitcoin ethereum contracts bitcoin doubler заработок ethereum fields bitcoin sun bitcoin bitcoin elena etf bitcoin bitcoin history bitcoin airbitclub bitcoin lite client ethereum исходники bitcoin bitcoin foundation bitcoin prices
bitcoin fan алгоритмы bitcoin bitcoin auction bitcoin knots bitcoin майнинга
bitcoin selling logo ethereum bitcoin reindex bitcoin pump bitcoin футболка bitcoin currency bitcoin trader bitcoin blog bitcoin script
genesis bitcoin bitcoin prices bittorrent bitcoin bitcoin чат bitcoin вконтакте bitcoin заработать bitcoin конверт yota tether bitcoin виджет cryptocurrency market 2x bitcoin bitcoin продам ethereum вики bitcoin puzzle
boom bitcoin пулы ethereum bitcoin cz знак bitcoin bitcoin brokers
bitcoin talk 60 bitcoin история bitcoin monero algorithm bitcoin рейтинг bitcoin ne ann ethereum bitcoin china widget bitcoin bitcoin green bitcoin news registration bitcoin ethereum debian
ethereum адрес
to bitcoin bitcoin москва
технология bitcoin monero продать контракты ethereum secp256k1 ethereum hit bitcoin scrypt bitcoin tether скачать bitcoin зарегистрировать ethereum stratum ethereum farm bitcoin окупаемость форк bitcoin fast bitcoin что bitcoin видеокарты ethereum mixer bitcoin bitcoin обозреватель flappy bitcoin майнер bitcoin ethereum курсы bitcoin прогнозы wallpaper bitcoin bitcoin окупаемость лотерея bitcoin
x2 bitcoin bitcoin коды основатель ethereum проблемы bitcoin bitcoin portable frontier ethereum
сбербанк bitcoin bitcoin сайты bitcoin hunter ethereum 1070 hd7850 monero bitcoin conveyor Almost every application that you have ever used will operate on a centralized server (such as Facebook, Instagram, and Twitter, etc.). This means that are putting your trust into a third-party company to protect your personal information from hackers.ethereum википедия bitcoin мерчант bitcoin flapper india bitcoin reddit bitcoin 