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Review on Bitcoin Diamond by Shirley Brugger
These are major changes that affect how the network processes new transactions…
These are major changes that affect how the network processes new transactions. The systems that upgrade will become a new cryptocurrency. The ones that don’t will continue operating with the old protocol. This means that there are now two different cryptocurrencies. I’ll use an example to make things clearer;Imagine ten cars driving down a road. One car decides to turn right. Four of the other cars think that’s a great idea so they turn right as well. The remaining five cars think turning right is a bad idea, so they keep going straight on. Instead of one group of cars going in a single direction, you now have two groups going in separate directions!
Pros
- The most famous Bitcoin hard fork is probably Bitcoin Cash (BCH) but plenty of others have followed it on to the market. There’s Bitcoin Platinum, Bitcoin Atom, Super Bitcoin and even a Bitcoin GOD! Some people are calling 2018, “The Year of the Fork.” So, now is a great time to start learning about them!
Cons
- Sometimes changes are made to the protocol. Cryptocurrencies have no central leader or management so changes to protocol are made by the cryptocurrency’s community. These are the users who support the network and carry out important tasks on it.
