What The Fork
If you thought Bitcoin Cash, Bitcoin gold and Bitcoin Diamond were excessive, we've got a surprise for you: Bitcoin has 6 forks lined up going into the new year. That's right-six shiny new mints bearing Bitcoin's name. Bitcoin Platinum, Lightning Bitcoin, Bitcoin God (no joke) Bitcoin Uranium, Bitcoin Cash Plus, and Bitcoin Silver are slated to launch throughout the Christmas and New Year holidays. These will double the number of forked currencies within the month, leaving the market with 8 total Bitcoin derivatives to choose from. For those that don't know, a hard fork is a method for developers to update and alter Bitcoin's software. Once Bitcoin reaches a certain block height, miners switch from Bitcoin's core software to the fork's version. After this split, miners begin mining the new currency's blocks, creating a new chain entirely and a currency to go with it. Bitcoin Cash was the first hard fork to occur on Bitcoin's blockchain, followed by Bitcoin Gold and Bitcoin Diamond. As you can probably imagine, hard forks have become a hot topic within the crypto community. Many believe that they are necessary for improving the network and solving Bitcoin's scalability issue, as with Bitcoin Cash. Others have criticized them as money making schemes, as anyone holding Bitcoin at the time of a fork receives an equal share of the new currency. Whether you love 'em or hate 'em, it's important to understand what each fork is and what it wants to accomplish, and given the number coming up, there's a lot of information to digest. That's why we compiled info on each fork into these manageable chunks, to make that research a bit easier to swallow. Time to dig in.