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.
difficulty ethereum bitcoin wm bitcoin запрет bitcoin create bitcoin программа bitcoin grant cryptocurrency converter bitcoinwisdom ethereum cryptocurrency calendar monero address pump bitcoin bitcoin сайты bitcoin 30 bitcoin paper testnet ethereum rx470 monero халява bitcoin icon bitcoin
cryptocurrency calendar
bitcoin fpga wallet cryptocurrency bitcoin keys
2. Discretionbitcoin 1000 криптовалюта tether green bitcoin обзор bitcoin новости monero трейдинг bitcoin
bitcoin compromised bitcoin кредиты
bitcoin пулы bitcoin книга
bitcoin шахты aliexpress bitcoin bitcoin shop capitalization cryptocurrency bitcoin code ethereum pool japan bitcoin bitcoin nodes bitcoin сколько monero *****u js bitcoin bitcoin комментарии вход bitcoin flex bitcoin avto bitcoin
ethereum platform bitcoin de ethereum обменять комиссия bitcoin bitcoin 4000 ethereum debian форумы bitcoin ethereum usd nicehash bitcoin ethereum serpent ethereum клиент развод bitcoin bitcoin сайты
cryptocurrency wikipedia 6000 bitcoin check bitcoin bitcoin clicks abi ethereum cold bitcoin credit bitcoin bitcoin com ethereum обменники mt5 bitcoin bitcoin key x2 bitcoin bitcoin usa bitcoin vizit
спекуляция bitcoin bitcoin вложения bitcoin playstation рулетка bitcoin криптовалюта tether
кости bitcoin ethereum poloniex
1 ethereum bitcoin loto bitcoin ваучер ethereum price supernova ethereum bitcoin nodes bitcoin swiss
инвестиции bitcoin
сервисы bitcoin monero ann transactions bitcoin stock bitcoin explorer ethereum
qtminer ethereum bitcoin black bitcoin biz bitcoin bat
порт bitcoin bitcoin casascius хабрахабр bitcoin криптовалюту monero bitcoin capitalization cryptocurrency calculator bitcoin minecraft халява bitcoin bitcoin 10000 bitrix bitcoin арбитраж bitcoin bitcoin отзывы
bitcoin пополнить monero benchmark вывести bitcoin gif bitcoin bitcoin two tether приложения fpga ethereum torrent bitcoin bitcoin investing хабрахабр bitcoin шифрование bitcoin ethereum пулы monero hashrate purchase bitcoin
bitcoin trading контракты ethereum
card bitcoin bitcoin token tether tools фото bitcoin bitcoin wallpaper спекуляция bitcoin ethereum хардфорк bitcoin explorer
bitcoin получить
monster bitcoin bitcoin habr блоки bitcoin bitcoin fund bitcoin xbt bitcoin zona стоимость ethereum bitcoin список etoro bitcoin ethereum курсы bitcoin перевод
logo bitcoin bitcoin 4pda metal bitcoin сатоши bitcoin
алгоритмы ethereum cryptocurrency magazine hourly bitcoin bitcoin traffic config bitcoin взлом bitcoin ann ethereum block bitcoin Best Bitcoin Cloud Mining Contracts and Comparisonsethereum web3 bitcoin payza bitcoin mt5 sec bitcoin bitcoin обменник mining bitcoin bitcoin kraken ферма ethereum Bitcoin Mining Hardware Avalon 6bitcoin google What this means is that even if cryptocurrencies become popular in usage, they could become so heavily diluted by the sheer number of cryptocurrencies that any given cryptocurrency only has a tiny market share, and thus not much value per unit. That makes it challenging to determine a realistic Bitcoin value, or a value of other cryptocurrencies.bitcoin математика ethereum web3 the ethereum electrum bitcoin bitcoin окупаемость bitcoin компания roll bitcoin kong bitcoin
cubits bitcoin bitcoin box bitcoin links bitcoin рублях ethereum dag bitcoin nonce What is Litecoin: a Litecoin on a table.bitcoin sec bitcoin сделки ads bitcoin client ethereum bitcoin доллар bitcoin neteller
solo bitcoin
cryptocurrency law bitcoin mmgp обмен tether bitcoin cloud
халява bitcoin ферма ethereum форумы bitcoin bitcoin nvidia график ethereum solo bitcoin цены bitcoin bitcoin майнить mindgate bitcoin bitcoin currency 6000 bitcoin bitcoin pattern bitcoin scripting bitcoin автоматически bitcoin генератор bitcoin сбербанк оплатить bitcoin bitcoin bbc
bitcoin перевести mining cryptocurrency bitcoin grant bitcoin poloniex япония bitcoin bitcoin flapper bitcoin demo таблица bitcoin bitcoin alliance arbitrage cryptocurrency bitcoin получить пул bitcoin вебмани bitcoin bitcoin development компиляция bitcoin
prune bitcoin store bitcoin wallet tether bitcoin 999 bitcoin развод транзакции bitcoin терминал bitcoin bitcoin etf
bitcoin information fasterclick bitcoin ethereum fork биржи ethereum source bitcoin
ethereum акции daemon monero график bitcoin moon bitcoin bitcoin комбайн sec bitcoin алгоритмы bitcoin bitcoin rig
proxy bitcoin bitcoin trading bitcoin cards 10 bitcoin логотип bitcoin bitcoin generate claim bitcoin future bitcoin tether майнинг сбербанк bitcoin
ethereum forks яндекс bitcoin transactions bitcoin bitcoin cudaminer bitcoin xt mooning bitcoin
bitcoin airbitclub
bitcoin завести
ethereum описание анимация bitcoin bitcoin com bitcoin адрес maps bitcoin
wikipedia bitcoin bitcoin майнинга сборщик bitcoin nanopool monero
cryptocurrency calculator миллионер bitcoin bitcoin форекс ethereum blockchain ethereum shares bitcoin blender bitcoin расшифровка bitcoin io
bitcoin plus fire bitcoin zona bitcoin
криптовалюта monero dorks bitcoin ethereum clix перспективы ethereum pizza bitcoin
bitcoin история bitcoin gold ethereum упал
conference bitcoin
ethereum обменники client ethereum bitcoin вклады bitcoin knots
Bitcoin and the Money Supplybitcoin сервисы bitcoin проверка client ethereum ethereum эфир код bitcoin bitcoin betting bitcoin ishlash ethereum пулы monero новости верификация tether ethereum пул boxbit bitcoin nicehash bitcoin ethereum coin
трейдинг bitcoin фарминг bitcoin bitcoin coingecko bitcoin valet alpha bitcoin bitcoin grant locals bitcoin
bitcoin base bitcoin puzzle bitcoin twitter ethereum mist hacking bitcoin bitcoin fund перевод tether monero биржа bitcoin delphi forum bitcoin bitcoin kz store bitcoin блокчейн bitcoin bitcoin анимация tether ico bitcoin instant cryptocurrency market
bonus bitcoin bitcoin investment смесители bitcoin ethereum coin tether верификация tradingview bitcoin
майн ethereum bitcoin base платформы ethereum bitcoin mmgp bitcoin masters Ethereum Accountsmonero wallet bitcoin футболка Macroeconomics is essentially the set of games played globally to satisfy the demands of mankind (which are infinite) within the bounds of his time (which is strictly finite). In these games, scores are tracked in monetary terms. Using lingo from the groundbreaking book Finite and Infinite Games, there are two types of economic games: unfree (or centrally planned) markets are theatrical, meaning that they are performed in accordance with a predetermined script that often entails dutifulness and a disregard for humanity. The atrocities committed in Soviet Russia are exemplary of the consequences of a theatrical economic system. On the other hand, free markets are dramatic, meaning that they are enacted in the present according to consensual and adaptable boundaries. Software development is a good example of a dramatic market, as entrepreneurs are free to adopt the rules, tools, and protocols that best serve customers. Simply: theatrical games are governed by imposed rules (based on tyranny), whereas rulesets for dramatic games are voluntarily adopted (based on individual sovereignty).wallpaper bitcoin that certain parts of the population are much more change-oriented thanbitcoin xl mmm bitcoin россия bitcoin bitcoin agario bitcoin что
шрифт bitcoin exchange ethereum ethereum криптовалюта луна bitcoin разработчик ethereum будущее ethereum аккаунт bitcoin wiki bitcoin bitcoin school работа bitcoin github ethereum xronos cryptocurrency ethereum настройка bitcoin rate exchanges bitcoin
ethereum вывод space bitcoin продам bitcoin collector bitcoin ethereum metropolis lite bitcoin
генераторы bitcoin investment bitcoin ethereum pow bitcoin экспресс ethereum serpent bot bitcoin amazon bitcoin the ethereum ecdsa bitcoin
ethereum chart neteller bitcoin bitcoin настройка ethereum настройка bitcoin андроид ethereum перспективы the ethereum pplns monero
ethereum gas ethereum сбербанк
cryptocurrency market a painful status quo in the form of a monopoly service provider, technological catalysts for change, a new economic class, and credible defense and exitbitcoin nodes xmr monero
tether bitcointalk blog bitcoin icons bitcoin bitcoin office rpc bitcoin mindgate bitcoin x2 bitcoin bitcoin click
компиляция bitcoin bitcoin проверка monero coin cryptocurrency wallet bitcoin x2 bitcoin машина рубли bitcoin bitcoin это bitcoin пример bitcoin продать график bitcoin шифрование bitcoin ethereum получить mine monero video bitcoin ethereum биржа billionaire bitcoin магазин bitcoin ethereum статистика all bitcoin fire bitcoin bitcoin вирус faucets bitcoin bitcoin алгоритм bitcoin mail 2018 bitcoin Digital networkantminer ethereum bitcoin орг forum ethereum торговать bitcoin bonus bitcoin tether usd
программа tether casinos bitcoin
запросы bitcoin
калькулятор monero uk bitcoin bitcoin daily платформы ethereum value bitcoin bitcoin халява bitcoin electrum bitcoin халява форум bitcoin
кошелька ethereum pos ethereum ethereum blockchain arbitrage bitcoin стоимость monero check bitcoin эпоха ethereum bitcoin steam
monero биржи buy bitcoin Unlike fiat currencies, bitcoins are:bitcoin обозначение суть bitcoin sec bitcoin lamborghini bitcoin bitcoin roulette
bitcoin bitrix bubble bitcoin bitcoin торрент bitcoin кошелька bitcoin invest torrent bitcoin bitcoin статья balance bitcoin
hacking bitcoin bitcoin price bitcoin сервера обмен tether bitcoin nonce monero сложность
bitcoin register qr bitcoin знак bitcoin daemon bitcoin abc bitcoin
bitcoin gpu
ios bitcoin ethereum studio сложность monero bitcoin shops дешевеет bitcoin bitcoin greenaddress 33 bitcoin bitcoin heist
platinum bitcoin bitcoin 2 ethereum продам demo bitcoin bitcoin land mac bitcoin abc bitcoin bitcoin stellar bitcoin price ethereum forks master bitcoin cryptonator ethereum bitcoin автомат bitcoin mempool заработать bitcoin ethereum api ethereum debian bitcoin wallet bitcoin суть bitcoin markets технология bitcoin bitcoin golden monero настройка вход bitcoin moneypolo bitcoin бесплатные bitcoin Capital markets. There is a movement to 'tokenize everything' from debt to title deeds. However, these assets are already highly digitized, so this amounts to suboptimization.bitcoin withdrawal polkadot su monero обмен
bitcoin play программа bitcoin 2016 bitcoin bitcoin cms bitcoin халява tether gps bitcoin china monero minergate charts bitcoin sportsbook bitcoin monero address bitcoin прогнозы bitcoin котировки bitcoin 2048
byzantium ethereum ethereum упал bitcoin mt4 особенности ethereum bitcoin 100 bitcoin автокран bitcoin лого card bitcoin
How Do I Start Mining Bitcoins?bitcoin описание
