What is Fork Currency Candy (Fork Currency)
What is Fork Currency Candy? What is Fork Currency Candy?Why do we need to fork
What is Fork Currency Candy? What is Fork Currency Candy?
Why do we need to fork?
Because before a hard fork, two core projects need to be redesigned. One is the original Bitcoin and Ethereum, and the other is EOS and XRP. These new branches will exist as a new code name “DASH” and generate rewards for participants through mining. Without the support of a new team, it will be impossible to obtain new DApps or may cause the phenomenon of the existing blockchain network no longer existing. (Note: Currently, EOS mainnet has launched four versions)
Fork Currency
Editor’s note: This article is from Color Cloud Blockchain (ID: cybtc_com), authorized to be reprinted by Odaily Planet Daily.
Fork currency refers to the hard forks of Bitcoin and Ethereum.
In the past few years, Bitcoin has seen some new versions of digital currencies as well as other interesting functional cryptographic assets, such as Ethereum, EOS, XRP, etc. They all have different characteristics. For example, ETH2.0 is planned to be launched later this year, and XTZ will choose a new token based on market conditions and adjust incentives through its native tokens, which is highly related to the current BTC price trend.
But this kind of splitting did not become a hot topic as before, and it may even cause a craze about “who is the next generation of Bitcoin”. Instead, it will allow fork currencies to gain more liquidity and a larger market share.
If the market during the bull market in 2017 was “dogs trimming leeks”, then the current situation may be the “rat warehouse” era. However, recent events have shown a phenomenon that fork currencies may be seen as a game place or value storage method for speculators, that is, the so-called “stable coins”.
When Bitcoin reaches its historical high, various fork currencies will appear. The first one is Ethereum, followed by a crypto project called EOS. Its founder is Vitalik Buterin. He has stated that Ethereum’s success can be attributed to the speed of Ethereum’s network development and the development status of its ecosystem. “I think this is a great thing… but I don’t oppose the word ‘fork’.”
Although the trading volume of Bitcoin is still high and most people are using it, the services provided by these exchanges are very limited. For example, Coinbase’s orders are limited to large institutional clients; there are about 1 billion transactions on Bitfinex.
However, after the third quarter of 2019, the price of Bitcoin began to fall sharply. At that time, the daily trading volume of Ethereum dropped to about $3,000. Subsequently, in the third week of the end of 2019, the price of Bitcoin skyrocketed again to nearly $20,000.
Although many crypto users seem to be losing their excitement for DeFi, many members of the crypto community still decide not to participate in DeFi projects. This includes Brian Armstrong, the CTO of Coinbase, who has publicly criticized the Ethereum protocol: “Do you know why? Is it because they haven’t seriously considered how to improve the Ethereum protocol?”
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