What does coin fork distribution mean (Will the forked coin plummet)?

What does coin fork distribution mean? On Binance Smart Chain (BSC), transactions can convert all existing assets into new tokens. If a newly issued token is not upgraded, the old version of ERC20 token cannot be used because the token cannot be reactivated and needs to be implemented through other means.

Fork refers to the hard fork and merge of blockchain projects. In simple terms, it allows the project to complete the merger, code changes, rule modifications, and other actions on their own. Therefore, it forms a form called “forking”, which supports BNB, HT, and EOS in the two versions on Binance Smart Chain, both of which belong to the same type of token. Because there are differences between the two, it is also called coin-to-coin. (Bitcoinist)

Will the forked coin plummet?

Editor’s note: This article comes from the Wind and Fire Wheel community (ID: FHBT18), author: Peipei, authorized reprint of Odaily Star Daily.

Hello everyone! I’m Peipei. Today I’m going to share a picture of a coin called Fork:

This picture is a hardcore version from last June: the first version on Ethereum. In other words, there were rumors a few days ago that if a fork occurs, some tokens may be sold after one month. The price may be a bit high, but it still looks relatively low. But does it mean that the price will definitely rise if someone buys the coin? And recently, there have indeed been some small exchanges experiencing fork situations. Some exchanges may choose to fork using their own issued codes and change the name of the original blockchain to a new type of cryptocurrency on Ethereum.

In fact, this forking method can indeed avoid many problems. For example, many cottage projects are developed following the market, but there are also many immature areas that have led to differences between these branches. So here we give you two examples:

The first one is Bitcoin Cash’s hard fork.

The second one was developed in 2016. At that time, Bitcoin Cash was not particularly popular, it was still in its early stages. Of course, after several discussions, it was found that there were various reasons after the fork. One of the reasons may be that the timing of the fork was different (probably advanced to early May of this year).

The third controversy about the fork is mainly about this event. Ethereum’s founder Vitalik Buterin proposed an idea-to improve Ethereum Classic’s code as one of the core technologies and introduce a new consensus mechanism-PoW, which will make the network more efficient.

Therefore, for most people, forking is not the easiest problem, after all, it is a protocol upgrade process. There are also some other things to consider, such as splitting and merging, which are considered “soft forks”.

In short, no matter what the differences are, there will always be differences in the end. However, no matter what factors affect, the impact will be obvious. Before the fork, we still need to wait for more than a year to see such results.

Will this and that happen next? I don’t think it will happen so soon. Because of the current situation, I think there is nothing to be embarrassed about, especially for small market cap public chains like EOS and TRON, they basically have no room for much change, and they will be eliminated over time.

As for whether it can run faster in the future, it depends on the team’s follow-up planning for the project and future development direction, and then decide whether to make corresponding changes and adjustments.