When bitcoin came into the market in 2009, we saw Satoshi mining the first block using the technology Blokchcian 2. It has come as a reference like a genesis block. It has even showcased the counting of crypto in the market, and we all know about it. Satoshi was seen making several changes in the BTC network, and it helped in giving up the process right. Also, we have seen a growth of a good user base growing at a considerable margin. It has become a tough choice for the user base of BTC, which has grown in a big way in recent times. No one in the group can help find out how Bitcoin will come up with a good upgrade, and the process for the updating system remains too complex. We see Genesis Block also talking about a few hard forks in the coming years. Check out why the world can’t stop talking about bitcoin if you want to start bitcoin trading.
BTC hard and soft forks
We have heard a lot about the Hard Fork, but we also know there is a soft fork. Apart from having the hard forks, cryptos like BTC are not undergoing a Soft Fork in the market. We need to understand the way the two differ. The soft fork does not offer you a new currency, and at the same time, there is no change taking place in the Bitcoin protocol. However, the end products remain the same. A soft fork is known for the backward compatible options. As the hard fork grows, we can see the software is now implementing BTC with the mining process, and it is upgraded the moment the user upgrades come into the market. The software reacts to the version that helps in rejecting all the transactions coming via any older software program. In this way, you can find a new branch of the technology of Blockchain coming into existence. All the users who want to pursue the transaction process feel the parallel set of transactions that offer two different types of chains.
Bitcoin hard fork – Timeline
We hear about Bitcoin XT, which remains the first hard fork for the currency. The app came on the market in 2014, and it has several other features that have proposed things go smoothly. An earlier version of BTC has helped many more transactions occur per second. We can see the coin now aiming for around 24 transactions every second. If you want to achieve it, it is proposed to boost the value. The earlier version of BTC only allowed seven transactions every second, and BTC XT has an extended story. However, to achieve 24 trades, you should now the block zie coming from megabyte to eight MG. The earlier version of BTC has helped carry out more than seven transactions per second, while BTC XT goes smoothly with 24 transactions in one second. It also enables secure success with around 1000 nodes running in any software later in 2015. However, in the next few months, the project secured the users’ interest, which helped keep the users. Bitcoin XT also can find out the original website that remains defunct.
When we saw Bitcoin XT decline, several community members still wanted block sizes to help increase the option. Also, in response to this idea, we have seen too many answers coming in this direction. One of these things includes the BTC Classic that came in early 2016. Unlike XT, which came to boost the block size up to 8 MB, we saw the classic boosting up the increase by MB 3. Like the BTC XT, we can see many more things like the BTC classic coming to extend the earlier interest with 2k nodes for many more months during 2016. We can also see the project coming along in the market, with the developers giving solid support with BTC Classic. Nevertheless, we see a more significant number of crypto communities coming along with the other options.
The next that came in 2016 was Bitcoin Unlimited. It went into the market like an enigma, and the project came with a code that helped carry out the fork gaining BU. In addition, it has given the best sources that allowed many more miners to declare the size of their blocks and nodes. All these came to 16 MB.