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The next edition of Cointelegraph’s AMA series is set for November 9th with a project that is using Bitcoin technology to innovate in DeFi.
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Hard Fork News
During a hard fork, blockchain networks split into two different chains. A cryptocurrency hard fork results in two blockchains, in addition to two separate assets: the original and the forked asset. Cryptocurrency hard forks can be a benign, consensual upgrade spearheaded by the community, or the culmination of bitter debates that split a community into two separate chains and assets.
Multiple notable contentious hard forks have occurred over the years. In 2016, as the result of a hard fork, Ethereum (ETH) split in two, resulting in Ethereum and Ethereum Classic (ETC). And in 2017, due to another hard fork, Bitcoin (BTC) split into Bitcoin and Bitcoin Cash (BCH). Developers may cooperatively implement hard forks based on consensus from multiple parties. Communities may choose to hard fork cryptocurrency for a number of reasons, such as improving network speed.
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The upgrade is intended to fix the exploit that drained the platform of $100 million.
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PoW Ethereum or ETHW is a forked version of the Ethereum blockchain created by a Chinese miner after the Merge of the execution and consensus layers.
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ETHPoW's hash rate and total value locked have risen significantly during its latest bull run.
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Cardano’s Vasil hard fork seeks to enhance the platform’s transaction throughput speeds, DApp development capacity, security and general usability.
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Most Cardano hard forks have preceded ADA price crashes, and Vasil looks no different.
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Cardano’s newest hard fork is the blockchain’s most significant update since adding smart contract functionality last September.
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With the countdown now under 24 hours for Cardano’s most ambitious upgrade, all three metrics necessary to launch the awaited Vasil upgrade have been met.
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Nonetheless, ETHPoW is gaining adoption among top mining pools and crypto exchanges.
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Bybit officially announced that it launched ETHW trading against the USDT stablecoin, planning to soon open ETHW deposits and withdrawals.
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Together, ETHW mining pools already make up more mining capacity in terms of block share than Ethermine, which opted to shut down mining operations.
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The Ethereum proof-of-stake consensus mechanism will cut energy consumption by a massive 99.95% compared to the proof-of-work system.
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Forked coins have proven to be lucrative in the past. Holders of Ethereum came to possess an equivalent amount of Ethereum Classic when it forked in 2016.
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Offering two separate Ethereum ETPs after the hard fork would allow ETC Group to ensure the most transparent and fair approach, the founder said.
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The incredible LUNA rally took place amid a flurry of positive and negative events while technicals suggest a correction is coming.
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