What is a Bitcoin Fork?

Blockchain currencies are powered by miners, the people who perform  transaction verifications.  In order for a transaction to be verified,  the majority of the miners must agree that it follows the rules of the  blockchain.  If the majority of miners decide to create new rules for  the blockchain, they can branch off from the existing blockchain through  a fork. The fork then continues on independently from the rest of the  blockchain under its own rules.

Miners create Bitcoin forks to improve the capacity, efficiency, and  security of virtual currency transactions. Bitcoin Cash, one of the most  successful Bitcoin forks to date, now has a market value of about $20  billion. However, the second hard fork on the Bitcoin blockchain,  Bitcoin Gold, was not as well received. In the handful of weeks Bitcoin  Gold has been on the market, the new currency has been mired by  fraudulent activities and security threats, making purchasing the coin  even riskier that most cryptocurrency investments.

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