To start with: What is Bitcoin fork? The fork is a cryptocurrency with some changes in the current Bitcoin protocol (BTC) and a change in its rules. Imagine you play one game and want to change its rules.
What are the two biggest Bitcoin hard Forks?
The two biggest Bitcoin hard forks are Bitcoin Cash and Bitcoin Gold, although there are others as well. Bitcoin Cash is a hard fork of Bitcoin that occurred on August 1, 2017. It was designed to overcome the problems that Bitcoin was experiencing with delayed transactions and lag.
What is a hard fork in cryptocurrency?
Intended hard forks splitting the cryptocurrency. Hard forks splitting bitcoin (aka "split coins") are created via changes of the blockchain rules and sharing a transaction history with bitcoin up to a certain time and date. The first hard fork splitting bitcoin happened on 1 August 2017, resulting in the creation of Bitcoin Cash.
Who decides the fate of Bitcoin and its forks?
The free market or laissez-faire coupled with technical merit and a vast network affect will decide the fate of bitcoin, its forks, and altcoins as well. The bottom line is forks can be confusing, and you have to investigate the reasons for why they are taking place.
