What is a Bitcoin fork?
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A Bitcoin fork refers to the splitting of the Bitcoin blockchain into two separate paths, resulting in the creation of a new cryptocurrency alongside the original Bitcoin. This occurs when there is a change in the protocol or rules governing Bitcoin’s operation. The new cryptocurrency that emerges from the fork may have similar features to Bitcoin or introduce new functionalities. Forks can be classified as hard forks, which create a completely new blockchain, or soft forks, which maintain compatibility with the original blockchain.