Crypto Trader & Consultants

1st Hard Fork of bitcoin is Bitcoin Cash(BCH). Coin splits of the digital currency Bitcoin are created intentionally via forks of the blockchain, sharing a transaction history with Bitcoin up to a certain time and date. Namecoin was the first fork of Bitcoin. The first hard fork of Bitcoin happened on August 1st 2017, resulting in the creation of Bitcoin Cash. Bitcoin Cash: Forked at Block 478558, 1 August 2017, for each Bitcoin (BTC), an owner got 1 Bitcoin Cash (BCH). It means if you had 1 btc in exchange site than you would get 1 BCH for free on same exchange where you had your bitcoins. The ratio was 1:1.

Definition of Hard Fork As it relates to blockchain technology, a hard fork (or sometimes hardfork) is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa), and as such requires all nodes or users to upgrade to the latest version of the protocol software. Put differently, a hard fork is a permanent divergence from the previous version of the blockchain , and nodes running previous versions will no longer be accepted by the newest version. This essentially creates a fork in the blockchain, one path which follows the new, upgraded blockchain, and one path which continues along the old path. Generally, after a short period of time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version.