Hard Fork in Cryptocurrencies
A hard fork in cryptocurrencies is the process of creating a new cryptocurrency that becomes a branch of an already existing cryptocurrency. The new cryptocurrency often has a different technology, a completely different price, and even a different team of developers.
Most often, after a hard fork is carried out, holders of the main currency are given the same amount of the new cryptocurrency as a bonus, but the ratio can be, for example, 1:10 or 10:1 if the number of coins of the new cryptocurrency is significantly larger or significantly smaller respectively. If you own any cryptocurrency, be sure to follow the news, especially news about hard forks, because in order to receive bonus coins of the new cryptocurrency it is often necessary for the main cryptocurrency to be stored in a wallet with the ability to export private keys, rather than on a cryptocurrency exchange.
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Cryptocurrency Terms and Definitions
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