11.[SPECILIZED KNOWLEDGE] What is a blockchain fork?

Essentially, a blockchain fork is a collective agreement upon software update. Since there is no central authority to upgrade the decentralized protocol, the entire Bitcoin community needs to collectively approve it. If there are any disagreements, a fork will occur. Depending on the compatibility with the existing blockchain, a fork can be classified as a [...]

12.[SPECILIZED KNOWLEDGE] Bitcoin giving birth

There are many proposed scaling solutions from the Bitcoin Community. If any solution receives enough hash rate support it will be activated, and the Bitcoin network avoids a fork. However, Bitcoin has no central authority, making it hard to reach a consensus. Without enough hash rate support, a blockchain fork occurs, giving rise to a [...]

13.[SPECILIZED KNOWLEDGE] What is a Replay Attack?

A “Replay Attack” can happen when two forked crypto-currencies allow transactions to be validated across both chains. For example, if Bitcoin experiences a fork and is split into different versions like BT1 and BT2, each Bitcoin holder will retain his holdings and receives an equal amount of the forked cryptocurrency. The address, private key, algorithm [...]