1. A blockchain fork is essentially a split in a blockchain network. The network is an open software and the code is free to use. This means that anyone can suggest improvements and change the code. The option to experiment with open source software is a fundamental part of cryptocurrency and also helps with software updates to the blockchain. Forks occur when different miners' software becomes misaligned. This depends on which blockchain the miner decides to continue using. If there is no unanimous decision then this can lead to the creation of two versions of the blockchain. These events may be preceded and followed by periods of increased price volatility. (1-) How forks are created In any block, there is no transfer out address, which is the so-called CoinBase (mining transaction). No one pays the miner for this, the miner just writes as a matter of course that he or she has received 12.5 bitcoins. All nodes approve of the miner writing this, so the miner gets the mining revenue. The data must be different for different miners when they fill in the block, because it must be different for each miner, and the miner will only transfer the mining revenue to his own address. Since each miner's block data is different, they solve the problem and come up with different results, all with the correct answer, just different blocks. The blockchain then has two different blocks at this point in time that both satisfy the requirements. So what do all miners do at this point? Due to proximity, different miners see the two blocks in sequence. Typically, miners will copy the block they saw first and then start a new mining job on that block, thus creating a plural chain. We call this phenomenon a fork. In a blockchain system where the proof-of-work mechanism is the consensus algorithm, this problem is solved in this way: from the forked block onwards, there is a difference in arithmetic power between the two different chains that emerge from the fork, as different miners follow different blocks. Figuratively speaking, the number of miners following the two chains is different. Since the solving power is proportional to the number of miners, the two chains grow at different rates, and after a while, there is always one chain that is going to be longer than the other. When a miner finds a longer chain across the network, he discards his current chain, copies the new longer chain all the way back, and continues mining on top of that chain. With all miners operating in this way, this chain becomes the master chain and the forked out and discarded chain disappears. Eventually, only one chain will be preserved and become a truly valid ledger; all others are invalid, so the entire blockchain remains unique. Note that the premise that enables a blockchain to guarantee data uniqueness is that all miners obey the same mechanism. There is also a case where miners do not follow the same mechanism, and then a fork can occur. There are two scenarios for such a fork: firstly, due to an upgrade of the entire blockchain system software, some miners do not have time to upgrade and a fork occurs that follows a different mechanism. When this part of miners upgrades the system, this fork will disappear, and we call this kind of fork a soft fork. Secondly, due to disagreement among miners, a part of miners decide to adopt a different mechanism, and the resulting fork will not disappear. We generally refer to this type of fork as a hard fork. (2) How forks work Forks work by making changes to the software protocol of the blockchain. They are usually associated with the creation of new tokens. The main method of creating new cryptocurrencies is to create them from scratch. Alternatively, a "fork" is performed on an existing cryptocurrency blockchain. Creating new tokens from scratch is the most common method. This method involves 'copying and pasting' existing code, which is then modified and launched as a new token. The network needs to be built from scratch and people need to be convinced to use the new cryptocurrency. An example of this approach is Litecoin, which originated as a clone of Bitcoin. The founders made changes to the code, people believed in it and it is now a popular cryptocurrency. Another method is to fork an existing blockchain. With this method, changes are made to the existing blockchain rather than starting from scratch. In this case, two versions of the blockchain will be created when the network is split. An example of this is the creation of Bitcoin Cash. The different views around the future of Bitcoin led to the creation of a new cryptocurrency (Bitcoin Cash) from the original cryptocurrency (Bitcoin). (3) What is a hard fork A hard fork is a form of software upgrade that does not support backwards compatibility. Typically, these occur when a node adds new rules in a way that conflicts with the rules of the old node. The new node can only interact with the software node running the new version. As a result, the blockchain splits, producing two separate networks: one that runs under the old rules and one that runs under the new rules. As a result, there are now two networks running in parallel. They will continue to produce blocks and transactions, but will no longer work on the same blockchain. Until the blockchain network reaches a forked block, all nodes have the same blockchain (and the history still exists), but after that they will have different blocks and transactions. Since the same history exists, if you held tokens before the fork, you will receive tokens on both networks at the same time. Suppose you have 5 BTC in hand at the time of the fork at block height 600,000. You can choose to spend the 5 BTC on the original blockchain when the block height reaches 600,001, but the spend at block height 600,001 will not be recorded on the newly created blockchain. Assuming no change in encryption, the 5 tokens will still be present in your private key on the new forked network. Another case of a hard fork is the fork that occurred in 2017, when Bitcoin split into two separate chains, the original Bitcoin (BTC) and the new Bitcoin Cash (BCH). The fork emerged after much debate in the community over the scaling of block capacity. Bitcoin Cash (BCH) proponents wanted to increase the block size, while Bitcoin (BTC) proponents were against the change. The increase in block size required a rule change. This was done before the SegWit soft fork (more on this later), so nodes will only accept blocks smaller than 1MB. If you create a 2MB block, other nodes will refuse to validate it. Only nodes that have upgraded their software and support block sizes larger than 1MB will be able to accept these blocks. Of course, this makes them incompatible with previous versions, so only nodes with the same protocol can communicate with each other. (4) What is a soft fork Soft forks are software upgrades that support backwards compatibility, so that upgraded nodes can still interact with unupgraded nodes. A soft fork upgrade usually involves adding a new rule to the program, which also does not conflict with the old rule. For example, a soft fork can be used to achieve a downward adjustment in block size. Let's use Bitcoin as an example of this again: there is a limit on the upper limit of block size in the Bitcoin network, but there is no limit on the lower limit of block size. If you only want to accept blocks below a certain size, you can simply reject blocks larger than that value. However, doing so does not automatically disconnect you from the network. You can still interact with nodes that do not enforce these rules, but some of the information they pass to you will be filtered out. A good case in point is the aforementioned Segregated Witness (SegWit), which occurred shortly after the split of Bitcoin and Bitcoin Cash. Segregated witnessing is an update that changes the format of the block and transaction, and it is designed in a more clever way. Older nodes can still validate blocks and transactions (in a format that doesn't violate the rules), but for certain fields they can't read them. Only when the node is upgraded to a newer version are certain fields readable, and can other data be parsed correctly. Even in the more than two years since the isolated witness was activated, the upgrade of all nodes has not been completed. This also had many advantages, such as no network outages and less urgent upgrades.

2. The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC". https://accounts.binance.com/en/register?ref=Q022W7SC

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.

1. A blockchain fork is essentially a split in a blockchain network. The network is an open software and the code is free to use. This means that anyone can suggest improvements and change the code. The option to experiment with open source software is a fundamental part of cryptocurrency and also helps with software updates to the blockchain. Forks occur when different miners' software becomes misaligned. This depends on which blockchain the miner decides to continue using. If there is no unanimous decision then this can lead to the creation of two versions of the blockchain. These events may be preceded and followed by periods of increased price volatility. (1-) How forks are created In any block, there is no transfer out address, which is the so-called CoinBase (mining transaction). No one pays the miner for this, the miner just writes as a matter of course that he or she has received 12.5 bitcoins. All nodes approve of the miner writing this, so the miner gets the mining revenue. The data must be different for different miners when they fill in the block, because it must be different for each miner, and the miner will only transfer the mining revenue to his own address. Since each miner's block data is different, they solve the problem and come up with different results, all with the correct answer, just different blocks. The blockchain then has two different blocks at this point in time that both satisfy the requirements. So what do all miners do at this point? Due to proximity, different miners see the two blocks in sequence. Typically, miners will copy the block they saw first and then start a new mining job on that block, thus creating a plural chain. We call this phenomenon a fork. In a blockchain system where the proof-of-work mechanism is the consensus algorithm, this problem is solved in this way: from the forked block onwards, there is a difference in arithmetic power between the two different chains that emerge from the fork, as different miners follow different blocks. Figuratively speaking, the number of miners following the two chains is different. Since the solving power is proportional to the number of miners, the two chains grow at different rates, and after a while, there is always one chain that is going to be longer than the other. When a miner finds a longer chain across the network, he discards his current chain, copies the new longer chain all the way back, and continues mining on top of that chain. With all miners operating in this way, this chain becomes the master chain and the forked out and discarded chain disappears. Eventually, only one chain will be preserved and become a truly valid ledger; all others are invalid, so the entire blockchain remains unique. Note that the premise that enables a blockchain to guarantee data uniqueness is that all miners obey the same mechanism. There is also a case where miners do not follow the same mechanism, and then a fork can occur. There are two scenarios for such a fork: firstly, due to an upgrade of the entire blockchain system software, some miners do not have time to upgrade and a fork occurs that follows a different mechanism. When this part of miners upgrades the system, this fork will disappear, and we call this kind of fork a soft fork. Secondly, due to disagreement among miners, a part of miners decide to adopt a different mechanism, and the resulting fork will not disappear. We generally refer to this type of fork as a hard fork. (2) How forks work Forks work by making changes to the software protocol of the blockchain. They are usually associated with the creation of new tokens. The main method of creating new cryptocurrencies is to create them from scratch. Alternatively, a "fork" is performed on an existing cryptocurrency blockchain. Creating new tokens from scratch is the most common method. This method involves 'copying and pasting' existing code, which is then modified and launched as a new token. The network needs to be built from scratch and people need to be convinced to use the new cryptocurrency. An example of this approach is Litecoin, which originated as a clone of Bitcoin. The founders made changes to the code, people believed in it and it is now a popular cryptocurrency. Another method is to fork an existing blockchain. With this method, changes are made to the existing blockchain rather than starting from scratch. In this case, two versions of the blockchain will be created when the network is split. An example of this is the creation of Bitcoin Cash. The different views around the future of Bitcoin led to the creation of a new cryptocurrency (Bitcoin Cash) from the original cryptocurrency (Bitcoin). (3) What is a hard fork A hard fork is a form of software upgrade that does not support backwards compatibility. Typically, these occur when a node adds new rules in a way that conflicts with the rules of the old node. The new node can only interact with the software node running the new version. As a result, the blockchain splits, producing two separate networks: one that runs under the old rules and one that runs under the new rules. As a result, there are now two networks running in parallel. They will continue to produce blocks and transactions, but will no longer work on the same blockchain. Until the blockchain network reaches a forked block, all nodes have the same blockchain (and the history still exists), but after that they will have different blocks and transactions. Since the same history exists, if you held tokens before the fork, you will receive tokens on both networks at the same time. Suppose you have 5 BTC in hand at the time of the fork at block height 600,000. You can choose to spend the 5 BTC on the original blockchain when the block height reaches 600,001, but the spend at block height 600,001 will not be recorded on the newly created blockchain. Assuming no change in encryption, the 5 tokens will still be present in your private key on the new forked network. Another case of a hard fork is the fork that occurred in 2017, when Bitcoin split into two separate chains, the original Bitcoin (BTC) and the new Bitcoin Cash (BCH). The fork emerged after much debate in the community over the scaling of block capacity. Bitcoin Cash (BCH) proponents wanted to increase the block size, while Bitcoin (BTC) proponents were against the change. The increase in block size required a rule change. This was done before the SegWit soft fork (more on this later), so nodes will only accept blocks smaller than 1MB. If you create a 2MB block, other nodes will refuse to validate it. Only nodes that have upgraded their software and support block sizes larger than 1MB will be able to accept these blocks. Of course, this makes them incompatible with previous versions, so only nodes with the same protocol can communicate with each other. (4) What is a soft fork Soft forks are software upgrades that support backwards compatibility, so that upgraded nodes can still interact with unupgraded nodes. A soft fork upgrade usually involves adding a new rule to the program, which also does not conflict with the old rule. For example, a soft fork can be used to achieve a downward adjustment in block size. Let's use Bitcoin as an example of this again: there is a limit on the upper limit of block size in the Bitcoin network, but there is no limit on the lower limit of block size. If you only want to accept blocks below a certain size, you can simply reject blocks larger than that value. However, doing so does not automatically disconnect you from the network. You can still interact with nodes that do not enforce these rules, but some of the information they pass to you will be filtered out. A good case in point is the aforementioned Segregated Witness (SegWit), which occurred shortly after the split of Bitcoin and Bitcoin Cash. Segregated witnessing is an update that changes the format of the block and transaction, and it is designed in a more clever way. Older nodes can still validate blocks and transactions (in a format that doesn't violate the rules), but for certain fields they can't read them. Only when the node is upgraded to a newer version are certain fields readable, and can other data be parsed correctly. Even in the more than two years since the isolated witness was activated, the upgrade of all nodes has not been completed. This also had many advantages, such as no network outages and less urgent upgrades.

2. The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC". https://accounts.binance.com/en/register?ref=Q022W7SC

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.