A ‘Hard Fork‘ is simply a change in protocol from a previous version. This process follows a divergence, with one part following the old path, and the new (forked) version following the upgrade path. Sometimes a hard fork can be applied to a chain, without the divergence being created. In this case, there won’t be any extra coins given to the users.
The new version inherits attributes of the old version but implements additional protocols (which could be an improvement on security) which are believed to make a better option than the original version.
An example of such would be the Bitcoin Cash (BCH) hard fork which is a fork of Bitcoin (BTC). Bitcoin Cash made some few changes to its protocol like increasing block sizes to 32MB rather than the 1MB block size implemented by Bitcoin (BTC).
These improvements have led to the many cryptocurrencies we have today – such as Bitcoin Gold, Bitcoin Private and even Ethereum – and more coming up by the day. Its important to know that not everytime a hard fork will also offer incentives for the investors, sometimes its just an upgraded protocol.
Below are hard forks expected in July.
As described by the team, the Ethereum Classic (ETC) is a smarter blockchain, community, cryptocurrency, and a network which extends the functionalities of a digital asset. Alongside the platform making it easy for people to send virtual money to each other, it also allows the use of complex smart contracts which are self-governed and immutable.
Ethereum Classic (ETC) tokens run the blockchain and are available for purchase/exchange on major cryptocurrency exchanges for bitcoins, ethereums, and USD.
The scheduled fork on the 13th July will result to Ethereum Emerald which will be forked at the 6,100,000th block.
Einsteinium was founded in 2014 but didn’t come to limelight until 2017. The Einsteinium is a fundraising platform which helps to eliminate corruption, and also enable a global community which can efficiently support scientific researches and much more.
Einsteinium (EMC2) on the other hand is the native token for the Einsteinium platform. These tokens can be traded for others on various cryptocurrency exchanges. The EMC2 is a Bitcoin-like virtual currency which utilizes the PoW (Proof-of-Work) algorithm. Although this currency was built primarily for scientific, charitable and political fundraising purpose, it can be used for any transactions.
EMC2 forks by changing its mining algorithm from Script to EThash. New tokens would be distributed to token holders at a 1:1 ratio.
Update: The Einsteinium team contacted us that the hard fork for Einsteinium (EMC2) cryptocurrency will come up late fall; an exact date is yet to be fixed.
The Sia platform is a distributed cloud storage that utilizes free storage secured by blockchain technology. The platform uses use of users hard drive capacity around the world, creating a data storage marketplace which is reliable at a lower cost than traditional storage providers such as Amazon and Apple.
SiaCoin (SC) is the networks’ official cryptocurrencies which will be used to purchase extra space needed by clients. Providers also are paid by the same cryptocurrency for making their un-utilized storage memory available to the network.
SiaCoins’ hard fork is scheduled for the 1st of July, 2018.
LIBRARY CREDIT LBC is a free, open, community-driven marketplace. The platform hosts the best of Hollywood films, college lessons, and other media contents. LBRY Credits (LBC) cryptocurrency would fuel activities on the blockchain.
LBRY Credits (LBC) tokens can be purchased on Bittrex, Poloniex, Upbit, and Cryptopia cryptocurrency exchanges. Currently, tokens can only be traded for bitcoin and tether cryptocurrencies.
The scheduled fork on the blockchain will take place on the 9th of July, 2018. The fork will extend how long claims will be valid before expiration on the network.
The HXX coin is a secure decentralized and blockchain-based system network which utilized a PoS (Proof-of-Stake) algorithm.
The HEXXCOIN (HXX) first came into existence in 2015 as a fork of Crave, then was revived two years later as a fork of Zerocoin (Zcoin) which also died down. In 2018, the coin was taken over by a new team who did their best, driving the project to unimaginable heights in such a short time. The coin is a centered on user privacy.
The team behind the project aims to extend the functionality of bitcoin using Zerocoin’s features. The fork will result in a new cryptocurrency called the BitcoinZeroX (BZX). BZX tokens will be issued to HEXX and Bitcoin cryptocurrency holders at a ratio of 1:1.
The HEXX fork is scheduled for the 1st of July, 2018.
Here’s a good platform which aims to take out video publishing platforms such as YouTube. On this platform, publishers and can get passive incomes from contents they upload to the platform.
The BitTube (TUBE) cryptocurrency is native to the platform and would be used as rewards for activities on the network. TUBE can also be exchanged for any other cryptocurrencies on any cryptocurrency exchange it’s listed.
With a peer-to-peer distributed network, BitTube will help people globally exercise their right to free speech, avoiding censorship.
BitTube (TUBE) is scheduled to fork on the 1st of July, 2018. The fork will involve a mining algorithm change to the network.
The Kore platform focuses on Privacy and Security targeted at restoring critical legal, human rights.
The KORE fork will be used to modify some basic aspect of the blockchain such as block time, difficulty, masternode rewards, staking and few other changes. The fork is scheduled for the 1st of July 2018.
Its important to notice that some of these hard forks are subject to change by the community. Therefore it’s essential to follow the progress of various community via different social media platforms to follow progress.