Bitcoin  Cash

Bitcoin  Cash

Lately, the question I hear most in these days is: will there be duplication of tokens with the birth of a new cryptocurrency?

From the article I read, it would seem yes, but many are skeptical! First of all, let’s say what the “duplication” of tokens is. When a fork generates a bifurcation in the blockchain (in this case that of Bitcoin Cash) after the fork coexist 2 chains, with the same tokens. So who had tokens on the original chain before the fork, afterwards will find an identical quantity of token also on the second chain.

When new chains are born (or when the blockchain forks) in fact new cryptocurrencies are born, for example, as happened with Bitcoin Cash on August 1, 2017. So if the November 15th hard rock will create a new chain, then a new cryptocurrency will also be created. In this case the BCH tokens will be “duplicated” on the new chain, and therefore their owners, while retaining them, will find an equal quantity of new tokens even in the new cryptocurrency.

Obviously, it is not absolutely certain that the value, for example in euros or dollars, of the new tokens is the same as the “old” ones, on the contrary … Just think of the comparison between the value of Bitcoin (BTC) and that of Bitcoin Cash ( BCH) after the fork of 2017.

But this time there is a “complication” more: there may be no bifurcation. In this case no birth of a new cryptocurrency, and no “duplication” of tokens. In fact, many are skeptical about the possibility that the new chain survives: in order to have a future there must be miner who decide to undermine the blocks, otherwise it will simply “turn off” by itself. The hypothesis that is circulating the most is that the new chain may not survive.

We will have to wait for the fork to understand how it will end, and it is not even said that already on November 16 we will have definitive answers. Remember that if you have BCHs at the fork, you can retrieve any new tokens when you want, thanks to the private key of the wallet (which you must have, carefully store, and above all never give to anyone). Be careful, because during the fork the scams of those who ask you the private key of your wallet to “duplicate” the tokens …:)

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