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Create your own Bitcoin fork – No effort required

If you’re interested in forking the Bitcoin blockchain, but lack the motivation or programming knowledge required, Forkgen[1] may be the answer. The service provides a simple interface through which users can create their own Bitcoin hard fork – complete with tongue-in-cheek descriptions. A Bitcoin hard fork is when the Bitcoin blockchain is split off, due to various reasons, and a new cryptocurrency is essentially created.

An example of this is Bitcoin Cash. The fork shares the same transaction history as Bitcoin, and subsequently users who owned Bitcoin before the fork will also own the forked cryptocurrency. Forkgen is a commentary on the excessive amount of hard forks plaguing the Bitcoin ecosystem, many of which are Bitcoin clones aimed at making quick cash.

The website’s description also takes a swing at Bitcoin Cash, placing it in the same class as Bitcoin Gold and Bitcoin Diamond. “Inspired by successful forks like Bitcoin Gold, Bitcoin Diamond, and BCash, and the visionary leadership of Craig Wright, Forkgen is the embodiment of Satoshi’s True Vision where if big blocks are good for scaling, then many chains are even better,” it states.

Forking Bitcoin

Forkgen charges a minimum fee of 0.01 BTC for the creation of a Bitcoin hard fork, with extra charges for the removal of replay protection and changing the prefix of the public key, script, or private key address. Users are then provided with the binaries and source code for their Bitcoin fork, and this will require basic technical software knowledge to properly set up.

An example of the wallet for a Bitcoin fork created by Forkgen is shown below. Create your own Bitcoin fork – No effort required The site’s Frequently Asked Questions page provides more information on the process, along with multiple references to Craig Wright – the man who once claimed to be Bitcoin inventor Satoshi Nakamoto

In response to the question “Why would I want a fork?”, the website reads:

It gives you the entire Bitcoin user base instantly on inception. If your coin is worth a single cent, it means it is of interest to a large number of people in the world. You can ride on the coattails of others without the hardship of talent acquisition.

Use this to your advantage to build a new, better coin fitted to the religious dictates of your user base.

Risky Business

According to reports from Motherboard[2], TheNextWeb[3], and Bitcoin Magazine[4], the Forkgen generator successfully creates cryptocurrencies forked from Bitcoin. Users should not purchase any services from Forkgen without being aware of the risks involved, however. Under its Terms of Service, Forkgen states that it is “interactive performance art” and that “any losses of funds, reputation, etc. are solely the responsibility of the individual or organisation running the software”.

The software may work to specification, but it functions more as a commentary on the proliferation of Bitcoin forks.

If you are interested in creating a Bitcoin fork, you should develop and implement the blockchain yourself.

Now read: Bitcoin could fork up to 50 times in 2018[5]

References

  1. ^ Forkgen (forkgen.tech)
  2. ^ Motherboard (motherboard.vice.com)
  3. ^ TheNextWeb (thenextweb.com)
  4. ^ Bitcoin Magazine (bitcoinmagazine.com)
  5. ^ Bitcoin could fork up to 50 times in 2018 (mybroadband.co.za)

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