United States Vice President Kamala Harris made her first public statement about crypto during her presidential election campaign. In comments made at a Wall Street fundraiser, Harris vowed to encourage investment in artificial intelligence and digital assets.
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” Harris stated at a fundraiser in Manhattan, as reported by Bloomberg on Sept. 22.
“We will create a safe business environment with consistent and transparent rules of the road,” she added. “We will invest in semiconductors, clean energy and other industries of the future, and we will cut needless bureaucracy.”
This is the first time Harris has publicly addressed crypto since becoming the Democratic Party’s presidential frontrunner. Her Republican rival, Donald Trump, has also sought support from the crypto industry.
The industry has speculated whether Harris would adopt a different approach to crypto compared to President Joe Biden, who some perceive as unfriendly to the sector.
In August, Harris’ senior campaign adviser, Brian Nelson, hinted she would support crypto policies if she wins the presidential election in November. However, she emphasized that the industry needs “rules of the road,” citing the collapse of some companies.
“This is an important and constructive statement from Kamala Harris,” Coinbase policy chief Faryar Shirzad noted in a Sept. 22 post on X.
“It’s not nearly as forward-leaning as the concrete and visionary positions taken by Donald Trump, but it’s still notable because she recognizes digital asset innovation as being important and on par with AI,” he added.
Alexander Grieve, vice president of government affairs at venture firm Paradigm, called Harris’ remarks “encouraging,” stating that regardless of the outcome in November, “this should be the last anti-crypto administration.”
“This is progress and progress is good,” crypto venture firm Variant’s legal chief Jake Chervinsky commented on X. “But ‘while protecting our consumers and investors’ could mean a lot of things.”
“The anti-crypto army uses ‘consumer protection’ as a smoke screen to conceal their attempts to destroy our industry,” he claimed. “I, for one, want to see policy details.”
Crypto has become a campaign issue, with US crypto companies, including Coinbase, Ripple, and Gemini, spending nearly $120 million to influence the upcoming elections, as reported by Public Citizen in August.
Trump has released four non-fungible token collections, endorsed his family’s crypto platform, and has closely embraced the crypto industry. He’s promised to be a “crypto president” and to fire US Securities and Exchange Commission Chair Gary Gensler, whose agency has initiated multiple enforcement actions against major crypto players.
Harris and Trump are neck-and-neck in national polls, with Harris leading Trump by only 2.9 percentage points, according to Sept. 22 data from FiveThirtyEight.
The former U.S. president Donald Trump has recently launched the new crypto project, World Liberty Financial (WLF), raising concerns about the conflict of interest. The asset was made by Trump and his sons, Eric and Donald Jr., and it could change the banking systems we remember for using stablecoins instead.
As there are not many details available, certain people in the market are concerned about potential conflicts of interest, considering Trump’s political ambitions.
World Liberty Financial and Its Focus on Stablecoins
World Liberty Financial’s focus is now on stablecoins – crypto assets designed to keep a strong price by linking to traditional currencies such as the US dollar. The stability it offers makes it one of the most attractive options for investors right now, especially when compared to some riskier options like Bitcoin or Ethereum.
Trump’s sons said that WLF will offer lending, money transfers, and digital real estate services, trying to minimize the need for traditional banks.
While all specifics still remain a mystery, early reports say WLF will focus on providing safe and user-friendly crypto services. To fully use that potential, users must store their assets in this secure wallet, providing a safe environment for their portfolio.
Controlling and Owning WLF
WLF’s governance structure is really interesting, as the platform is expected to use blockchain-powered governance tokens that provide voting rights but no economic benefits such as dividends or profits.
Each owner will be limited to holding only 5% of the tokens, with 63% available to the public, and the remaining tokens split between user rewards (17%) and compensation for WLF staff and advisers (20%).
At first, a leaked draft suggested 70% of tokens would be controlled by the project’s founders and employees, with certain investors raising concerns about the true intentions behind the project. Anyway, these numbers have since been changed, which will most likely calm the community.
Trump’s dealing with the crypto project has started big ethical debates, mostly because of his current political status. So, if he wins the presidency in 2024, he could directly regulate the crypto industry, potentially creating conflicts of interest.
Critics say that a combination of Trump’s political power and his business projects like the WLF token could hurt trust in Trump and his work.
Community Concerns and Conflicts of Interest
Trump’s thoughts on crypto assets have changed a lot since 2021, when he called Bitcoin a “scam” and a “disaster waiting to happen.” Now, partly because of his sons’ influence and the success of his blockchain-based NFT sales, which have earned him over $7 million in royalties, Trump seems to have realized the importance of digital assets.
His sudden change in opinion, combined with the new WLF project, brings questions about how his personal business interests might impact some future regulatory decisions if he returns to the office.
Many industry experts have commented on the potential conflicts of interest, as Trump continues promoting his family’s crypto business while running the political campaign at the same time. If elected, Trump could have a lot of power over the crypto regulations, creating a serious ethical dilemma on the market.
Danielle Brian from the Project on Government Oversight said that Trump’s involvement in the crypto industry could build “serious conflicts of interest,” an idea shared by Trump biographer Tim O’Brien, who called it “a conflict of interest in motion.”
The World Liberty Financials’ Next Step
Despite all these concerns ahead of the election, Trump’s new altcoin remains an interesting opportunity for investors. As he’s using crypto for his campaign, many seasoned analysts believe Trump could lead the market to the next level if he wins the election.
If everything goes as planned, and Trump and his family handle all these problems, World Liberty Financials could easily become the next big name in the industry.
Blockchain technology has been making waves across various industries, promising enhanced security, transparency, and efficiency. One of the most exciting developments in this field is the emergence of smart contracts. These automated contracts, with terms of agreements directly written into their base code, are transforming how transactions are conducted and recorded.
Understanding Smart Contracts
Smart contracts are programs stored on a blockchain that automatically execute actions when predetermined conditions are met. The concept was first proposed by computer scientist Nick Szabo in the 1990s, but it gained traction with the advent of blockchain technology, particularly with the Ethereum platform. Unlike traditional contracts, smart contracts do not require intermediaries, which significantly reduces the risk of fraud and speeds up transaction processes.
Applications of Smart Contracts
The applications of smart contracts are vast and varied. They can be used in financial services, supply chain management, healthcare, and even real estate. In the financial sector, for instance, smart contracts can automate complex financial transactions, ensuring they are executed exactly as agreed upon. This automation minimizes human error and reduces the time needed to complete transactions.
In supply chain management, smart contracts can track the movement of goods from the manufacturer to the consumer. This transparency helps in verifying the authenticity of products and ensures that contractual obligations are met at every stage of the supply chain.
Enhancing Payout Speed
One of the most interesting uses of smart contracts is in the online gambling industry. The reliability and efficiency of smart contracts can address one of the most critical issues for players: the speed of payouts. Traditional online casinos often face delays due to manual processing and verification steps, causing frustration among players. By using smart contracts, casinos can automate the payout process, ensuring that players receive their winnings immediately after fulfilling the winning conditions. This instant execution not only enhances user experience but also builds trust in the platform. For players, this can make the experience of engaging with casino promotions even more attractive, as the assurance of quick and fair payouts adds to the overall appeal.
Security and Trust
Another key advantage of smart contracts is their ability to enhance security. Since they are stored on a blockchain, they are immutable and transparent. This means that once a contract is created, it cannot be altered, reducing the risk of manipulation or fraud. Additionally, the decentralized nature of blockchain ensures that no single entity has control over the contract, which further enhances trust.
Challenges and Future Prospects
Despite their numerous benefits, smart contracts are not without challenges. One of the main issues is the complexity of coding these contracts, which requires a high level of expertise. Errors in the code can lead to significant financial losses. There is also the question of legal recognition and enforcement of smart contracts, as they are still a relatively new concept in many jurisdictions.
Looking ahead, the future of smart contracts is promising. As blockchain technology continues to evolve, it is likely that we will see more user-friendly platforms for creating and managing smart contracts. This will make them more accessible to a broader range of businesses and individuals, further driving their adoption.
In conclusion, smart contracts are revolutionizing the way transactions are conducted across various sectors. Their ability to enhance security, transparency, and efficiency makes them a valuable tool in the digital age. As the technology matures, it will be exciting to see how smart contracts continue to transform industries and potentially become a standard in contract execution.
Play to Earn (P2E) has come a long way as one of the earliest applications of Bitcoin, and now with the advent of more decentralized ecosystems, this mode of playing video games has taken a more improved shape.
This guide will dive into YAYTSOGRAM, a memecoin-based P2E game on the TON ecosystem that lets you earn Toncoin ($TON) using a sophisticated referral program.
What is YAYTSOGRAM?
YAYTSOGRAM is a uniquely designed tap-to-earn and referral system game that has gained popularity from its addictive gameplay mechanics that involves breaking eggs to receive rewards.
The game is based on tokenomics built on top of Telegram’s The Open Network (TON) where the main game points are clicks. You earn atleast 50,000 clicks whenever one of your referrals makes about 100 clicks. The more clicks you accumulate, the closer you are to winning valuable prizes.
This gameplay for rewarding gamers according to the progress of their referrals is what has brought so much popularity and buzz around YAYTSOGRAM.
At the same time, the game has a unique approach to attracting revenue through strategic partnerships, ad views, traffic sales and affiliate programs. With this revenue, YAYTSOGRAM is able to process its payouts.
How Do You Play YAYTSOGRAM and Earn TON?
The gameplay mechanics of YAYTSOGRAM involves breaking different types of eggs to earn TON crypto coins where each reward depends on the broken egg’s level.
As suggested, these eggs are different and their differences are classified into various levels with each level providing a distinct reward.
What are the Different Types of Eggs on YAYTSOGRAM?
Here are the various levels of eggs and their different rewards:
| Egg Level | Starter | Silver | Gold | Platinum | Ruby | Diamond | Adminium |
| Reward (Upto) | 20 TON | 30 TON | 40 TON | 50 TON | 60 TON | 70 TON | 80 TON |
The other thing to point out is each reward will vary as per the payer’s game activity and engagement with the referral system. With every friend you invite, you increase your chances of receiving the maximum reward. It is also a massive boost + added advantage if you are active in the game. 
Their level of activity is measured through the amount of tasks they complete. Other gameplay mechanics that will increase the numbers of clicks include participating in contests, claiming daily bonuses and completing tasks.
YAYTOSGRAM convenes prize giveaways everyday to reward the top users depending on their daily activity. The game ranks all players as well as offers another ranking for each individual egg level. These rankings get updated daily, and for every player who makes it into the list, they get between 0.1 – 3.0 TON tokens depending on their rank.
How Can You Break More Eggs Faster?
You have higher chances of winning bigger rewards if you can break the eggs faster. To achieve these, YAYTSOGRAM offers players various options to boost their speed:
Boosters come in the form of in-game boosts such as special bonuses or auto-clickers which players earn by completing tasks or participating in contests. With boosters, you can significantly increase your speed of accumulating clicks, or getting you closer to breaking more eggs and getting more rewards.
Referral Program, as we earlier suggested is another way to earn more extra clicks by inviting friends. The very first 100 clicks from an invited friend will earn you 50,000 clicks. As such, the Referral Program is YAYTSOGRAM’s most effective clicks booster.
A winning tip is to combine boosters + referrals to maximize your gains and achieve the results you desire quickfast.
What are the Tokenomics of YAYTSOGRAM?
YAYTSOGRAM’s tokenomics demonstrate the long-term plans that the game has in place to leave a long-lasting impression once the in-game token is out. The game’s mission is clocking 10 million+ active players and once it has achieved this milestone, the team will begin developing the token.
If done right, the YAYTSOGRAM token will strengthen the game’s economic design and add more incentives for active players.
Meanwhile, the game is looking to list the token once the YAYTSOGRAM reaches 30 million users which will enable the users to trade freely among themselves. At this point of the roadmap, the game will have transformed from just a click game into a fully-fledged cryptocurrency platform that will open up even more opportunities for the players.
It is worth noting that during these phases, YAYTSOGRAM will distribute free tokens through an airdrop, where the amount will depend on each player’s clicks. As such, every action aims to bring more value and appreciation for user participation.
Final Take
YAYTSOGRAM is a rapidly evolving gaming platform that delivers enhanced gamification and cryptocurrencies. The game has a unique approach of rewarding players by using a referral system, completing tasks and participating in contests. The daily leaderboard and ranking are enough incentives to encourage the players. At the same time, YAYTSOGRAM has promised to deliver more cutting edge features that will transform the game into a fully-fledged crypto gaming ecosystem.
Pepe Warrior could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Warrior (PEPEWAR), a new Solana memecoin that was launched recently, is poised to explode over 18,000% in price in the coming days.
This is because PEPEWAR is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Warrior can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Warrior could become the next viral memecoin.
Pepe Warrior launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Warrior on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Warrior by entering its contract address – EEP2VmX7dSbdTB8jdfjeyFqQ8eBhMF4YiV81gRbMgcq – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEWAR.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Elon Pumps could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Elon Pumps (ELONPUMP), a new Solana memecoin that was launched today, is poised to explode over 19,000% in price in the coming days.
This is because ELONPUMP is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Elon Pumps can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon Pumps could become the next viral memecoin.
Elon Pumps launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Elon Pumps on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Elon Pumps by entering its contract address – 9EwZaRCDjZWs2AkiSi2nhPxcExjtv5obd5kYXDRipyir – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELONPUMP.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Rekt Bears could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Rekt Bears (REKTBEAR), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days.
This is because REKTBEAR is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Rekt Bears can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Rekt Bears could become the next viral memecoin.
Rekt Bears launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Rekt Bears on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Rekt Bears by entering its contract address – 3sXpovRTBeXxZ4pvoxtmEadVbA6YKMVCaXLZceC7wbc7 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like REKTBEAR.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Lawyers for the U.S. Securities and Exchange Commission (SEC) have requested a delay until February 2025 to provide “hundreds of thousands of documents” in their legal battle with Coinbase.
In a Sept. 18 court filing, the SEC asked the U.S. District Court for the Southern District of New York to extend the deadline for producing documents by four months, originally set for Oct. 18.
This follows a partial win for Coinbase in its motion to compel discovery, which requires the SEC to provide details on how it applies securities laws to tokens.
The SEC stated that it’s currently reviewing over 133,000 unique documents, and the extension would give them the time needed to comply with the court’s order.
If the extension is approved by Judge Katherine Failla, the SEC would have until Feb. 18, 2025, to produce fact discovery documents, and expert discovery—including depositions—would have a new deadline of April 22, 2025. If the case proceeds to trial, it likely wouldn’t begin until 2025.
This legal battle is part of a broader clash between the SEC and several crypto exchanges. At the same time, U.S. lawmakers are debating the SEC’s role in crypto regulation. The House Subcommittee on Digital Assets recently discussed whether the SEC’s approach under Chair Gary Gensler has been overly political.
In addition to its case against Coinbase, the SEC has been involved in major lawsuits against other firms like Ripple Labs, Terraform Labs, and Binance. It remains unclear whether potential changes in SEC leadership after the 2024 U.S. elections will have a significant impact on these court cases.
Tectonic shifts in the way things work sometimes take time to come to full fruition, and though crypto has been with us for 15 years now in some form or another, the adoption in businesses and certain industries has taken some time while other industries have sped ahead and noticed the benefits for consumers.
The number of crypto users in the UK has also grown over the years and this is another reason why some businesses may be looking to include it as one of the options for payments.
Industries that Lead The Way
Some industries quickly latched on. Early adopters in the fields of gambling and cryptocurrencies provided people with options to play games or bet on sports using their cryptocurrencies, and with simple ways to transfer money by the blockchain plenty of users started to use this method.
The gambling industry has been big in the UK for a long time and since the advent of the internet, it has been through quite a few different changes. Sportsbook gambling in the UK is popular as the country is home to some huge competitions – the UK is known to be a hub for football and the place where the biggest sport in the world was invented, so innovation is not something that should come as a surprise. Different payment methods mean bettors who choose to use Thunderpick may see multiple markets on both traditional sports like football and some of the more modern options like esports.
Crypto makes a lot of sense for the gambling industry. It makes transfers a lot more straightforward and quicker for some players and also has the potential to reduce fees that are sometimes associated with payment methods.
Without getting too technical, blockchain is what makes this technology “decentralized” and means there isn’t one specific company that is managing the payment and potentially holding things up. Security comes from anonymity and the fact that the blockchain is a P2P network, not a central one.
A lot of industries besides gambling that are currently accepting cryptocurrencies as payments are high-tech industries. Some founders at top businesses are predicting continued growth in this as a payment method across the UK and the world. Web 3.0’s adoption is breaking through in many ways. Web hosting is another industry where companies have started to accept different payment methods including cryptocurrencies.
Bitcoin Payment Processors
Payment processing is a complex industry and there are loads of different companies that can potentially help businesses.
Overclockers UK is one of the businesses accepting cryptocurrencies through using a payment processor. BitPay allows businesses to accept crypto even if they want to get paid in another currency. They act as a service to make this transfer and conversion to give convenience to both the customer and the retailer.
What this payment processing means is that there are a lot of companies that can make the choice to take payments in this way even if they haven’t fully adopted Bitcoin. It reduces the commitment (and the effort) that it takes to start giving your customers this extra choice.
Customers are used to having multiple payment methods now and smart payments. Digital wallet use in the UK has rocketed to popularity. 1 in 5 people are now thought to use some sort of digital payment method and we see this anecdotally in daily life. Perhaps you’re one of the people already using something like Apple pay, simply waving your phone or even watch to complete a payment.
The Impact of Blockchain
London, often hailed as a tech hub, is teeming with startups that are embracing blockchain technology and exploring what crypto can do beyond being just a digital currency. Blockchain itself is revolutionary for some industries and people know the potential. Investments in big UK-based blockchain companies are growing. These companies are looking into things like smart contracts and decentralized applications, and they’re getting creative with it. The result? A flurry of innovation that’s turning heads not just locally, but globally.
Accelerators and incubators focused on blockchain are becoming more common in the UK, providing mentorship, funding, and networking opportunities for startups in the space.
Stats back up the growth in this industry and Crunchbase shows that there are over 1,000 different companies in the area that class themselves as blockchain startups – all of these companies may have a role to play in making the UK an option for blockchain entrepreneurs and developers looking to make their mark and ultimately make crypto the default for some users.
Conclusion
Nobody knows for sure but the signs are clear that crypto is becoming a bigger part of the financial landscape in the UK. With increasing adoption among consumers and businesses, and a thriving ecosystem of startups and innovators. Digital currencies are here to stay and crypto is likely to be part of the equation as companies introduce more payment options.
# **Understanding Crypto Forks**
As the world of cryptocurrencies becomes increasingly complex, one term that frequently pops up is “crypto forks”. But what exactly does that mean? This article will delve into the intricacies of crypto forks, their significance, and their effects on the crypto market.
## **H2: What are Crypto Forks?**
A crypto fork can be considered as a divergence in the blockchain network. It happens when the existing code of a cryptocurrency is changed, leading to a split or a “fork” in the blockchain. Crypto forks can occur in any crypto technology platform, such as Bitcoin, Ethereum, or Quantum ai.
There are generally two types of crypto forks – hard forks and soft forks.
### **H3: Hard Forks**
A hard fork is a permanent divergence from the original version of the blockchain. After a hard fork, blocks verified by nodes using the old protocol will be invalid. Therefore, to continue transacting, all nodes must work in accordance with the new rules.
Examples of hard forks include Bitcoin Cash (2017) and Ethereum Classic (2016). In both cases, the communities were divided over proposed changes, leading to a split.
### **H3: Soft Forks**
A soft fork, on the other hand, is a backward-compatible method of upgrading a blockchain. It’s a fork wherein only previously valid blocks are made invalid. Since old nodes will recognize the new blocks as valid, this type of fork requires most miners upgrading to enforce the new rules.
An example of a soft fork is the Bitcoin SegWit update, which was intended to improve the scalability of the original Bitcoin network.
## **H2: The Impact of Crypto Forks**
Crypto forks can have significant effects on the crypto market and the value of the respective cryptocurrencies.
### **H3: Market Reaction**
Forks can lead to price volatility. When a new cryptocurrency is created as a result of a fork, it can cause significant price swings. For example, after the Bitcoin Cash fork, Bitcoin’s price dropped by 4%, while Bitcoin Cash experienced a surge.
### **H3: User Reaction**
Crypto forks often lead to confusion and uncertainty among investors. This is because the outcome of a fork can be unpredictable, and it may take time for the market to adjust. However, forks can also be seen as an opportunity for investors to diversify their portfolios, as they will receive an equivalent amount of the new coin after a hard fork.
### **H3: Network Security**
Crypto forks can impact the security of a blockchain network. For instance, the more the blockchain forks, the higher the risk of a ‘51% attack’. As the hash power is split between the original chain and the forked chain, it could be easier for a malicious miner to take control.
## **H2: Pros and Cons of Crypto Forks**
Like everything else, crypto forks come with their advantages and disadvantages.
### **H3: Pros**
– Opportunity for improvement: Crypto forks allow developers to fix security risks found in older versions of the software.
– Increased innovation: They provide a way for communities to introduce new features and improve the functionality of the existing system.
– Investor benefits: After a hard fork, investors holding the original cryptocurrency will receive an equivalent amount of the new coin, which can be profitable.
### **H3: Cons**
– Investor confusion: Forks can lead to market instability and confusion among investors.
– Security risks: As mentioned before, forks can increase the risk of a ‘51% attack’.
– Community division: They can lead to disagreements within the community, which can result in a split.
## **H2: FAQ**
### **H3: Does a fork create new coins?**
Yes, a hard fork results in the creation of a new cryptocurrency. All owners of the original coin will receive an equivalent amount of the new coin.
### **H3: What happens to the original coin after a fork?**
The original coin continues to exist even after a fork. However, its value may fluctuate due to market reactions.
### **H3: Can a fork be reversed?**
A hard fork cannot be reversed since it creates a permanent divergence from the original blockchain. However, a soft fork could be reversed if the majority of miners agree to switch back to the old system.
For more information on blockchain technology and its potential applications, visit Quantum ai.