What is a Forking Event?
A forking event is a process in which the blockchain of a particular cryptocurrency splits into two separate blockchains. This usually occurs when developers of the original cryptocurrency decide to make changes to its code, resulting in incompatibility between the new and old versions of the software. As a result, all users must upgrade their software if they wish to remain on the network after the split has taken place. In some cases, these changes may be radical enough that those who do not upgrade will remain on an obsolete chain with no access to funds or tokens held by holders before the fork took place.
Forking events are often controversial within crypto communities as they can result in significant disruption and disagreement among stakeholders over how best to proceed forward. As such, forks should always be carefully planned and communicated prior to implementation so that all parties involved understand what is taking place and why it’s necessary for upgrades or improvements related to security or scalability issues.
