What is a Fork Snapshot (What does Fork mean)

A fork snapshot is a blockchain protocol designed to enable interoperability between chains. According to official explanations, when there are issues with the network, transactions are packaged into blocks and confirmed (so that users can view those transactions through their wallets). This method, called a “fork,” allows anyone to express disagreement or initiate litigation regarding the business. To address this possibility, the development team has been researching a method called a “fork snapshot.”

The concept of a fork snapshot includes:

1. Miners receiving Bitcoin rewards;

2. Community members being penalized or punished in Bitcoin for the split;

3. A new cryptocurrency emerging from the fork.

What does Fork mean

According to coindesk, a hard fork refers to a change in name and functionality of a blockchain protocol during an upgrade process. Generally, “fork” is a concept that signifies the recombination of one or more parts of the code into a new system after changes have occurred. This term serves two purposes: first, to explain “reorg.” If this word is combined with “merge,” it can be understood as “fusion.” However, when it comes to “divergence,” it indicates some form of mutual substitution between the two.