blockchain split scenario into two parts

Notice the latest news - Backup private key

There will be a lot of plans for the Bitcoin network in the 3-4 months period. We also occasionally discuss Bitcoin.com in detail about this issue, but people are still losing sight of what happens if two blocks of blockskitchin hold for Bitcoin holders.

Considering the three obvious ideas, it is possible to predict most possible events. The first case, superficial or soft-fork, which is executed by users that is called user activated soft fork, or in short (UASF), occurs on August 1st. The second case, Segwit2x, has begun since mid-July and will continue until October, and the recent Bitcoin ABC, or (UAHF), which will probably be used in August.

With each of these modes, different things may happen, but the chances of unbundling are the greatest risk in the subject. Chain split means the division of the main chain into two other chains, and this happens when there is no collective agreement when upgrading.

This means that a specific section of the Bitcoin communication network will act unlike the program and will not consider the rules and protocols of the other party.

This has happened to Ethereum, and there is now another blockade called Ethereum Classic. The same chain is saved, but the first and most important thing that each Bitcoin holder and both sides of the chain in case of rescue should be aware that if two blocks of blocks split over time, keep their private keys After that, you can use tokens on both sides of the chain.

The probability of a large price fluctuation during the chain separation
Not only does this not double the value of your token, but if you do not place your token in a chain that proves more work, it will likely be worthless. Being in the smaller chain, given the current level of hardness in the network, will be a big problem for the extractors, and the chain will require at least an acceptable level of support for survival. The new or old chains each have a chance to be longer than the other, and each chip will have a certain amount of processing power. Chain split times, things like fluctuations and rising prices, and chaos and confusion are likely to be there.

The best way to ensure the security of your property and property is to ensure ownership and access to private keys and ensure that you have full access to information and backup. If you own the keys to this password, you do not need to do anything special and you just need to wait and wait to clarify the situation.

A clear part of the story: Storing Bitcoin in trading centers will weaken your position
By placing your bitcoin in a currency exchange or keeping it by the intermediary who owns your private key, during or at the end of the event, your bitcoin's destiny will depend on their decision. People ask questions about issues when it comes to chain-related events. It is almost clear that you will inevitably surrender how they will control the situation. Excessive exchanges and confusion can stop trading. During this period, the possibility of deposit and withdrawal of accounts in trading platforms will be very low. Some of the largest service providers, such as Exchange and Bitcoin brokers, may be offline and thus no longer have access to your Bitcoin. The point is that if you keep your inventory with them, then you have to act in accordance with the law and their instructions, and yet the result may not be interesting.

Assign a time to secure your private keys and backup your wallet
During these few weeks, people will have the time to ensure that they have support versions and have unrestricted access to resources. You can also keep the inventory out of stock. While maintaining the full control of the Bitcoin account is by far the best choice for individuals, many people are willing to give their bitcoin control to other people. Regardless of whether the two parts of the chain occur, with no, giving all your authority to the services or other businesses, to control the Bitcoin account will always undermine your position against them.

In addition, it is possible for the bitcoin community members to reach an agreement, in which case the chain will remain constant. However, in order to observe the precautionary aspect, in the end, there are a few short stories, and everyone will ensure that the key is kept private and that the backup is properly maintained in the next few months.

Keep the private key secure

• Back up your wallet, its associated files and the encrypted wallet.
• Make sure that your wallet software or operating system is up to date.
• Ensure that you have full access to the password or phrases that reminds you of it or write down somewhere.
  Take your bitcoin out of the currency exchange and transfer it to your wallet. Then, repeat steps 1 through 3.

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