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What happens on the first day of August is that the coin is going to fork. But it is not a 'soft fork', but it is a 'hard fork'.
Difference between soft and hard bifurcation
A bifurcation, for those who do not know it, is an update of the 'rules' of Blockchain, the technology behind cryptones. The difference between these terms is that the first one (soft fork) is an update that does not affect the operation; a hard fork, on the other hand, implies accepting the changes we want or not if we want to continue with the official development
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That is, we can continue with the above rules, but would not be considered as the original currency. An example of a hard bifurcation is what Ethereum suffered in 2016: the old rules went on to form Ethereum Classic (ETC) and the new ones remained Ethereum (ETH) per se. Each of the two currencies are different and therefore each has its community and its market value.
