Are forks is important to the market or its a disadvantage!

[masterrex]

I was wondering about the forking events that was made before including present, Is it really useful to the crypto industry or is it only a form of money making scheme? as we all know that fork is only a copy from the original or the existing blockchain so in short it's already existed that's why its nothing new about it, the question is how can it be useful when its already existed long before? is it important or is it a disadvantage?

[OptimusPrime]

There is nothing important about it, rather it tends to have more disadvantages than good. Point is, many forks are just so useless, some individuals just initiate a fork for mere selfish reasons. Just research of the previous forks and you will understand what I mean

[Fenix]

I do not agree with the opinion that forks of coins, including forks of bitcoin, are only a copy of them and do not contain anything new. Forks of Bitcoin were mainly created to improve the functionality of Bitcoin - scalability, to make its transactions fast and cheap. Bitcoin cash, Bitcoin SV and its other forks do have better characteristics than the original Bitcoin. It’s even hard to argue with that. Therefore, I believe that forks are needed for the cryptocurrency market, since in this way the cryptocurrency is being improved.

[Luckyperson21]

Forks give birth to good coins. Although there are some dramas when the fork wants to happen. but look at the results now. prices of BSV, BTG, BCH, BCD go up, many people get 100% profit. I'm sure many people are enjoying the profits now.

[Zed0X]

There are different types of forks but with the content of your post, I guess you are only referring to hardforks where two projects/teams have to split because they can no longer agree on certain protocols. It's not entirely a copy of the other because they intend to implement changes on the network. Are these good for the crypto market, that entirely depends on the project and the crypto community. Let's take take the split between ethereum classic and ethereum for example, I think it did well on the market overall.   

[vaysar]

The #DevelopmentTeam  of any blockchain constantly improves it and makes corrections. To fix minor bugs there is softfork - soft change of program code with backward compatibility with data created before softfork - for example, SegWit. But there are situations when hard code changes are needed - then hardfork occurs and backward compatibility with the old software is lost and a new cryptocurrency is created that functions on completely different principles - for example, Bitcoin Cash. Forks do not occur at the request of developers, but if necessary.

[LogiC]

Would you blame part of #DevelopmentTeam  if they dont agree on some plan on the network or some changes be made? If original plan was not appropriate already some will want an upgrade or different path to conserve the usefulness of such platform and that is depend on them. Community will be the judge of those forks if the splitting is really necessary. BSV is one of the worst fork IMO. No path and no glory.

[tonymillions84]

the early forks were at an advantage to holders but recent forks has no meaning and are baseless. they have no effects to the market. the current BSV And BCH fork was a dramatic fork and all we can see are two coins fighting for the top spot in the market instead focusing on the product and objectives.

[aiviaa485]

HardFork depends on the developer, whether Hardfork will bring up something good or not, an example like this:

1. Hardfork raises new coins from previous coins.
2. Hardfork is used to create the latest transaction paths from a coin.
3. Hardfork is used to make new applications that allow a few coins to be burned and end up with "hardfork" instead of the word "burning".

This is only part of what I know of cryptocurrency and everything has its own control, this can also raise the price of the coin or even reduce it.

[zendicator]

There are some forks used to make money easily than to make their own coin. However, some of the fork coins are useful since it improves the performance of another coin. Example is gochain, it is a fork of ethereum. Gochain is a super fast and has a low fee transactions.