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November 11, 2017, 04:44:30 PM |
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Blockchain forks have nothing to do with private blockchains. Anyone can create a blockchain fork (and thus a new cryptocurrency) by deciding on some activation parameter (e.g. block height after X) and changing a consensus rule in some backwards incompatible way (e.g. raising the maximum block size). Then they write or modify a full node software to follow these new consensus rules (which includes the activation parameter). When the activation parameter is met, if the people making the fork have enough hash rate, they will create a blockchain split and there will then be two branches of the blockchain. One will be for Bitcoin and the other for the altcoin that was created.
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