forks are more dramatic than scary. as a matter of fact if you used the word "fork" before 2017 nobody even knew what you meant and even if a fork happened (which has happened multiple times in bitcoin and other coins before 2017) nobody would have minded or even remembered it happening. but ever since the drama of August 1 2017 with bitcoin and all the FUD that was spread, people are scared of forks.
When two different blockchains exist, only one can ultimately be correct.thus, coin transactions found on the wrong blockchain could ultimately be lost
this statement is a clear result of those FUDs that I mentioned above. when a fork happens there doesn't have to be 2 blockchains. look at SegWit fork that took place last year. there was no 2 chains. there was one chain, 100% of the network switched to the new chain and continue. a successful fork with majority's support.
During a fork event people are not able to make any transactions until that fork can be resolved.
wrong. people are able to make transactions the only thing that changes is that the receiving parties have to wait for a bigger number of confirmation during a fork to be saf
er.
Crypto based companies will bear huge losses due to down time of that particular cryptocurrency.
same thing as above.