Coinbase has come out and eluded to supporting forks, but now they have officially announced support for Bitcoin forks and other forks.
Cryptocurrencies like Bitcoin can be “forked.” In simple terms, this either creates two versions of a coin or updates one version.
Sometimes new coins are created this way.
In other cases coins can be “airdropped” to people who hold existing coins for a myriad of reasons.
This section includes information on cryptocurrency forks and airdrops.
In cryptocurrency, the term “airdrop” is used to describe a type of distribution event for a cryptocurrency where tokens are distributed to existing wallets.
Monero (XMR) is forking to create MoneroV (XMV). The snapshot block is 1564965. Anyone in Monero in a wallet where they control their private keys before the snapshot will own MoneroV.
The Waves platform is doing a Bitcoin Cash airdrop on February 22, 2018. To qualify for the airdrop, store Waves Community Tokens (WCT) on a waves wallet with the letters “B”, “C” and “H” in it.
There was a lot of skepticism over the Litecoin Cash fork (LCC). However, the fork ended up being real and the price of LCC has already hit $5.50 netting Litecoin (LTC) holders $55 per LTC held. Even as I write this the price is rising.
The Litecoin cash fork is slated to happen at block 1371111 (on February 18, 2018). There has been a lot of FUD and speculation, just like with any other fork.
There is a Callisto (CLO) airdrop planned for Ethereum Classic (ETC) holders. A snapshot will occur at block 5500000. Those who held ETC during the snapshot will get CLO coins at a 1:1 ratio during the airdrop.
Litecoin is being forked and Litecoin Cash (LCC) is being created. The Litecoin Cash fork will occur at block 1371111 on Sunday Feb. 2018.
Coinomi announced on its Twitter that it will be supporting the cryptocurrency Zclassic as well as the Zclassic Bitcoin fork “Bitcoin Private.”
Between 2017 and 2018 there at least 20 Bitcoin forks planned, if not more. Each fork potentially nets Bitcoin holders “free coins” based on their current Bitcoin holdings.