Did the Recent Bitcoin Hard Fork Just Create Money Out of Thin Air?

The Bitcoin Blockchain underwent a hard fork on August 1, 2017, at 12.37 PM UTC with the block number 478558 being the last common block between the two chains. A hard fork results in splitting of the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software, unlike a soft fork, which is a change to the software protocol where only previously valid blocks/transactions are made invalid. In Bitcoin’s case, this event was a culmination of conflicting approaches towards Bitcoin scaling among fractions of the community, the details on which have been widely written about and shall not be the focus of this piece.

How did the fork impact Bitcoin holders?

Post fork, the nodes and by extension wallets exist on both the blockchains. Users holding private keys to their wallets can access their Bitcoin Cash (BCH) and Bitcoin (BTC), while in all other cases, it depends on the private key holding entity’s discretion on whether or not to provide BCH wallets on their platform. Among prominent cryptocurrency exchanges,

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