Software forks</strong></a> arise when developers clone the codebase of an actual prototype and start their own separate development on top of it. As an outcome, one or more different projects are separated from the initial, \"parent\" project.</p>\n<p>These splits happen for a few different reasons. One of which is that occasionally, developers insist that a cryptocurrency is decent in most aspects, but could benefit from a few changes. For instance, <a href=https://www.bitdegree.org/"/crypto/buy-litecoin-ltc/">Litecoin (LTC)</strong></a> split from <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> to enable quicker block generation time, increase the total number of coins, and change the hashing platform.</p>\n<p><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/dogecoin/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>Dogecoin (DOGE)</strong></strong></a>, on the other hand, is simply a joke. 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However, colocation in <strong>high-frequency trading (HFT) </strong>is a term used to describe a specific space within a stock exchange's data center.</p>\n<p>The main goal of colocation, in the case of HFT, is to house the computers of HFT traders and companies in the same place where the stock exchange servers are stored. To put it another way, HFT traders benefit from the fact that their computers and the stock exchange servers are very close to each other.</p>\n<p>Because of that,&nbsp;traders have <strong>access to current market pricing</strong> <strong>ahead of the general public</strong>. However, the difference is only in milliseconds. Though despite that, companies still spend a huge amount of money on such a benefit.</p>\n<p>In the last decade, stock traders started building larger data centers near major stock exchange computers. This is probably happening due to the increasing demand for colocation services.</p>\n<p>Though apart from trading, colocation is also used to talk about <strong>specialized colocation centers. </strong>Such data centers rent out storage, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-bandwidth/">bandwidth, professional hardware, and other similar services. For institutions that demand extensive security protections, these data centers include cages, open racks, and private suites.</p>\n<p>Lastly, it should also be noted that colocation is really useful for small companies. This is because colocation provides them with an essential infrastructure, which means that companies don't need to start their businesses from nothing.</p>","level":"easy","meta_title":"What is Colocation? Definition & Meaning | Crypto Wiki","meta_description":"Colocation meaning: Colocation - a specialized space in a stock exchange's data center that is shared with other parties, such as high-frequency traders.","meta_keywords":null,"language":"en","created_at":"2022-05-18T05:27:08.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-colocation"},"prevSection":{"id":872,"original_id":null,"author_id":40,"translator_id":null,"title":"What is CryptoPunks?","slug":"what-is-cryptopunks","section":"C","keyword":"CryptoPunks","status":"published","definition":"is a popular Ethereum-based non-fungible token (NFT) collection.","content":"<p>The world of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">non-fungible tokens (NFTs)</strong></strong></a> has been rapidly growing in popularity over the past few years. The growth&nbsp;was influenced by selling and buying NFTs on Ethereum, which began in December of 2017, with CryptoKittens. Since then, there are millions of tokens that are currently existing on the network. CryptoPunks are one of the most well-known Ethereum-based NFT&nbsp;collectibles.&nbsp;</p>\n<p>Every image showcases a different punk that can be an ape, a <strong>robot</strong>, an alien, and so on. Every punk is unique and can even look similar to particular celebrities. The collection was created back in 2017 by John Watkinson, Andy Milenius, and Matt Hall. It consists of <strong>10,000 24x24 pixel images</strong>.</p>\n<p>Initially, it was an experiment performed by Larva Labs (the creator of CryptoPunks). Therefore, the collection was completely free. At that time, the standard for NFTs (<a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-721/">ERC-721)&nbsp;didn't exist yet.</p>\n<p>The team behind CryptoPunks had no clue that their collection would become the most well-known name in the NFT industry. When Larva Labs produced CryptoPunks, <strong>9,000</strong> of them were taken by Ethereum wallet owners, whereas the rest were kept by Larva Labs itself.</p>\n<p>CryptoPunks were developed with a similar purpose as CryptoKitties. This means that they anticipated revealing the possibilities of non-fungible tokens on Ethereum <strong>using ERC-721</strong>. CryptoKitties, on the other hand, showcased the possibilities with <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-223/">ERC-223&nbsp;tokens.

/n

NFT market and <strong>CryptoPunks</strong> faced a huge growth in their value&nbsp;in 2021. In the first six months, the estimated volume for 2021 was $2.5 billion. Multiple NFTs were sold for $1 million each.</p>\n<p>Currently, CryptoPunks is <strong>the most desired NFT collection</strong>. Multiple NFTs are sold for millions of dollars. After all, CryptoPunks is one of the first NFT collections.</p>","level":"easy","meta_title":"What is CryptoPunks? Definition & Meaning | Crypto Wiki","meta_description":"CryptoPunks meaning: CryptoPunks - is a popular Ethereum-based non-fungible token (NFT) collection.","meta_keywords":null,"language":"en","created_at":"2022-04-07T05:40:44.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-cryptopunks"},"currentChapter":"C","currentSection":"what-is-chain-split","chapterTitle":"C","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-chain-split","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Handbook Cover Page
Crypto Terms: Letter C

What is Chain Split?

Chain Split MEANING:
Chain Split - Chain splits are cryptocurrency forks that relate to the separation of a single initial coin into many separately managed initiatives.
Easy
1 minute

Let's find out Chain Split meaning, definition in crypto, what is Chain Split, and all other detailed facts.

Chain splits are essentially a split in the blockchain that will result in a few versions of the initial chain.

Software forks arise when developers clone the codebase of an actual prototype and start their own separate development on top of it. As an outcome, one or more different projects are separated from the initial, "parent" project.

These splits happen for a few different reasons. One of which is that occasionally, developers insist that a cryptocurrency is decent in most aspects, but could benefit from a few changes. For instance, Litecoin (LTC) split from Bitcoin (BTC) to enable quicker block generation time, increase the total number of coins, and change the hashing platform.

Dogecoin (DOGE), on the other hand, is simply a joke. It is a fork of Litecoin that got the idea from an internet meme and managed to reach a market capitalization of approximately $2 billion.

Another factor that might cause a chain split is moral dissimilarities. For example, Bitcoin Cash was separated from Bitcoin due to divergent views about how to grow the coin for a broader customer base.

Because of the debate over whether cryptocurrency developers should be able to alter data stored on the blockchain in an effort to return lost coins to their previous owners, Ethereum Classic (split from Ethereum) was formed.

A big amount of cryptocurrencies were launched as open-source projects, specifically in the early years. Because of this, it is usually overly uncomplicated to fork a project, even for those developers who seem to lack the skills to develop their own coin. A few of the most popular cryptocurrencies today are forks or forks of several parent projects.
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