** Understanding Ethereum Villas and Private Keys: I get coins on both villas if BTC is Blockchain.info?
In the case of bitcoin division or hard fork, the situation can be complex, especially if you have cryptocurrencies like Ethereum. Many people mistakenly believe that both villas will receive coins by keeping blockchain services such as blockchain.info. However, this is not entirely accurate.
What happens under a fork?
The fork occurs when two different versions of the cryptocurrency protocol are created, resulting in two separate branches: the original and the new (or alternative). This can be done for a variety of reasons, such as disagreements for certain changes or new development goals. Under the fork, each branch continues to work independently, and users holding coins on one branch do not automatically receive coins on the other.
Private keys vs. Public titles
You may be wondering why keeping your private keys would change when we receive coins on both villas. The most important concept here is that
public addresses are used for transactions , while
private keys are used to control and manage user tools .
When it keeps Blockcoin (BTC) on Blockchain.info, Blockchain service manages the private key, allowing you to control and manage your wallet. However, this does not pass on the ownership of the BTC. Instead, create a copy of existing data in the blockchain, which is then stored on the private key.
** I get coins on both villas if BTC is Blockchain.info?
In short: no. Keeping private keys on blockchain.info continues to mean that there was no “yourself” for BTC. Direct and manage a copy of existing data only on the blockchain.
If you have a bitcoin distribution or a hard fork in Ethereum (or any other cryptocurrency), you can expect to keep two separate versions of the protocol, each with its own private stick. However,
still does not get coins on both villas if you keep your private key on blockchain.info. Basically, it would hold more wallets with different private keys.
** What happens when my ethhereum (ETH) wallet is on blockchain.info?
If you have an Ethereum (ETH) wallet on Blockchain.info and you decide to participate in a fork, you can happen here:
- There will still be the original Ethereum wallet on blockchain.info.
- If you have a fork in the protocol, you can get new private keys that reflect the changes made during the fork.
- However, these new private keys do not automatically transfer ownership of ETH. Instead, a new copy of existing data is created in the blockchain.
In summary, keeping a private key, blockchain.info does not give automatically access to both villas when the Ethereum (or any other cryptocurrency) has a shared or hard fork. You need to manually update your wallet and get the new private keys for each branch.
