Crypto Spoon: Spawning New Coins from Existing Chains

Spoon is a metaprotocol that exists on top of a blockchain.

What is Spoon?

Spoon has its own characteristics and intentions, unlike the more common hard fork. Although most hard forks are controversial, some can be used to work together. Hard fork uses the same information as an existing chain. A spoon is not only copying the balance for its own purposes, but also copies it for its own use with a different custom code. Moreover, hard forks have been created to take control of the existing platform and steal market share. Spoon improves technical prowess of the projects whose balances are copied.

Spoon is a type of blockchain fork in which a new cryptocurrency inherits the balances of an existing currency. It allows the new project to add its function to the old software and allow users of the existing protocol to participate in it.

Projects arise to attract users and developers of an existing platform. However, they are not very common in the blockchain industry because their implementation is not exactly user-friendly.

Because of its large user base and developer community, Ethereum is the most popular protocol for “spooning”. Similar examples are Athereum and Cosmos, both of which have made copies of the Ethereum blockchain to register account balances in their new networks. Naturally, these networks differ from the core Ethereum network and also make their own improvements/features. However, despite copying balances, these companies have their own tokens and do not use ETH.