The hard fork bitcoin

Forks may be initiated by developers or members of a crypto community who grow dissatisfied with functionalities offered by existing blockchain.
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For large-scale rule changes to virtual currencies in particular, maintaining backward and forward compatibility is technically difficult, which makes a hard fork necessary.

Bitcoin Cash Has Split Into Two New Blockchains, Again

If backward and forward compatibility can be maintained, a soft fork is performed instead. The first type of hard fork occurs when one of the two virtual currencies resulting from a hard fork virtually disappears. As a result, the other virtual currency that lost support will virtually disappear. It can be said that this type of hard fork occurs with a high degree of consensus from the whole community network participants.

Definition & Examples of Bitcoin Forks

For example, Ethereum ETH has a development roadmap with planned hard forks. In October , Ethereum had hard fork called Byzantium which occurred with a majority consensus from the Ethereum community. The other type of hard fork occurs where the hard fork causes divergent virtual currencies to exist.

If a hard fork is implemented in this situation, the communities will split with each one supporting their own divergent virtual currency. The last time a Bitcoin hard fork was attempted, it attracted vicious debate. Several big Bitcoin businesses and miners rallied around a hard fork called Segwit2x in Rather than attracting debate, the community and developers will most likely agree it is a change that needs to be made. After all, anyone who chooses not to upgrade their software will eventually be running a dead Bitcoin chain.

Fork (blockchain) - Wikipedia

The bug fix is unlikely to be a controversial hard fork change. In conversation with CoinDesk, Gustavo J. Read more: Hard Fork vs Soft Fork. Bringing to mind squishy cartilage hardening into bone over time, protocol ossification is the idea that Bitcoin will grow harder to change as it matures. PC World.


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