Fork
Tue, Apr 15A fork, in the context of blockchain technology, refers to a modification of a blockchain's underlying protocol or software, initiated by a developer associated with that blockchain. Essentially, it is a software upgrade!
Occasionally, developers implement changes to a blockchain, which may include adding new functionalities, fixing security vulnerabilities, creating entirely new cryptocurrencies, or altering the consensus protocol that dictates how blocks are generated and validated on the blockchain.
Forks facilitate these changes by establishing a second blockchain (in the case of a hard fork), which is a duplicate of the original blockchain but incorporates the new modifications.
In contrast, soft forks involve minor changes that do not result in a completely separate blockchain. Nodes that undergo a soft fork remain compatible with those that do not.
On the other hand, a hard fork results in the existence of two distinct blockchains operating in parallel. These two chains share common data and transaction history up until the point of the hard fork.
After a hard fork, newly mined blocks will only be found on the blockchain where they were validated and created. In the case of hard forks, any blocks generated using the previous protocol will not be compatible with the newly upgraded blockchain.
Software modifications can be minor, as seen with soft forks. However, proposed upgrades can also significantly change the original rules governing a blockchain's operation, which is when they are classified as hard forks.
Forks are essential for enabling decentralized blockchains to implement changes, as there is no central authority overseeing all aspects of blockchain development and evolution. The blockchain community, which includes developers, node operators, and miners, plays a crucial role in this process.
For instance, Bitcoin Cash and Bitcoin Gold emerged from the original Bitcoin blockchain due to a hard fork.
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