What is fork;
The word is a common word in cryptocurrency that most people are just hearing for the first time. A fork in cryptocurrency simply means an event in blockchain where by there is duplicate of blocks due to change in protocol. These means that during a fork, the blockchain spread into two path due to the transaction history having a new rule that decide on the transaction of the blockchain. Fork is mostly common with the Bitcoin block, although other blocks can also undergo fork. When ever a fork occurs, the two new path created can function independently. There are two types fork, the Hard fork and the soft fork
What is hard fork?
Most of us are hearing the word hard-fork for the first time and I am sure the recent hard-fork that occurred recently made some people realize that their is a word called hard-fork.
A hard-fork in cryptocurrency is the creation of a new chain that has exactly the same history with the old chain but with an entirely different protocol which must be accepted by the whole chain network. For example the recent hard-fork that occurred where Bitcoin-cash Abc added A new rules to the blockchain which is called the coinbase rule where by every miner will be paying a given amount of Bitcoin-cash for every Bitcoincash that was mined. During
What is a soft-fork
A soft-fork in cryptocurrency simply means protocol adaptation to the current conditions in a given blockchain or crypto. A soft fork is the opposite of hard fork, such that when ever a soft fork occurs, a duplicate of blocks does not occur in the chains, but the new protocol are just there to upgrade the old protocol.Old nodes will continue to recognize new blocks as valid in a soft-fork.
Difference between hard-fork and soft-fork
Fork are very important in cryptocurrency today.
