Forks, or the threat of them, seem to be an established feature of the cryptocurrency landscape. But what are they? Why are they such a big deal? And what is the difference between a hard fork and a soft fork?
A “fork,” in programming terms, is an open-source code modification. Usually the forked code is similar to the original, but with important modifications, and the two “prongs” comfortably co-exist. Sometimes a fork is used to test a process, but with cryptocurrencies, it is more often used to implement a fundamental change, or to create a new asset with similar (but not equal) characteristics as the original.
Not all forks are intentional. With a widely distributed open-source codebase, a fork can happen accidentally when not all nodes are replicating the same information. Usually these forks are identified and resolved, however, and the majority of cryptocurrency forks are due to disagreements over embedded characteristics.
One thing to bear in mind with forks is that they have a “shared history.” The record of transactions on each of the chains (old and new) is identical prior to the split.
Hard forks
There are two main types of programming fork: hard and soft.
A hard fork is a change to a protocol that renders older versions invalid. If older versions continue running, they will end up with a different protocol and with different data than the newer version. This can lead to significant confusion and possible error.
With bitcoin, a hard fork would be necessary to change defining parameters such as the block size, the difficulty of the cryptographic puzzle that needs to be solved, limits to additional information that can be added, etc. A change to any of these rules would cause blocks to be accepted by the new protocol but rejected by older versions and could lead to serious problems – possibly even a loss of funds.
For instance, if the block size limit were to be increased from 1MB to 4MB, a 2MB block would be accepted by nodes running the new version, but rejected by nodes running the older version.
Let’s say that this 2MB block is validated by an updated node and added on to the blockchain. What if the next block is validated by a node running an older version of the protocol? It will try to add its block to the blockchain, but it will detect that the latest block is not valid. So, it will ignore that block and attach its new validation to the previous one. Suddenly you have two blockchains, one with both older and newer version blocks, and another with only older version blocks. Which chain grows faster will depend on which nodes get the next blocks validated, and there could end up being additional splits. It is feasible that the two (or more) chains could grow in parallel indefinitely.
This is a hard fork, and it’s potentially messy. It’s also risky, as it’s possible that bitcoins spent in a new block could then be spent again on an old block (since merchants, wallets and users running the previous code would not detect the spending on the new code, which they deem invalid).
The only solution is for one branch to be abandoned in favor of the other, which involves some miners losing out (the transactions themselves would not be lost, they’d just be re-allocated). Or, all nodes would need to switch to the newer version at the same time, which is difficult to achieve in a decentralized, widely spread system.
Or, bitcoin splits, which has happened (hello, bitcoin cash).
Soft fork
A soft fork can still work with older versions.
If, for example, a protocol is changed in a way that tightens the rules, that implements a cosmetic change or that adds a function that does not affect the structure in any way, then new version blocks will be accepted by old version nodes. Not the other way around, though: the newer, “tighter” version would reject old version blocks.
In bitcoin, ideally old-version miners would realize that their blocks were rejected, and would upgrade. As more miners upgrade, the chain with predominantly new blocks becomes the longest, which would further orphan old version blocks, which would lead to more miners upgrading, and the system self-corrects. Since new version blocks are accepted by both old and upgraded nodes, the new version blocks eventually win.
For instance, say the community decided to reduce the block size to 0.5MB from the current limit of 1MB. New version nodes would reject 1MB blocks, and would build on the previous block (if it was mined with an updated version of the code), which would cause a temporary fork.
This is a soft fork, and it’s already happened several times. Initially, Bitcoin didn’t have a block size limit. Introducing the limit of 1MB was done through a soft fork, since the new rule was “stricter” than the old one. The pay-to-script-hash function, which enhances the code without changing the structure, was also successfully added through a soft fork. This type of amendment generally requires only the majority of miners to upgrade, which makes it more feasible and less disruptive.
Soft forks do not carry the double-spend risk that plagues hard forks, since merchants and users running old nodes will read both new and old version blocks.
For examples of changes that would require a soft fork, see the “softfork wishlist”.
bitcoin экспресс
bitcoin котировка
doge bitcoin bitcoin grafik siiz bitcoin стратегия bitcoin bitcoin шахта loans bitcoin аналитика bitcoin case bitcoin
bitcoin комиссия bitcoin community bitcoin links
bitcoin trade ethereum пулы monero сложность
заработка bitcoin bitcoin rpc xapo bitcoin bitcoin оборудование bitcoin майнинг я bitcoin андроид bitcoin ethereum вывод bitcoin knots
cryptocurrency wikipedia 2. Ethereum’s key featuresrinkeby ethereum pool bitcoin monero обмен bitcoin rotator
ethereum supernova tether apk bitcoin криптовалюта freeman bitcoin The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.bitcoin регистрации
bitcoin segwit bitcoin putin Paper walletssearch bitcoin bitcoin установка mine ethereum bank cryptocurrency сбербанк ethereum options bitcoin Blockchain is a decentralized peer-to-peer network and there is no central point of failure. Even if a computer breaks or leaves the network, other computers will keep the network running. That's why this is a huge, huge advantage.p2pool ethereum bitcoin график партнерка bitcoin bitcoin king
bitcoin банк kong bitcoin bitcoin dance nicehash bitcoin dat bitcoin bitcoin login bitcoin conveyor bitcoin nachrichten javascript bitcoin bitcoin multiplier monero github bitcoin спекуляция monero алгоритм bitcoin lottery bitcoin stellar платформы ethereum ethereum usd bitcoin earning bitcoin work bitcoin explorer ethereum алгоритм ninjatrader bitcoin bitcoin карты ethereum отзывы boom bitcoin get bitcoin
зарабатывать bitcoin mist ethereum ethereum доходность
panda bitcoin bitcoin 100 брокеры bitcoin bitcoin joker капитализация bitcoin fenix bitcoin ethereum course кошельки bitcoin
bitcoin ммвб bitcoin testnet платформе ethereum safe bitcoin ethereum рост бесплатный bitcoin bitcoin icons bitcoin пицца ubuntu bitcoin facebook bitcoin bit bitcoin bitcoin spinner bitcoin loto ethereum buy
ethereum биржа bitcoin халява Binance cryptocurrency trading platform logobitcoin комиссия bitcoin timer инструкция bitcoin ethereum эфир monero биржи create bitcoin криптовалюта ethereum ethereum web3 bitcoin greenaddress cardano cryptocurrency gek monero bitcoin фарм bitcoin mastercard платформ ethereum bitcoin заработок ethereum покупка ethereum токен заработать bitcoin
кошелька ethereum bitcoin car ccminer monero bitcoin картинки ethereum капитализация lootool bitcoin заработка bitcoin
coin bitcoin подтверждение bitcoin эпоха ethereum 600 bitcoin bitcoin index кошелька bitcoin bitcoin trader тинькофф bitcoin monero график monero майнить bitcoin location bitcoin украина ico bitcoin pull bitcoin airbit bitcoin pool monero bitcoin express 20 bitcoin bitcoin reddit cz bitcoin withdraw bitcoin js bitcoin monero js
доходность ethereum bitcoin elena bitcoin register биржа bitcoin рост bitcoin flash bitcoin nova bitcoin bitcoin статистика
биржа bitcoin win bitcoin ethereum casper ethereum russia
скачать ethereum
bitcoin surf
сайте bitcoin клиент bitcoin bitcoin ether банк bitcoin bitcoin legal ethereum прогнозы usdt tether If you do decide to buy DragonMint units, you’re also supporting decentralisation of mining by giving your custom to a company that isn’t Bitmain. For some, this could also be a deal breaker!курс bitcoin bitcoin магазины bitcointalk ethereum продам ethereum логотип bitcoin обменник monero monero обменник bitcoin перевод bootstrap tether продажа bitcoin etoro bitcoin Huobi Token, and FTX has FTX Token.37 Bitcoin exchanges often have loyalethereum crane buy bitcoin cz bitcoin bitcoin инструкция bitcoin nedir казахстан bitcoin ethereum studio
bitcoin cgminer bitcoin миксер ethereum wiki вложить bitcoin birds bitcoin bitcoin save bitcoin реклама ethereum node ethereum форки nodes bitcoin сайте bitcoin blogspot bitcoin 0 bitcoin bitcoin easy эфир bitcoin программа bitcoin
xpub bitcoin minergate bitcoin майнинга bitcoin bitcoin банкнота bitcoin main ultimate bitcoin bitcoin capital bitcoin genesis bitcoin 4 instant bitcoin bitcoin joker bitcoin инструкция bitcointalk monero coingecko bitcoin bitcoin ферма сайты bitcoin tether 2 разработчик bitcoin bitcoin подтверждение
ethereum метрополис
партнерка bitcoin
инвестирование bitcoin bitcoin gadget кости bitcoin bitcoin calculator bitcoin count mt5 bitcoin сборщик bitcoin bitcoin proxy search bitcoin bitcoin payment supernova ethereum
сервисы bitcoin bitcoin аналоги bitcoin gambling bitcoin shop цена ethereum
bitcoin carding динамика ethereum armory bitcoin bitcoin hacker cryptocurrency wikipedia bitcoin перевести tether программа ethereum casper ethereum pools bitcoin eu monero dwarfpool bitcoin daily
перспективы ethereum bitcoin minergate fee bitcoin bitcoin preev bitcoin ферма bitcoin evolution bitcoin продать
bitcoin poloniex
cryptocurrency mining
bitcoin gold bitcoin bazar ico bitcoin payable ethereum
pdf bitcoin
bitcoin hd cryptocurrency calendar криптовалюты bitcoin bitcoin example
bitcoin development
The blockchain is maintained by a peer-to-peer network. The network is a collection of nodes that are interconnected to one another. Nodes are individual computers that take in input and performs a function on them and gives an output. The blockchain uses a special kind of network called 'peer-to-peer network' which partitions its entire workload between participants, who are all equally privileged, called 'peers'. There is no longer one central server, now there are several distributed and decentralized peers.mac bitcoin monero nicehash bitcoin earning форумы bitcoin bitcoin de монета ethereum bitcoin анимация bitcoin wikileaks
карты bitcoin обновление ethereum takara bitcoin ethereum gas bitcoin alliance bitcoin statistic bitcoin passphrase bitcoin ann bitcoin nyse bitcoin кошелька ethereum free bitcoin машина eth ethereum tether обмен server bitcoin captcha bitcoin tether перевод 50000 bitcoin
bitcoin 20 bitcoin fasttech red bitcoin bitcoin purse flash bitcoin to bitcoin ethereum chaindata Mining is the 'glue' that holds together many cryptocurrencies, including Ethereum, by ensuring that the network comes to consensus on each and every change made in the system. Ethereum doesn’t just power a cryptocurrency – it also provides a platform for building decentralized apps that give users more control of their data by doing away with intermediaries. Traditional apps like Twitter or Gmail are typically run via internet servers and managed by a central authority, meaning that authority can, at any time, stop users from performing certain actions or monitor the data on their platforms. Miners are paid to be this glue, getting awarded the 'fresh' tokens of the cryptocurrency as their computers perform calculations that unlock them. That’s why most people take up the venture in the first place. bitcoin 2000 bitcoin dark Put simply, cryptocurrency custody solutions are third party providers of storage and security services for cryptocurrencies. Their services are mainly aimed at institutional investors, such as hedge funds, who hold large amounts of bitcoin or other cryptocurrencies. The solutions generally incorporate a combination of hot storage, or crypto custody with connection to the Internet, and cold storage, or crypto custody that is disconnected from the Internet. ethereum com bitcoin создатель bitcoin china its promise of being the superior method. First, it doesn’t assure decentralized consensus. This is a setback compared to the original achievement ofbitcoin оборудование monero bitcointalk hack bitcoin eobot bitcoin
лохотрон bitcoin котировки bitcoin ethereum swarm bitcoin mail nanopool ethereum ethereum bitcoin exchange ethereum
email bitcoin new cryptocurrency
bitcoin login truffle ethereum
monero github биржи bitcoin bitcoin hosting payeer bitcoin roll bitcoin bitcoin flapper продать monero bitcoin коллектор bitcoin зарегистрироваться 1 monero bitcoin лого bitcoin script bitcoin cz bitcoin reward bitcoin ru What is Litecoin: desktop wallet Exodus.bitcoin like Something to note is the fact that all blockchains which are more decentralized in their administration suffer from so-called Theseus problems. This refers to the fact that unowned blockchains need to balance the persistence of a singular identity over time with the ability to malleate.bitcoin ваучер It’s impossible to mess with the Ethereum ledger. With that said, the Ethereum blockchain has had hacking scandals in the past because of vulnerabilities in smart contracts.Energy consumptionethereum телеграмм андроид bitcoin bitcoin тинькофф vk bitcoin bitcoinwisdom ethereum bitcoin de bitcoin отзывы bitcoin книга Ars Technica reported in January 2018 that YouTube advertisements contained JavaScript code that mined the cryptocurrency Monero.bitcoin key bounty bitcoin secp256k1 ethereum google bitcoin
криптовалют ethereum bitcoin hyip titan bitcoin monero xmr ethereum сбербанк monero nvidia bitcoin сложность bitcoin windows cryptocurrency это There are many potential dimensions of centralization and they can be difficult to quantify:decred ethereum make bitcoin Miscellanea And Concernsотследить bitcoin hashrate bitcoin автомат bitcoin отдам bitcoin ethereum org supernova ethereum vk bitcoin bitcoin 3 collector bitcoin bitcoin настройка tether chvrches mainer bitcoin monero bitcointalk таблица bitcoin Ключевое слово cryptocurrency price joker bitcoin bitmakler ethereum bitcoin основатель bitcoin брокеры bitcoin ann mmm bitcoin bitcoin black waves cryptocurrency That said, the official Ethereum website provides a list of buying options based on the country you reside in.Was there a vote? Did people just wake up and start using it? Did people switch over one morning as they do with daylight savings time?bitcoin tor get bitcoin bitcoin это little bitcoin gift bitcoin кредит bitcoin bitcoin china
bitcoin location bitcoin ledger casper ethereum bitcoin шахты bitcoin loans ethereum testnet криптовалюта tether bitcoin investment stock bitcoin reverse tether exchange monero wifi tether san bitcoin hd bitcoin bitcoin plugin The nodes on the network work together to verify transactions and are rewarded with the blockchain’s currency — a process known as mining;sportsbook bitcoin bitcoin оборот claim bitcoin bitcoin видеокарта bitcoin 1000 microsoft ethereum bitcoin trend casper ethereum hd7850 monero monaco cryptocurrency bitcoin department bitcoin таблица ethereum programming china bitcoin вики bitcoin bitcoin motherboard bitcoin gif faucet cryptocurrency продать ethereum dwarfpool monero linux bitcoin bitcoin knots bitcoin конец transactions bitcoin bitcoin сша курсы bitcoin preev bitcoin bitcoin miner nya bitcoin bitcoin конвертер
bitcoin ммвб
вход bitcoin tether gps dog bitcoin bitcoin click bitcoin софт bitcoin анимация monero address bitcoin database ethereum addresses bitcoin описание bcn bitcoin blender bitcoin bonus bitcoin
bitcoin форекс bitcoin алгоритм mempool bitcoin исходники bitcoin bitcoin 100 bitcoin фарм
bitcoin suisse bitcoin mixer капитализация bitcoin bitcoin markets bitcoin ваучер ethereum проект email bitcoin bitcoin отзывы monero proxy bitcoin trust bitcoin машина bitcoin brokers up bitcoin bitcoin iq ethereum упал bitcoin tools bitcoin fasttech
wechat bitcoin видео bitcoin bonus bitcoin bitcoin удвоитель bitcoin telegram maining bitcoin
bitcoin авито
bitcoin rpg bitcoin терминал bitcoin проверить курсы bitcoin http bitcoin kran bitcoin bitcoin сколько ethereum логотип bitcoin dance metal bitcoin china bitcoin bitcoin fan ethereum сегодня bitcoin global monero btc bitcoin go bitcoin tails
sberbank bitcoin bitcoin investing bitcoin вектор bitcoin лучшие
взлом bitcoin
мастернода ethereum
вики bitcoin bitcoin покупка обменять ethereum The handle to the current state of the smart contractbyzantium ethereum bitcoin air purse bitcoin easy bitcoin bitcoin girls 99 bitcoin rpc bitcoin bitcoin сети bitcoin комментарии bitcoin testnet bitcoin linux
bitcoin farm clame bitcoin зарабатывать bitcoin bitcoin frog bitcoin rpg config bitcoin
bitcoin оплатить настройка bitcoin bitcoin download bitcoin сокращение monero miner ethereum code logo ethereum
скачать bitcoin hourly bitcoin bitcoin покупка
tether coin bitcoin это minergate ethereum скрипт bitcoin bitcoin block
обналичить bitcoin валюты bitcoin bitcoin de blender bitcoin bitcoin эмиссия script bitcoin платформ ethereum bitcoin future dollar bitcoin
блокчейн ethereum
primedice bitcoin валюты bitcoin приложение bitcoin bitcoin conf bitcoinwisdom ethereum bitcoin кредит matrix bitcoin
x bitcoin titan bitcoin bitcoin iq
market bitcoin bitcoin адреса bitcoin xt fx bitcoin bitcoin iso short bitcoin bitcoin exchange bitcoin проект
полевые bitcoin geth ethereum vizit bitcoin remix ethereum bitcoin balance linux bitcoin bitcoin instant flash bitcoin bitcoin fox Below, we'll examine the selection criteria that a miner should keep in mind before selecting a mining pool.
