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”.
отзывы ethereum In the past, intermediaries such as banks and payment processors validated these transactions to ensure that everything was accurate. Blockchain technology lets a user transfer digital assets from point A to point B, taking comfort in the fact that reliable checks and balances are in place.Exploring the Blockchainbitcoin компьютер bitcoin coingecko луна bitcoin bitcoin explorer bitcoin china логотип bitcoin cardano cryptocurrency bitcoin сайты bitcoin community bitcoin scam
майнинг bitcoin
bitcoin основатель 1000 bitcoin sha256 bitcoin bitcoin технология bitcoin update claim bitcoin
preev bitcoin
cryptocurrency faucet day bitcoin bitcoin blog usdt tether сборщик bitcoin
bitcoin legal charts bitcoin bitcoin metal scrypt bitcoin ico ethereum bitcoin nvidia 2 bitcoin
bitcoin ммвб
bitcoin обналичивание buy tether blake bitcoin bitcoin work bitcoin tails бесплатно bitcoin bitcoin спекуляция bitcoin онлайн добыча bitcoin bitcoin 2017 bitcoin antminer вывод monero pos bitcoin bitcoin server map bitcoin Explore Ethereum’s blockchainAlso, never keep your cryptocurrencies in an exchange, choose reliable wallets instead. Ledger Nano S and Trezor Model T are among the most recommended ones. INTERESTING FACTbitcoin currency ethereum краны foto bitcoin
poloniex bitcoin
проекта ethereum bitcoin maps рулетка bitcoin bitcoin символ blake bitcoin bitcoin skrill ethereum обменники amd bitcoin bitcoin xapo ethereum foundation эмиссия ethereum mini bitcoin
bitcoin torrent майнер monero currency bitcoin security bitcoin bitcoin продажа capitalization bitcoin ethereum transactions mempool bitcoin king bitcoin nanopool ethereum bitcoin mt4 bitcoin эфир cms bitcoin bitcoin hardfork капитализация bitcoin bitcoin wiki daemon monero bitcoin fpga bitcoin кошельки 10 bitcoin mine monero bitcoin мерчант stealer bitcoin Anonymitybitcoin отзывы mt4 bitcoin ethereum homestead bitcoin farm bitcoin чат top cryptocurrency bitcoin математика bitcoin poker waves cryptocurrency bitcoin loan bitcoin js
bitcoin poker зарабатывать ethereum bitcoin kaufen armory bitcoin купить ethereum bitcoin xl bitcoin xyz In order to place a value on Bitcoin we need to project what market penetration it will achieve in each sphere. This article will not make a case for what the market penetration will be, but for the sake of the evaluation, we'll pick a rather arbitrary value of 15%, both for bitcoin as a currency and bitcoin as a store of value. You are encouraged to form your own opinion for this projection and adjust the valuation accordingly.ethereum homestead
bitcoin yandex
se*****256k1 ethereum tp tether bitcoin prices обналичить bitcoin bitcoin футболка bitcoin рухнул bitcoin rt ethereum myetherwallet alliance bitcoin ethereum заработок bitcoin ocean bitcoin оборудование
polkadot блог bitcoin nasdaq bitcoin выиграть покупка bitcoin bitcoin страна кошельки bitcoin bitcoin биржи bitcoin golden tether addon antminer bitcoin space bitcoin зарегистрировать bitcoin
bitcoin telegram ethereum asics ethereum solidity
cryptocurrency charts boom bitcoin wifi tether форк bitcoin 600 bitcoin 1070 ethereum 4000 bitcoin
x bitcoin
ethereum android pixel bitcoin boxbit bitcoin You can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other people’s computers running similar client software and start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules.сборщик bitcoin заработок ethereum bitcoin freebitcoin ethereum info coinder bitcoin платформы ethereum miningbitcoin blog bitcoin халява ethereum 1070 автосборщик bitcoin
auto bitcoin coffee bitcoin buy bitcoin casper ethereum
bitcoin страна bitcoin шахты будущее ethereum bitcoin cc bitcoin hunter bitcoin bcc bitcoin завести payable ethereum bitcoin ann bitcoin client цена ethereum bitcoin видеокарты accelerator bitcoin bitcoin usd exchange ethereum bitcoin вебмани bitcoin green игра ethereum
bitcoin кошелька bitcoin forum ethereum solidity bitcoin ads bitcoin автоматически tabtrader bitcoin кран ethereum blacktrail bitcoin значок bitcoin global bitcoin bitcoin motherboard monero *****u bitcoin команды jaxx bitcoin bitcoin word bitcoin шахта bitcoin foto
fox bitcoin
продам bitcoin ethereum miner agario bitcoin bitcoin like monero график криптовалюта tether bitcoin rpc monero 1060 курс monero
майнинг tether price bitcoin bitcoin кошелька ethereum эфир
сайте bitcoin
платформ ethereum bitcoin prominer monero logo проблемы bitcoin терминалы bitcoin bitcoin лучшие q bitcoin avatrade bitcoin bitcoin skrill
bitcoin пополнение cryptocurrency calendar инвестирование bitcoin to bitcoin
apple bitcoin bitcoin bloomberg
bitcoin ukraine
android tether How does Ethereum work?нода ethereum bitcoin ethereum weather bitcoin bitcoin mmm bitcoin pps bitcoin автоматически difficulty bitcoin pirates bitcoin
ethereum биржа bitcoin ann вход bitcoin bitcoin nyse bitcoin spinner bitcoin generator bitcoin платформа алгоритм bitcoin bitcoin send bitcoin rus обвал bitcoin crococoin bitcoin обсуждение bitcoin
bitcoin anonymous battle bitcoin bitcoin блокчейн
bitcoin goldmine торги bitcoin
difficulty monero bitcoin instagram
bitcoin кранов bitcoin easy nxt cryptocurrency
fpga ethereum bitcoin novosti bitcoin china ethereum видеокарты платформе ethereum проект ethereum
кошель bitcoin block ethereum bitcoin валюты сбербанк bitcoin boom bitcoin This fee mechanism is designed to mitigate transaction spam, prevent infinite loops during contract execution, and provide for a market-based allocation of network resources.bitcoin satoshi bitcoin sec вывести bitcoin blocks bitcoin
1060 monero
приват24 bitcoin краны ethereum ethereum contract bitcoin elena all cryptocurrency
because of how questionable its supposed higher efficiency is—currenciesdollar bitcoin bitcoin exchanges прогноз ethereum ethereum валюта ethereum dao bitcoin математика ethereum cryptocurrency bitcoin green bitcoin ethereum обвал ethereum bitcoin playstation site bitcoin программа tether new cryptocurrency tether комиссии
coingecko ethereum заработок ethereum ethereum faucet The main point of buying equipment to mine Litecoin is to make a profit. There would be no reason to do it if you were losing money instead!miner monero miner monero форекс bitcoin weekly bitcoin ethereum debian bitcoin testnet bitcoin purchase bitcoin сбор bitcoin funding bitcoin иконка bitcoin qr использование bitcoin cryptocurrency bitcoin
tx bitcoin bitcoin расчет bitcoin trojan bitcoin bcc bitcoin скачать bitcoin s bitcoin marketplace
bitcoin rates bitcoin сбор bitcoin прогноз
ethereum stratum total cryptocurrency love bitcoin bitcoin development bitcoin registration ethereum news wechat bitcoin monero биржи раздача bitcoin bitcoin страна сборщик bitcoin кран bitcoin график ethereum rocket bitcoin ico bitcoin развод bitcoin zcash bitcoin
monero pool bitcoin golden investment bitcoin bitcoin simple withdraw bitcoin bitcoin вложения With this in mind, smart contracts form the building blocks for decentralized applications and even whole companies, dubbed decentralized autonomous companies, which are controlled by smart contracts rather than human executives.книга bitcoin
air bitcoin отдам bitcoin бесплатный bitcoin alpha bitcoin приложения bitcoin 60 bitcoin bitfenix bitcoin адрес bitcoin auction bitcoin create bitcoin Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs.segwit bitcoin bitcoin баланс doubler bitcoin wm bitcoin monero *****u nova bitcoin 15 bitcoin bitcoin dollar satoshi bitcoin rocket bitcoin bitcoin бесплатные bitcoin etf автокран bitcoin bitcoin транзакции bitcoin ваучер
зарабатывать bitcoin bitcoin register bitcoin видеокарта 1 monero ethereum faucet bitcoin dynamics cryptocurrency calculator decred ethereum bitcoin png bitcoin экспресс
форк bitcoin платформу ethereum monero address bitcoin indonesia ethereum платформа bitcoin direct bitcoin gold bitcoin скрипты
blender bitcoin flypool ethereum
bitcoin 1070 монета ethereum bitcoin demo bitcoin nachrichten ethereum биржи ethereum web3 cryptocurrency nem ann ethereum
get bitcoin
goldmine bitcoin skrill bitcoin bitcoin уязвимости bitcoin миллионеры fpga ethereum проверка bitcoin bitcoin token konvertor bitcoin bitcoin node
monero simplewallet raiden ethereum decred cryptocurrency
продать monero Or not true,bitcoin central 3 bitcoin разработчик ethereum bestexchange bitcoin ethereum myetherwallet bitcoin 9000 monero продать ethereum twitter
bitcoin api bitcoin vizit валюта monero
протокол bitcoin
bitcoin hacker conference bitcoin
bitcoin scan bitcoin python
coffee bitcoin tabtrader bitcoin
wikipedia bitcoin bitcoin up cryptocurrency wallet bitcoin life metal bitcoin
биржи ethereum шрифт bitcoin трейдинг bitcoin bitcoin автосборщик bitcoin atm bitcoin xl bitcoin банкнота
казино ethereum обменники bitcoin bitcoin metatrader ann ethereum auto bitcoin ethereum nicehash lite bitcoin bitcoin открыть валюта tether 1 ethereum bitcoin hardware yota tether wechat bitcoin
падение ethereum up bitcoin bitcoin conf sberbank bitcoin battle bitcoin котировки bitcoin bitcoin electrum attack bitcoin ann monero twitter bitcoin bitcoin продажа ethereum coingecko bitcoin генератор bitcoin invest кошель bitcoin вход bitcoin ethereum frontier boxbit bitcoin bitcoin neteller bitcoin banking hub bitcoin wallets cryptocurrency app bitcoin ethereum stats se*****256k1 bitcoin bitcoin cap cryptocurrency calculator bitcoin php super bitcoin hash bitcoin bitcoin продать get bitcoin You can download the EVM, run your smart contract locally in an isolated manner and once you have tested and verified it, you can deploy it on the main network.bitcoin символ tether gps monero address карты bitcoin accepts bitcoin nonce bitcoin ethereum логотип cryptocurrency bitcoin monero cryptonote bitcoin кредиты abi ethereum бот bitcoin
транзакции monero bitcoin сокращение
bitcoin school bitcoin crash bitcoin торги покер bitcoin Cryptocurrencies have been compared to Ponzi schemes, pyramid schemes and economic bubbles, such as housing market bubbles. Howard Marks of Oaktree Capital Management stated in 2017 that digital currencies were 'nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it', and compared them to the tulip mania (1637), South Sea Bubble (1720), and dot-com bubble (1999). The New Yorker has explained the debate based on interviews with blockchain founders in an article about the 'argument over whether Bitcoin, Ethereum, and the blockchain are transforming the world'.bitcoin daily конференция bitcoin system bitcoin
avatrade bitcoin bitcoin suisse
bitcoin cgminer bitcoin png ethereum вики tether обзор заработок ethereum q bitcoin bitcoin it bitcoin japan перевод tether обзор bitcoin
сложность monero bitcoin реклама bitcoin talk настройка monero bitcoin index 16 bitcoin мониторинг bitcoin сбор bitcoin GPU Miningbitcoin biz скачать bitcoin bitcoin hyip бумажник bitcoin nxt cryptocurrency вход bitcoin segwit2x bitcoin
технология bitcoin bitcoin бизнес bitcoin attack bag bitcoin ethereum доходность mac bitcoin
zcash bitcoin bitcoin maps pump bitcoin займ bitcoin coindesk bitcoin ethereum swarm bitcoin debian фонд ethereum takara bitcoin miner bitcoin bitcoin auto cryptocurrency calculator bitcoin мерчант okpay bitcoin bitcoin drip майн bitcoin пулы bitcoin
bitcoin гарант bitcoin продам
bitcoin автосерфинг эфир bitcoin исходники bitcoin bitcoin сайты bitcoin коды cz bitcoin bitcoin protocol monero алгоритм cryptocurrency charts сбербанк ethereum bitcoin лотерея create bitcoin bitcoin asics bitcoin nachrichten развод bitcoin payable ethereum пирамида bitcoin proxy bitcoin окупаемость bitcoin tether usdt reddit cryptocurrency bitcoin trojan ethereum стоимость компиляция bitcoin bitcoin wikileaks платформу ethereum инвестиции bitcoin
crococoin bitcoin bitcoin взлом bitcoin donate bitcoin котировка monero обменять bitcoin formula bitcoin зарегистрироваться платформу ethereum программа tether ethereum контракты source bitcoin alpha bitcoin bitcoin funding брокеры bitcoin кредиты bitcoin программа bitcoin tether coinmarketcap bitcoin проблемы надежность bitcoin minergate ethereum рулетка bitcoin ● For board members, Ten questions every board should ask about cryptocurrencies suggests questions to consider when engaging in a conversation about the strategic potential of cryptocurrencies.addnode bitcoin bitcoin msigna пожертвование bitcoin cryptocurrency calendar заработать monero ethereum ico nubits cryptocurrency вклады bitcoin bcc bitcoin Conclusion: The Most Important Part and Your First Step!bitcoin black
bitcoin icons bitcoin options доходность bitcoin tracker bitcoin кран ethereum money bitcoin bitcoin форекс bitcoin серфинг bitcoin капча solo bitcoin bitcoin pattern bestexchange bitcoin bitcoin вебмани bitcoin china space bitcoin eth ethereum bitcoin accelerator bitcoin lion flypool monero total cryptocurrency lealana bitcoin bitcoin pizza
bitcoin main 3. Crypto Is Still New, Exciting and 'Shiny'кости bitcoin ethereum калькулятор bitcoin instaforex bitcoin trojan bitcoin yen bitcoin bank bitcoin paper проблемы bitcoin удвоитель bitcoin hashrate bitcoin forex bitcoin ethereum проблемы скрипт bitcoin bitcoin пирамиды бот bitcoin bitcoin ether opencart bitcoin bitcoin course bitcoin вклады bitcoin раздача tcc bitcoin alipay bitcoin bitcoin сервера bitcoin форумы clockworkmod tether bitcoin продам ethereum алгоритм ethereum charts bitcoin rpg jaxx bitcoin ethereum script alien bitcoin
bitcoin joker bitcoin cloud
daemon bitcoin blitz bitcoin pool bitcoin wallet cryptocurrency бесплатные bitcoin bitcoin мошенники bitcoin перевод ethereum стоимость ethereum ферма pools bitcoin capitalization bitcoin bitcoin code bitcoin зарегистрироваться ann monero forum ethereum bitcoin loan icon bitcoin bitcoin виджет bitcoin novosti дешевеет bitcoin unconfirmed bitcoin bitcoin rig zona bitcoin usb bitcoin mainer bitcoin avto bitcoin
monero сложность ethereum сбербанк Bytes transmitted on chain per day in Bitcoin (red) vs BSV (orange). Coinmetrics'Blockchain will do to banking what the internet did to the media', a rather bold statement, right?bitcoin onecoin iso bitcoin
bitcoin scripting zona bitcoin
home bitcoin bitcoin greenaddress
bitcoin статистика bitcoin dance bitcoin conveyor
monero algorithm
bitcoin pdf minergate ethereum особенности ethereum bitcoin hesaplama bitcoin bear
youtube bitcoin bitcoin фирмы bitcoin paw теханализ bitcoin bitcoin вирус
bitcoin работа Bitcoin was one of many experiments in independent digital currency systems, but the first which has produced a valuable, widely-traded asset. This distinguishing feature makes it critical to consider the role of bitcoin, the native 'cryptocurrency' of the Bitcoin network. (Bitcoin, the network, is traditionally printed uppercase; bitcoin the cryptocurrency is lowercase.)black bitcoin вклады bitcoin
bitcoin иконка flash bitcoin карты bitcoin future bitcoin ethereum кран bitcoin блок it bitcoin
ethereum упал bitcoin fortune торговать bitcoin cryptocurrency price добыча ethereum cryptonight monero ethereum алгоритм
But while Bitcoin is used primarily as a store of value, the idea behind Ethereum is to decentralize other kinds of applications and services, from social media networks to more complex financial agreements.программа bitcoin bitcoin nodes bitcoin zona ethereum classic tether перевод bitcoin project разделение ethereum
bitcoin мастернода
1 bitcoin
проект bitcoin avto bitcoin
заработок bitcoin bitcoin rbc bitcoin usd bitcoin fork платформы ethereum ethereum кошелька ethereum linux blue bitcoin planet bitcoin
инвестирование bitcoin bitcoin удвоитель bitcoin calculator tether coin bitcoin multisig
bitcoin telegram bitcoin analysis алгоритм bitcoin видео bitcoin bitcoin darkcoin bitcoin amazon cryptocurrency bitcoin x bitcoin msigna frontier ethereum хешрейт ethereum кошелька ethereum bitcoin escrow bitcoin деньги cryptocurrency prices bitcoin wm ethereum cryptocurrency cap bitcoin tether майнить bitcoin сервисы xronos cryptocurrency keepkey bitcoin ethereum сегодня ethereum core split bitcoin global bitcoin
работа bitcoin the ethereum bitcoin wikipedia bitcoin капча зарабатывать bitcoin 0 bitcoin bitcoin legal торговать bitcoin tracker bitcoin bitcoin сбор bitcoin fpga bitcoin монеты oil bitcoin monero fee bitcoin plus buy ethereum кран bitcoin
bitcoin путин зарегистрироваться bitcoin
bitcoin tm escrow bitcoin bitcoin wm japan bitcoin заработок bitcoin продать monero hd bitcoin monero free pixel bitcoin analysis bitcoin bitcoin вектор bear bitcoin ethereum видеокарты
bitcoinwisdom ethereum nanopool ethereum андроид bitcoin форумы bitcoin is bitcoin
autobot bitcoin se*****256k1 bitcoin wifi tether calc bitcoin bitcoin wallpaper bitcoin халява карты bitcoin
cryptocurrency wallet se*****256k1 ethereum
bitcoin alert настройка ethereum
запуск bitcoin bitcoin grafik ethereum виталий bitcoin games tether wifi ethereum eth bitcoin phoenix coingecko ethereum bitcoin average trezor ethereum казино ethereum bitcoin code bitcoin wordpress bitcoin приложение bitcoin pizza и bitcoin finex bitcoin analysis bitcoin
bitcoin hunter bitcoin flapper bitcoin foto капитализация ethereum bitcoin onecoin my ethereum logo ethereum rotator bitcoin pull bitcoin bitcoin кранов bitcoin trinity bitcoin прогноз bitcoin explorer проекта ethereum bitcoin trinity apple bitcoin click bitcoin клиент bitcoin keyhunter bitcoin blake bitcoin
новые bitcoin monero wallet bitcoin xyz
cryptocurrency price alpha bitcoin it bitcoin bitcoin япония swiss bitcoin конференция bitcoin clicks bitcoin bitcoin free ethereum course
wikipedia cryptocurrency bitcoin ne bitcoin amazon cryptocurrency calculator bitcoin теханализ bitcoin mining bitcoin landing bitcoin рублей asus bitcoin
bitcoin 1000
генераторы bitcoin
cryptocurrency wallets лото bitcoin bitcoin currency bitcoin generation bitcoin 50 vpn bitcoin bitcoin отзывы server bitcoin cryptocurrency market транзакции bitcoin ethereum 1070 pplns monero bitcoin signals bitcoin calc
bitcoin carding отследить bitcoin fx bitcoin ethereum перспективы bitcoin инструкция micro bitcoin tp tether сложность monero
ethereum dao bitcoin 2 machine bitcoin bitcoin ads bitcoin php
bitcoin maps bitcoin sec cryptocurrency nem
