13.01.2021
2
TłumaczI do not understand what hard fork and soft fork are. I want to know what is the difference between them. If you could explain to me in simple words. Thank you
13.01.2021
2
I do not understand what hard fork and soft fork are. I want to know what is the difference between them. If you could explain to me in simple words. Thank you
MatCussac
15.01.2021 16:15
0
ReplyWhat is the difference between hard fork and soft fork ??
MatCussac
15.01.2021 16:15
Hard and soft forks are needed for the long-term success of a blockchain network. They allow many updates in a decentralized system even if there is no central authority. While both forks form a split, in a soft fork only that blockchain remains valid. However, a hard fork causes two blockchains to exist side by side, and the former is abandoned by users.
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Hard and soft forks are needed for the long-term success of a blockchain network. They allow many updates in a decentralized system even if there is no central authority. While both forks form a split, in a soft fork only that blockchain remains valid. However, a hard fork causes two blockchains to exist side by side, and the former is abandoned by users.
davson
20.01.2021 20:46
0
ReplyWhat is the difference between hard fork and soft fork ??
davson
20.01.2021 20:46
Fork on cryptocurrencies is based on forking the blockchain. It is also often referred to as a hard fork.
A fork happens on cryptocurrencies when two blocks are forked at approximately the same time and it is impossible to tell which blockchain is dominant. As more blocks are discovered, the longer chain becomes the main chain, and the shorter chain is "orphaned", i.e. mining pools stop mining it.
Forks are also done intentionally to introduce new features to the system. A fork establishes a completely new rule, incompatible with the old software. As a result, you have to update the software (client) to be able to use the system.
It may happen that some miners will not accept the changes and will stay with the old chain, while the rest will mine the new chain. Then we are dealing with a split of the network and the creation of a new cryptocurrency. An example illustrating such a situation is a fork on Ethereum (ETH) and the creation of Ethereum Classic (ETC).
Forks can also be done for purely economic purposes, a great example of which is a fork in Bitcoin resulting in Bitcoin Gold. The change was not innovative, it was to favor GPU (graphics card) miners over ASIC miners. The originators of BTG decided to leverage the popularity and huge customer base of Bitcoin to create their own cryptocurrency.
A soft fork is simply a system update that is customarily referred to as a fork. The name has become accepted among the cryptocurrency community and is used to describe protocol changes that do not require network sharing. Furthermore, making changes does not require an update because the system is backwards compatible.
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ReplyAdd comment to answer
Fork on cryptocurrencies is based on forking the blockchain. It is also often referred to as a hard fork.
A fork happens on cryptocurrencies when two blocks are forked at approximately the same time and it is impossible to tell which blockchain is dominant. As more blocks are discovered, the longer chain becomes the main chain, and the shorter chain is "orphaned", i.e. mining pools stop mining it.
Forks are also done intentionally to introduce new features to the system. A fork establishes a completely new rule, incompatible with the old software. As a result, you have to update the software (client) to be able to use the system.
It may happen that some miners will not accept the changes and will stay with the old chain, while the rest will mine the new chain. Then we are dealing with a split of the network and the creation of a new cryptocurrency. An example illustrating such a situation is a fork on Ethereum (ETH) and the creation of Ethereum Classic (ETC).
Forks can also be done for purely economic purposes, a great example of which is a fork in Bitcoin resulting in Bitcoin Gold. The change was not innovative, it was to favor GPU (graphics card) miners over ASIC miners. The originators of BTG decided to leverage the popularity and huge customer base of Bitcoin to create their own cryptocurrency.
A soft fork is simply a system update that is customarily referred to as a fork. The name has become accepted among the cryptocurrency community and is used to describe protocol changes that do not require network sharing. Furthermore, making changes does not require an update because the system is backwards compatible.
JacekSalach
13.01.2021 21:56