What are Hard Forks and Soft Forks in the Crypto World?

[Suba]

Hard forks are changes to blockchain protocols, which create new independent blockchains and cryptos. An example of a hard fork is that Bitcoin creates Bitcoin Cash and Ethereum creates Ethereum Classic. At the time of the Hard fork if you hold 1 Bitcoin, you will get 1 BCH.

Whereas a soft fork is a change in the crypto blockchain protocol but does not create a new blockchain. Not creating new crypto. An example of a Softfork on Bitcoin is SegWit.

 

[Magnus2022]

Thanks for the explanation . What I find difficult to comprehend how the changes arises. Is it from human interference or the blockchain malfunction. I have asked this question severally but I have not been able to get satisfactory answers.

 

[Suba]

Thanks for the explanation . What I find difficult to comprehend how the changes arises. Is it from human interference or the blockchain malfunction. I have asked this question severally but I have not been able to get satisfactory answers.

Hard forks are created by crypto developers or the community, to update and improve the functionality of a blockchain.

 

[riberet19]

Hard forks are created by crypto developers or the community, to update and improve the functionality of a blockchain.

Yes, for example, one of the most famous hard forks was in 2017 with the birth of BCH (Bitcoin Cash).

 

[Magnus2022]

Hard forks are created by crypto developers or the community, to update and improve the functionality of a blockchain.

Thank you for the answer. Now, it makes sense because if the blockchain can be able to create another version of itself, you know we have a very big problem at hand.

 

[uptrendfinancialsignal]

You have explained the clear difference between hardfork and soft fork in cryptocurrency projects.

 

[gammarays]

Hard fork is a change on the main protocol to bring changes to it. Hard forks retain some characteristics of the main protocol but it's better in performance due to changes or upgrades.

 

[Reedex]

It is very correct that hard fork is a change to the blockchain protocols and new coin is often developed in this.

 

[Yohanna]

It is very correct that hard fork is a change to the blockchain protocols and new coin is often developed in this.

The Hardfork is very important whenever you want to create an improvement on a.particular blockchain.

 

[Smalto]

Y

Hard forks are changes to blockchain protocols, which create new independent blockchains and cryptos. An example of a hard fork is that Bitcoin creates Bitcoin Cash and Ethereum creates Ethereum Classic. At the time of the Hard fork if you hold 1 Bitcoin, you will get 1 BCH.

Whereas a soft fork is a change in the crypto blockchain protocol but does not create a new blockchain. Not creating new crypto. An example of a Softfork on Bitcoin is SegWit.

You are very knowledgeable, I never knew what those terminologies you mentioned were, but now I can comfortably explain it to someone else, this is very commendable, and once again thanks for dropping the information.

 

[Yohanna]

You have explained the clear difference between hardfork and soft fork in cryptocurrency projects.

Majority of people do not know the difference between the hard fork and a soft fork and this thread has done justice to that.

 

[Suba]

Majority of people do not know the difference between the hard fork and a soft fork and this thread has done justice to that.

We should be able to take advantage, every time there is a hardfork and I always get rewarded from holding core coin (Bitcoin) in Coinbase wallet and get the same amount for free,

 

[Yohanna]

We should be able to take advantage, every time there is a hardfork and I always get rewarded from holding core coin (Bitcoin) in Coinbase wallet and get the same amount for free,

Yeah! You are absolutely correct with your submission and it is worth taking note of.