Blockchain forks and the CoinEx Smart Chain.

Hello guys, Abdulwahab here, I welcome again to my cozy corner on the internet space, where we discuss technical subjects of the Blockchain space.

In this article we are going to be talking about Blockchain forks and understanding why the CoinEx SMart Chain currently doesn’t have one.

We will start by touching on topics like…

• What is a blockchain fork?
• Types of forks and how they work.
• Why do they happen?
• Relating the CoinEx Smart Chain.
• Why does the CoinEx Smart Chain have no forks?
• Possible reasons.
• Conclusion.

What is a blockchain fork?

Forks in the blockchain network are essentially divisions in the network. The network’s source code is open source and available for free. This implies that the code can be altered and changes suggested by anyone. A key component of cryptocurrencies is the ability to experiment with open-source software, which also makes it easier to upgrade the blockchain.

When the software of various miners diverges, forks happen. The choice of which blockchain to use moving forward is left to the miners. The blockchain could be split into two different versions if there isn’t a consensus decision.

Types of forks:

Since the CoinEx Smart Chain (CSC) is a Proof-of-stake (PoS) protocol there is no reconvergence of the network on a single chain. When making changes to the protocol, blockchain engineers utilize this kind of fork, for instance, programmers might employ an intentional fork to design a completely new consensus algorithm, decrease block time, or even raise block size.

Hard fork:

In relation to blockchain technology, a hard fork (or hard fork) is a fundamental modification to a network’s protocol that renders previously invalid blocks and transactions valid, or vice versa. Every node or user must update to the most recent protocol version after a hard fork.

Soft fork:

A soft fork is a software protocol adjustment used in blockchain technology where only previously valid transaction blocks are rendered invalid. A soft fork is backwards-compatible since older nodes will still accept the new blocks as legitimate.

Why do forks happen?

This can simply be explained as a process of the protocol re-writing the rules to suit the new operations of the system.

Since there is no single entity in charge of running the blockchain, it is up to the users of the network to decide on a course of action and put it into practice.

But there are various subsets of players on blockchains, from miners to full node users to developers. Who then has the final decision on what network changes should be made?

Some members of the network have greater voting power than others since each subgroup makes a different contribution to the network.

Relating the CoinEx Smart Chain.

About CoinEx Smart Chain;

Being the first public chain in the world created specifically for DEX.

The goal of CSC is to create a decentralized, community-driven trading system with self-managed user assets and open trading regulations.

As the type of protocol the CSC is designed to be, it had its first hard fork event take place and after it did, it was reported that the Atlantis Hard fork upgraded without generating any new fork.
Generating at a block height of 4,545,600 and designed to upgrade the trading experience of users.

Why does the CSC not have forks?

Although there were no divisions in the protocols, the CoinEx chain became the CoinEx smart Chain as it is the first and only chain that has undergone such a process without forking.

However, it is or may be too early to assume that as there had also been a second but less popular upgrade scheduled in the same year (2020).

Possible reasons why

1).A Possible reason for no forks on the CSC may be because it is built in Ethereum go.

2).Another maybe because to actually answer the question; the actual reason isn’t known, but it can be assumed that Atlantis and Jerusalem upgrades were hard forks since it didn’t diminish the operating system of the protocol but made it better.

Conclusion

To cap it off, when we understand fully that the CSC is a complete and more functioning upgrade to the Ethereum chain and so beats it’s predecessor with points like performance, speed and security.

The reason it isn’t forked is because CSC is an actual smart chain that hasn’t witnessed any recorded down time during transactions