What is a Hard Fork?
Hard forks can affect the functionality of a chain!
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Welcome back, readers! Today, we’re going to learn about forks! The recent upgrade of the Ethereum Blockchain’s London Hard Fork has drawn a lot of attention to hard forks. Today, we will talk about what a hard fork is. Before we look at hard forks specifically, though, let’s talk about the various kinds of forks that can occur on the blockchain.
What is a Fork?
It is an upgrade that adds functionality to existing blockchain platforms or improves performance.
What is a Hard Fork?
Hard forks happen when serious errors or security vulnerabilities are revealed or new features or other improvements need to be added. For these reasons, developers may start a new blockchain separately from the existing blockchain and apply new rules for creating blocks. Hard forks operate completely independently and do not maintain backward compatibility. In other words, a hard fork means switching to a completely different protocol.
Why Hard Forks Occur
Hard forks occur when developers or even the community decide that the blockchain needs to be upgraded or secured. Sometimes hard forks also occur accidentally, for example, if two miners mine a block at the same time resulting in two chains. Other than that, if the developers feel like the current blockchain has no functionality or something needs to be added, they will also create a hard fork.
Hard Fork vs Soft Fork
The biggest difference between a hard fork and a soft fork is the compatibility with the previous version. Soft forks are backward compatible, but hard forks are not. See the chart below for a more detailed description of the differences between the two.
Hard Fork Examples
The best examples of successful hard forks are Bitcoin Cash, Bitcoin Gold, and Bitcoin Diamonds, which were originally part of the Bitcoin blockchain.
In addition, Bitcoin SV hard-forked from Bitcoin Cash, Ethereum Classic hard-forked from Ethereum, Stellarumen hard-forked from Ripple, and Monero V hard-forked from Monero.
Hard forks and soft forks are an interesting part of blockchain technology. In a decentralized system, it can be hard to reach a consensus and make changes. It is a delicate balance between anonymity and organization. Hopefully, you’ve learned more things about the blockchain which will help you on your journey!
