To Understand A Hard Fork

Sometimes, a division is something good, something needed. Usually, that is the case of hard forks. How can they help a cryptocurrency blockchain?

What is it?

In simple words, a hard fork is a division of the blockchain. When a blockchain protocol needs a radical change of course, usually the only option is to conduct a hard fork. If owners of the nodes need to repair something in the network, a hard fork is the most effective solution to do that. In other words, a hard fork is a permanent distinction from the previous version of the blockchain protocol. From the moment when hard fork happens, nodes running in previous versions will not accept transactions/blocks from nodes which run new protocol version.

So, a hard fork is a kind of update of the network.

The most common causes of a hard fork:

• raising the security of the blockchain
• eliminating errors in the network
• adding new functionalities to the blockchain
• reversing transactions

The most popular hard forks

There have been many hard forks across the whole crypto industry. The most famous one happened on 1 August 2017 in Bitcoin blockchain. That was the first time when Bitcoin split itself (BTC had hard forks earlier, but it never split itself before). As a result of that, Bitcoin Cash was created.

A few months ago, BCH divided itself to BCH ABC and BCH SV. Not only the Bitcoin network has had its hard forks. Ethereum and many others also have had this process conducted.

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