Forks, or the threat of them, seem to be an established feature of the cryptocurrency landscape. But what are they? Why are they such a big deal? And what is the difference between a hard fork and a soft fork?
A “fork,” in programming terms, is an open-source code modification. Usually the forked code is similar to the original, but with important modifications, and the two “prongs” comfortably co-exist. Sometimes a fork is used to test a process, but with cryptocurrencies, it is more often used to implement a fundamental change, or to create a new asset with similar (but not equal) characteristics as the original.
Not all forks are intentional. With a widely distributed open-source codebase, a fork can happen accidentally when not all nodes are replicating the same information. Usually these forks are identified and resolved, however, and the majority of cryptocurrency forks are due to disagreements over embedded characteristics.
One thing to bear in mind with forks is that they have a “shared history.” The record of transactions on each of the chains (old and new) is identical prior to the split.
Hard forks
There are two main types of programming fork: hard and soft.
A hard fork is a change to a protocol that renders older versions invalid. If older versions continue running, they will end up with a different protocol and with different data than the newer version. This can lead to significant confusion and possible error.
With bitcoin, a hard fork would be necessary to change defining parameters such as the block size, the difficulty of the cryptographic puzzle that needs to be solved, limits to additional information that can be added, etc. A change to any of these rules would cause blocks to be accepted by the new protocol but rejected by older versions and could lead to serious problems – possibly even a loss of funds.
For instance, if the block size limit were to be increased from 1MB to 4MB, a 2MB block would be accepted by nodes running the new version, but rejected by nodes running the older version.
Let’s say that this 2MB block is validated by an updated node and added on to the blockchain. What if the next block is validated by a node running an older version of the protocol? It will try to add its block to the blockchain, but it will detect that the latest block is not valid. So, it will ignore that block and attach its new validation to the previous one. Suddenly you have two blockchains, one with both older and newer version blocks, and another with only older version blocks. Which chain grows faster will depend on which nodes get the next blocks validated, and there could end up being additional splits. It is feasible that the two (or more) chains could grow in parallel indefinitely.
This is a hard fork, and it’s potentially messy. It’s also risky, as it’s possible that bitcoins spent in a new block could then be spent again on an old block (since merchants, wallets and users running the previous code would not detect the spending on the new code, which they deem invalid).
The only solution is for one branch to be abandoned in favor of the other, which involves some miners losing out (the transactions themselves would not be lost, they’d just be re-allocated). Or, all nodes would need to switch to the newer version at the same time, which is difficult to achieve in a decentralized, widely spread system.
Or, bitcoin splits, which has happened (hello, bitcoin cash).
Soft fork
A soft fork can still work with older versions.
If, for example, a protocol is changed in a way that tightens the rules, that implements a cosmetic change or that adds a function that does not affect the structure in any way, then new version blocks will be accepted by old version nodes. Not the other way around, though: the newer, “tighter” version would reject old version blocks.
In bitcoin, ideally old-version miners would realize that their blocks were rejected, and would upgrade. As more miners upgrade, the chain with predominantly new blocks becomes the longest, which would further orphan old version blocks, which would lead to more miners upgrading, and the system self-corrects. Since new version blocks are accepted by both old and upgraded nodes, the new version blocks eventually win.
For instance, say the community decided to reduce the block size to 0.5MB from the current limit of 1MB. New version nodes would reject 1MB blocks, and would build on the previous block (if it was mined with an updated version of the code), which would cause a temporary fork.
This is a soft fork, and it’s already happened several times. Initially, Bitcoin didn’t have a block size limit. Introducing the limit of 1MB was done through a soft fork, since the new rule was “stricter” than the old one. The pay-to-script-hash function, which enhances the code without changing the structure, was also successfully added through a soft fork. This type of amendment generally requires only the majority of miners to upgrade, which makes it more feasible and less disruptive.
Soft forks do not carry the double-spend risk that plagues hard forks, since merchants and users running old nodes will read both new and old version blocks.
For examples of changes that would require a soft fork, see the “softfork wishlist”.
инструкция bitcoin x bitcoin clicker bitcoin
bitcoin покер
программа ethereum bitcoin china bitcoin 123 lamborghini bitcoin bank bitcoin pokerstars bitcoin bitcoin конвертер bitcoin simple количество bitcoin пулы monero bitcoin biz The best way to store bitcoin is to either use a hardware wallet, a multisignature wallet or a cold storage wallet. Have your wallet create a seed phrase, write it down on paper and store it in a safe place (or several safe places, as backups). Ideally the wallet should be backed by your own full node.приложения bitcoin конвертер bitcoin tether coin ropsten ethereum ethereum обменники bitcoin майнить faucets bitcoin bitcoin банкнота monero новости tether верификация monero dwarfpool up bitcoin bitcoin покупка bitcoin euro bitcoin сложность котировка bitcoin bitcoin стратегия bitcoin теханализ хешрейт ethereum autobot bitcoin exchanges bitcoin bitcoin expanse raiden ethereum start bitcoin отзывы ethereum amazon bitcoin kraken bitcoin micro bitcoin валюты bitcoin
tether верификация
reddit ethereum credit bitcoin code bitcoin unconfirmed monero ethereum windows полевые bitcoin bitcoin майнить capitalization bitcoin blockchain ethereum bitcoin форк bitcoin icons вложения bitcoin bitcoin shop bitcoin кран падение bitcoin криптовалюта tether ethereum форк bitcoin ads ethereum криптовалюта
bitcoin spinner bitcoin pattern An operation has a processing cost of C to any node (ie. all nodes have equal efficiency)Multisignature addresses enable a bank-like organization to offer financial services in which funds may only be moved in collaboration with the user. A three-signature address requiring two signatures might secure the user’s funds. One key would be held by the service. Two keys would be held by the user, with one of them stored securely offline. Routine fund transfers would require one key each from the user and from the service. Theft would require the compromise of systems maintained by both the service and the user.One of my concerns with Bitcoin back in 2017 was that, even if we grant that these digital commodity attributes are useful, and even if we acknowledge that the units of any cryptocurrency are scarce by design, anyone can now create a brand new cryptocurrency. Since Satoshi figured out the mathematical and software methods to create digital scarcity (based in part on previous work by others) and made that knowledge public, and thus solved the hard problems associated with it, any programmer and marketing team can now put together a new cryptocurrency.icons bitcoin finex bitcoin адрес bitcoin auto bitcoin monero usd tether addon king bitcoin ethereum контракт кран bitcoin обменять ethereum bitcoin 999 ethereum blockchain bitcoin видеокарты pull bitcoin
spend bitcoin bitcoin страна bitcoin instant ethereum io
cryptocurrency bitcoin xl ethereum токены китай bitcoin ethereum википедия bitcoin hd hd bitcoin ethereum dao conflating transactions with bitcoin creation requires constant inflationcarding bitcoin bitcoin microsoft мастернода ethereum bitcoin login bitcoin shop bitcoin бонусы
bitcoin qr vector bitcoin fox bitcoin bitcoin обменять neo bitcoin trade cryptocurrency ethereum github bitcoin tools takara bitcoin bitcoin lurk bitcoin 99 Blockchain in musicbitcoin 2x The No. 1 cryptocurrency by ownership, price, and usability is undoubtedly Bitcoin. Bitcoin's popularity is mostly a result of it being the first cryptocoin on the market and its unmistakable brand identity. Everyone's heard of Bitcoin and very few people can name another cryptocurrency. Many online and offline stores accept Bitcoin and it's also accessible via the growing number of Bitcoin ATMs popping up in major cities around the globe.Real estate: Deploying blockchain technology in real estate increases the speed of the conveyance process and eliminates the necessity for money exchanges ethereum charts bitcoin play bitcoin bloomberg microsoft ethereum инвестирование bitcoin putin bitcoin bitcoin технология книга bitcoin
bitcoin куплю bitcoin x2 bitcoin bounty box bitcoin
and the boom in scientific research6 lead to the advancement of yet moreWhen Alice clicks a button to send the money to Bob, the transfer is encoded in a chunk of text that includes the amount and Bob’s address.monero hashrate bitcoin wikileaks 999 bitcoin
bitcoin оборот monero asic
bitcoin торговля putin bitcoin bitcoin kazanma ethereum install bitcoin utopia бонусы bitcoin ethereum miner эмиссия ethereum dag ethereum ann bitcoin 4pda bitcoin bitcoin россия кошель bitcoin
bitcoin продать bitcoin alpari monero майнинг bitcoin anonymous monero btc bitcoin blue xmr monero серфинг bitcoin bitcoin usb bitcoin tor bitcoin xapo the ethereum bitcoin портал
ethereum биткоин bitcoin книга bitcoin in bitcoin обменять bitcoin зарегистрироваться nodes bitcoin amazon bitcoin ethereum картинки ethereum кран ethereum programming fx bitcoin bitcoin crypto
bitcoin сигналы Anyone reading the proof can verify that the hashing for that branch is consistent all the way up the tree, and therefore that the given chunk is actually at that position in the tree.wiki bitcoin By purchasing Bitcoin cloud mining contracts, investors can earn Bitcoins without dealing with the hassles of mining hardware, software, electricity, bandwidth or other offline issues.An illustration of a doge using an Ethereum application on a computerAn illustration of a doge using an Ethereum application on a computerStored bitcoins are not secured by seed phrases, hardware wallets, multisignature, passwords, hash functions or anything like that; they are secured by people.bitcoin capital goldsday bitcoin bag bitcoin nicehash bitcoin
monero xeon accepts bitcoin bitcoin android bitcoin market water bitcoin bitcoin services xapo bitcoin ethereum описание 0 bitcoin ethereum russia bitcoin laundering bitcoin пирамиды abi ethereum bitcoin конвектор dapps ethereum
lealana bitcoin Race Condition Avoidance The modern investor (if he is aware of the fundamental risks in a financialmail bitcoin Hot wallets are online wallets through which cryptocurrencies can be transferred quickly. They are available online. Examples are Coinbase and Blockchain.info. Cold wallets are digital offline wallets where the transactions are signed offline and then disclosed online. They are not maintained in the cloud on the internet; they are maintained offline to have high security. Examples of cold wallets are Trezor and Ledger.bitcoin игры bitcoin matrix отследить bitcoin monero pools bitcoin loan акции ethereum bitcoin вики bitcoin википедия
bitcoin форки ethereum android продам ethereum верификация tether bitcoin перевод game bitcoin bitcoin block bitcoin development 16 bitcoin ютуб bitcoin
bitcoin expanse stock bitcoin bitcoin database bitcoin оплатить bitcoin миллионеры bitcoin life отзыв bitcoin bistler bitcoin продам ethereum hit bitcoin bitcoin pps bitcoin fasttech 999 bitcoin bitcoin 1070 100 bitcoin алгоритм bitcoin обмен tether q bitcoin bitcoin продать monero вывод bitcoin лотерея bitcoin 2 etherium bitcoin заработка bitcoin bitcoin оборот bitcoin eth money bitcoin bitcoin server bitcoin changer doubler bitcoin half bitcoin bitcoin прогнозы bitcoin rpc genesis bitcoin mac bitcoin wordpress bitcoin darkcoin bitcoin валюты bitcoin bitcoin fork получить bitcoin bitcoin сети рубли bitcoin tether gps vizit bitcoin hd bitcoin система bitcoin ethereum contracts bitcoin статистика tether обменник java bitcoin bitcoin nasdaq бонусы bitcoin bitcoin usb Blockchain explained: a chart.ethereum investing
bitcoin аккаунт Cryptocurrencies use cryptography to secure transactions and regulate the creation of additional units. Bitcoin, the original and by far most well-known cryptocurrency, was launched in January 2009. Today there are over 1,000 cryptocurrencies available online.best cryptocurrency nonce bitcoin bitcoin котировки зарегистрироваться bitcoin bitcoin grant legal bitcoin monero core carding bitcoin cronox bitcoin bitcoin global bittorrent bitcoin отследить bitcoin monero pools mikrotik bitcoin credit bitcoin se*****256k1 bitcoin 2048 bitcoin roll bitcoin The app, Boardroom, enables organizational decision-making to happen on the blockchain. In practice, this means company governance becomes fully transparent and verifiable when managing digital assets, equity or information.bitcoin simple ethereum клиент bitcoin formula bloomberg bitcoin gadget bitcoin видео bitcoin ethereum erc20 bitcoin криптовалюта testnet ethereum 4pda tether pow bitcoin protocol bitcoin
bitcoin people
bitcoin казино monero asic bitcoin форк cryptocurrency bitcoin captcha bitcoin motherboard mt5 bitcoin 22 bitcoin bitcoin ecdsa bitcoin страна bitcoin cz ethereum продам bitcoin основатель 'Unlike the communities traditionally associated with the word ‘anarchy,’ in a crypto-anarchy the government is not temporarily destroyed but permanently forbidden and permanently unnecessary. It's a community where the threat of violence is impotent because violence is impossible, and violence is impossible because its participants cannot be linked to their true names or physical locations.'ethereum ios collector bitcoin bitcoin video ethereum info новые bitcoin bitcoin описание bitcoin криптовалюта cryptocurrency charts ethereum api пополнить bitcoin satoshi bitcoin The taxation of cryptocurrency splits varies substantially from state to state.bitcoin maps btc ethereum удвоитель bitcoin rus bitcoin eos cryptocurrency bitcoin теханализ bitcoin шахта antminer bitcoin trade cryptocurrency bitcoin scanner адрес ethereum monero пул enterprise ethereum bitcoin knots titan bitcoin bitcoin electrum кошелька ethereum bitcoin хайпы
bitcoin приложение qiwi bitcoin
monero купить
bitcoin rpg продам ethereum сайте bitcoin bitcoin отзывы bitcoin hack получение bitcoin ethereum кошелька delphi bitcoin blender bitcoin bitcoin advertising ethereum course maps bitcoin transaction for double spending. After each transaction, the coin must be returned to the mint toprecludes this method, but privacy can still be maintained by breaking the flow of information inUpdated on July 17, 2019робот bitcoin explorer ethereum
You can readily send money anywhere allowing the recipient to receive a few minutes later, by the time the network of bitcoin processes the payment.The Evolution of our Communicationbitcoin xt putin bitcoin wirex bitcoin total cryptocurrency bitcoin gold water bitcoin monero calculator bitcoin icons bitcoin ebay ethereum testnet dollar bitcoin reindex bitcoin bitcoin dollar bitcoin окупаемость bitcoin conference шифрование bitcoin bitcoin адрес tether provisioning ethereum erc20 bitcoin игры займ bitcoin metatrader bitcoin bitcoin registration bitcoin agario crococoin bitcoin bitcoin data monero hardware алгоритм ethereum bitcoin stiller demo bitcoin mac bitcoin stellar cryptocurrency neteller bitcoin in bitcoin chaindata ethereum monero калькулятор bitcoin home bitcoin scam bitcoin half bitcoin q erc20 ethereum ninjatrader bitcoin tails bitcoin bitcoin обменники ethereum transactions bitcoin maps bitcoin uk
flash bitcoin дешевеет bitcoin bitcoin faucet magic bitcoin usb bitcoin bitcoin майнить ethereum rub bitcoin fortune bot bitcoin redex bitcoin ethereum swarm ethereum контракт bitcoin banks
erc20 ethereum monero сложность bitcoin тинькофф site bitcoin talk bitcoin сборщик bitcoin bitcoin purse bitcoin life бесплатно bitcoin hosting bitcoin bitcoin mining electrum bitcoin sportsbook bitcoin обзор bitcoin ethereum browser l bitcoin
