What is a cryptocurrency Fork?

What is a fork? Cryptocurrencies like Bitcoin and Ethereum are powered by decentralized, open-source software called a blockchain. A fork happens whenever a community makes a change to the blockchain’s protocol, or basic set of rules.

What is a hard fork in crypto?

Hard forks occur when software developers initiate a major system-wide upgrade to a cryptocurrency that renders the old version no longer usable. This is a fundamental change of a cryptocurrency’s core blockchain protocols, such as block size and mining algorithm. Notable hard forks in the crypto industry include:

What is a fork in blockchain?

In its broadest sense, a fork is simply a change in the blockchain’s protocol that the software uses to decide whether a transaction is valid or not. This means that almost any divergence in the blockchain can be considered a fork. When Do Forks Occur?

What are the most Forked cryptocurrencies?

Bitcoin and Ethereum are two of the most forked cryptocurrencies. The infamous Dogecoin is a fork of mainstream crypto Litecoin, and Litecoin is a fork of Bitcoin. Why Might a Blockchain Fork? In cryptocurrency, there are two types of forks: hard forks and soft forks.