Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Necrobs on January 18, 2018, 01:36:31 PM
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I've heard few things about it and i know that there is hard forks and another type of forks but it's not really clear.
Thanks :)
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A fork is a creation of a new blockchain from one cryptocurrency. Fork happens when People want to modify its structure because they don't like how it works.
There are two forks. Soft and Hard one.
The Soft fork is when a part of blockchain is modified but it has something in common with the old blockchain. In this case you haven't to update your wallet or download a new one.
The hard fork happens when there is a complete modification of its blockchain.
In this case, you have to update your software or download a wallet that recognize the new blocks that are generated.
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So basically, a soft fork is the same cryptocurrency but a new crytpo appear with a hard fork ? So what happened to the old one ?
Thanks for your answer :)
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So, in few words, If you see that it will happen a fork it will born a new cryptocurrency in both cases. The old cryptocurrency continues to exist in the market of crypto.
The difference is that in soft fork the new cryptocurrency has something in common with the old crypto.
When it happens an hard fork this new cryptocurrency change totally its structure, so, consequently it will became incompatible with the older one :).
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Ok thanks :)
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This article is meaningful and good for the beginner in the world of crypto
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A fork is a creation of a new blockchain from one cryptocurrency. Fork happens when People want to modify its structure because they don't like how it works.
There are two forks. Soft and Hard one.
The Soft fork is when a part of blockchain is modified but it has something in common with the old blockchain. In this case you haven't to update your wallet or download a new one.
The hard fork happens when there is a complete modification of its blockchain.
In this case, you have to update your software or download a wallet that recognize the new blocks that are generated.
Nice share of knowledge sir. Its a good thread to know more about crypto currency. As newbie we need to know more about the basic things about bitcoin or other crypto.
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Forks is represent changes to the bitcoin protocol that make previous rules valid or invalid. Cryptocurrency forks are merely protocol upgrades, and there are two types of fork a soft fork and a hard fork, A Soft fork is a rule change that is backward compatible; which means the new rules can still be interoperable with the legacy protocol, and a Hard fork enables a rule change to the software, but it does not have backward compatibility. Both types of forks can be radical changes to the underlying protocol.
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For me, In the cryptocurrency world a fork is when a there is a change in the rules of the blockchain that the coin operates on or the nodes disagree on a historic transaction, There are two types of fork hard forks and soft forks. a soft fork and a hard fork can both be beneficial for the long term survival of cryptocurrencies, as they need to be improved and updated, some hard forks can be malicious and have only the developers financial interests in mind.
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Watching the answers. You guys tell the explanation very well. I can learn something new from the discussion here. thank you
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I've seen people have already cleared the confusion but there are further two types of fork. Hard forks and soft forks are essentially the same thing in that when a cryptocurrency's existing code is changed, an old version remains while a new version is created. However, with a soft fork, only one blockchain will remain valid as users adopt the update. Both forks create a split, but a hard fork creates two blockchains, and a soft fork is meant to result in one.
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I still don't understand enough about this. But after i read some answers above, I can understand a little about this. ;D
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I've heard few things about it and i know that there is hard forks and another type of forks but it's not really clear.
Thanks :)
There is hard fork and soft fork. Soft fork is whereby there is a simple upgrade to the system. The old and new data are still to interact with one another. If there is a hard fork, it is a total change to the system such that the old system is no longer applicable, thus the new data is built on the new system and unable to interact effectively with the old/outdated system.
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Thank you for all the explanations above! I am not sure if I got this right, so a fork in general is like an update to the blockchain? And the soft fork means that the old blockchain will remain interacting with the new one (so still one blockchain) but the hard fork means that the new blockchain will be separated from the old outdated one (so it creates two blockchains)?
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I heard the many time about Bitcoin hard fork, if I have the Bitcoin in the wallet, how can I get the new Bitcoin after the fork? Have I received it automation?
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I heard the many time about Bitcoin hard fork, if I have the Bitcoin in the wallet, how can I get the new Bitcoin after the fork? Have I received it automation?
Me too, i heard many time already but i don't know what fork means, but i now i am very happy of a new learnings.
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If you don't know how to claim forked coins it would be easier to simply move it to an exchange that will support the fork
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So, in few words, If you see that it will happen a fork it will born a new cryptocurrency in both cases. The old cryptocurrency continues to exist in the market of crypto.
The difference is that in soft fork the new cryptocurrency has something in common with the old crypto.
When it happens an hard fork this new cryptocurrency change totally its structure, so, consequently it will became incompatible with the older one :).
Thanks for the useful answers.
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A fork is a creation of a new blockchain from one cryptocurrency. Fork happens when People want to modify its structure because they don't like how it works.
There are two forks. Soft and Hard one.
The Soft fork is when a part of blockchain is modified but it has something in common with the old blockchain. In this case you haven't to update your wallet or download a new one.
The hard fork happens when there is a complete modification of its blockchain.
In this case, you have to update your software or download a wallet that recognize the new blocks that are generated.
Very well explained. Thank you for such a great explanation and a very useful info.
You guys are a great help with a beginners like us :D