Segwit and the fork - page 2. | Bitcointalksearch.org

odolvlobo

legendary

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Quote from: Inmydomain on June 15, 2017, 09:41:47 AM

Please could someone explain the concept of hard fork, soft fork and segwit.

What is the background? why is it happening? and what are the potential implications?

It's about compatibility. A fork occurs when nodes disagree on what blocks are valid.

A "hard" fork will occur when nodes start using software that now considers blocks valid that are considered invalid by current node software. If most nodes switch to the new software then old nodes will left behind.

A "soft" fork will occur when nodes start using software that changes functionality without the old software considering the new functionality to be invalid. Old nodes continue to function, but they are oblivious to the new functionality.

The segwit soft fork is achieved by hiding its functionality in an "anyone-can-spend" type of transaction.

ImHash

hero member

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Quote from: Inmydomain on June 15, 2017, 09:41:47 AM

Hi,

Please could someone explain the concept of hard fork, soft fork and segwit.

What is the background? why is it happening? and what are the potential implications?

Thanks

You are late to the party, anyways if you use the search box on the main page you'll get dozens of pages regarding all the issues in question.
I'll explain it in the shortest terms possible.

Core developers ( the same team working on bitcoin for almost 7 years) worked for years to improve the bitcoin network so they coded something called SegWit which is a fix for many things and it'll further improve the user experience and safety.

And there is this little fellow called Wu, he wants to have everything for himself, so he ought to hard fork the main version of bitcoin software and inject his sperms into it Cheesy

that is all you need to know really.

Inmydomain

member

Activity: 83

Merit: 10

Hi,

Please could someone explain the concept of hard fork, soft fork and segwit.

What is the background? why is it happening? and what are the potential implications?

Thanks

Topic: Segwit and the fork - page 2. (Read 2350 times)