There are several good explanation here what is hard fork.
But I think that it is important to note that they do not happen just because they can and someone wants.
Forks is attempt to upgrade chain. Upgrade means to change it in such way that it benefits the chain.
In case of BTC there has been a lot of talk about how slow and expensive the transaction are thus the need for change.
But the fork is dependent on community, community has to decide if it will happen, the most say so is given to those who has the most mining power.
I hope that I did describe it accurately enough to help with understanding.
Topic: What is a hard fork (Read 598 times)
I also want to know what is hard fork, listen to your explanation or do not understand
There are many explanations, if we sum them up, you will get the most accurate answer, here, we learn from each other, sharing knowledge is a necessity.
I think the problem about hard fork is often discussed, and also often asked. but no problem, I will explain a little. hard fork is the work done by the developer of a cryptocurrency to secure the crypto network so that it can adapt to more and more users. by creating a new app, so users need to update it. otherwise the coin transaction will not work properly.
Let us use Microsoft Word for example. Microsoft frequently releases new versions of Word. Each version attempts to be backwards compatible and retain the ability to read and edit older documents. However, often older versions of Word have great difficulty in reading documents created in one of the newer versions. So if you create a document in Word 2007 and your buddy edits and saves it in Word 2013, you may have problems reading it. Despite the assumption that its going to be the same document, you two have created a fork in your document.
i hear this term often too, i guess its like an update of version like computer ?
A hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software. So, those who were still running the old version of the software will see the new transactions as invalid.
The hard fork is split into two to have a new value-added coins again. And you will get it free when you have Bitcoins hold on a supported wallet. You will receive it depending on your holding Bitcoins (1: 1). So far there have been two hard forks and one is happening now. So expect the arrival of your BTG when you hold bitcoins on supported wallets
I'm a newbie to crypto world & I think it's a great help to all the newbies if we can make a discussion on hard forks.
Thanks
a hardfork in laymans term basically is an upgrade of the blockchain software that causes a split of chain just like what happened in bitcoincash, on the contrary a soft fork is also an upgrade of the software but it does not split the chain it only enhance the speed of the transaction process.Thanks
please don't give false information about something you do not understand.
splitting has nothing to do with the fork being hard or soft! splitting will happen only when not-everyone agrees with the fork. a hard fork can be as smooth as a soft fork with enough support and a soft fork can be risky and end up splitting if it has no support.
soft fork also has nothing to do with "speed of transaction process"!
I'm a newbie to crypto world & I think it's a great help to all the newbies if we can make a discussion on hard forks.
Thanks
a hardfork in laymans term basically is an upgrade of the blockchain software that causes a split of chain just like what happened in bitcoincash, on the contrary a soft fork is also an upgrade of the software but it does not split the chain it only enhance the speed of the transaction process. Thanks
i hear this term often too, i guess its like an update of version like computer ?
A hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software. So, those who were still running the old version of the software will see the new transactions as invalid. 
As simply, hardfork is an upgrade. This upgrade for example by raising the capacity of Block Bitcoin for example from 1MB to 10MB. it is done to support the transaction process more and more.
A hard fork is a loosening of BTC's consensus rules (such as the block size in the case of Bitcoin Cash and SegWit2x) which results in a chain split.
This will be two separate blockchains, which will both share the same history until the time of the split. After the split happens, they will continue on different paths. The chain which loosens the consensus rules (the new chain) will follow their new consensus rules, while the old chain follows the previous consensus rules.
Because the chains share the same history, all users who held coins on the old chain also hold the same number of coins on the new chain.
This will be two separate blockchains, which will both share the same history until the time of the split. After the split happens, they will continue on different paths. The chain which loosens the consensus rules (the new chain) will follow their new consensus rules, while the old chain follows the previous consensus rules.
Because the chains share the same history, all users who held coins on the old chain also hold the same number of coins on the new chain.
Nice explanation. Im newbie and dont have any idea about hard fork. Thanks for explaining it. The thing that I dont understand is why they are doing this? Are they not satisfied with the old btc?
i hear this term often too, i guess its like an update of version like computer ?
I also want to know what is hard fork, listen to your explanation or do not understand
Hard fork is like an update of an older version of a particular software to maximize its functionality or enhance its features to make it even more reliable and secure. In the case of bitcoin, the blockchain is the one that needs attention.
For more information regarding hard fork, you can visit on this site: http://www.investopedia.com/terms/h/hard-fork.asp
For more information regarding hard fork, you can visit on this site: http://www.investopedia.com/terms/h/hard-fork.asp
Hard Fork is a name for events that occur when the developer team of a cryptocurrency agrees to apply new features / changes to the programming system of the coin
Hard Fork can cause a mismatch between the old and new versions, so all cryptocurrency users need to update all the applications associated with this coin in order to keep it in good working order.
Hard Fork can cause a mismatch between the old and new versions, so all cryptocurrency users need to update all the applications associated with this coin in order to keep it in good working order.
Hard Fork is the name for an event that occurs when the developer team of a cryptocurrency agrees to apply new features / changes to the programming system of the coin. on the first hardfork this year there is a new coin that is launched bitcoincash. while on the second hardfork november later he will be launched bitcoingold.
There is a another hard fork coming in November (segwit 2x) So does it means this will reduce the block size of the current & increase the transaction speed?
Hard Fork is the name for an event that occurs when the developer team of a cryptocurrency agrees to apply new features / changes to the programming system of the coin. on the first hardfork this year there is a new coin that is launched bitcoincash. while on the second hardfork november later he will be launched bitcoingold.
Hard fork is a term used for splitting, the current coin which is bitcoin splits into something new which is bitcoin gold. The new coin was made with some development, they were proportional in valuel but going into different track. Last August 1, hard fork happened where bitcoin was split into two known as Bitcoin cash. Bitcoin holder during that time recieved 1:1 of their BTC. Hard forlk also serves as an opportunity to buy big amount of coins because of its audden decrease in value
A hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software. You can think of a hard fork as an expansion of the rules. A new rule that allows block size to be 2MB instead of 1MB would require a hard fork.
Could you please explain how can this affects the market price?
I'm not very familiar with BCH hardfork, but it is obvious that people are going to withdraw their funds from altcoins (leaving them to drop) to put everything in BTC as to get as much of the new coin as possible (free money). So BTC price increases whilst all other coins find a decrease. Only more established coins like ETH can potentially withstand this.
I think and this shouldn't be taken as final. That during the actuall fork BTC price dropped significantly and made a recovery in the days/weeks after.
Most likely this is because of that the tokens are received and so people rush to buy up the altcoins they left behind for a cheaper price.
You can also take a look at marketcap history to see what happened before and after the last hardfork.
IMO hardforks are a bit of a shame to witness as it is essentially a community split. Especially since BTC is still rooting itself in the world it also sparks confusion to newcomers.
It can be intimidating especially when you try to get into BTC during a hardfork since you don't know what everyone is talking about.
A hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software. You can think of a hard fork as an expansion of the rules. A new rule that allows block size to be 2MB instead of 1MB would require a hard fork.
Could you please explain how can this affects the market price?
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