Topic: What is a hard fork - page 2. (Read 624 times)
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.
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 hard fork is a change in the blockchain protocol which forces all users to upgrade and that failure to update will result in the client’s incompatibility with the network. One example is changing the block structure. The term fork is used because this causes the blockchain to split, with one chain of users running the updated client and another chain of users running the old. Thanks
Hey. I think that hard fork is a good idea for fans of freebies. This idea worked with bitcoin cash, and now it will most likely work with bitcoin gold. But I think that this is most likely a crap, so I will not intentionally participate in it.
The hard fork is a way to split a Coins. So far the two hard-forks are Bitcoins and one is going to be on October 25. It will give life to a single currency and call it Bitcoin Gold. This is a good step for Bitcoins holders because they will receive BTG of 1: 1 I mean that your bitcoins will be 0.02BTC you will also receive 0.02 BTG.
Do I receive this 1:1 offer if I deposit my BTC in a exchange wallet like Bittrex? or should I transfer it to coinbase?
The most important of bitcoin's hard fork now is the risk losing your bitcoin on November. There is an good article related with bitcoin's hard fork now A Bitcoin Beginner’s Guide to Surviving the Bgold and SegWit2x Forks https://t.co/13PTJzn8TO
I think you must see it first to get good much knowledge of bitcoin's hard fork. Good luck
Thank you very much for your direction. I'll follow up.
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.
simple small differences in what you say make huge difference in the result:a hard fork is changing bitcoin's consensus rules which may result it a chain split.
The primary distinction that Core developers have drawn is that soft forks add rules and hard forks remove them. Personally, I don't think this is an ideal definition, and the BIP148 experience proved it to me even more.
The important thing is whether a fork is compatible with the original chain. That should be the primary distinction between a soft vs. hard fork, in my view. For example: Miner-activated soft forks (beyond a comfortable majority threshold for activation) are always compatible. These should be known as soft forks. User-activated "soft forks", on the other hand, are a priori incompatible. That is, they explicitly add new rules that will split from the original chain unless and until supported by a majority of the hash rate. Really, I think "UASF" is a misnomer.
Experts will argue both sides of this point, but I tend to believe that hard forks as currently defined (removal of consensus rules) will always cause a chain split. In a technical sense, even if 100% of users migrated to the hard fork chain (impossible), it is literally split from the original chain. It has no relationship to the original chain whatsoever; the "ledger" is merely a copy.
The hard fork is a way to split a Coins. So far the two hard-forks are Bitcoins and one is going to be on October 25. It will give life to a single currency and call it Bitcoin Gold. This is a good step for Bitcoins holders because they will receive BTG of 1: 1 I mean that your bitcoins will be 0.02BTC you will also receive 0.02 BTG.
Do I receive this 1:1 offer if I deposit my BTC in a exchange wallet like Bittrex? or should I transfer it to coinbase?
The most important of bitcoin's hard fork now is the risk losing your bitcoin on November. There is an good article related with bitcoin's hard fork now A Bitcoin Beginner’s Guide to Surviving the Bgold and SegWit2x Forks https://t.co/13PTJzn8TO
I think you must see it first to get good much knowledge of bitcoin's hard fork. Good luck
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.
simple small differences in what you say make huge difference in the result:a hard fork is changing bitcoin's consensus rules which may result it a chain split.
What is the process of changing into new blockchain?
Does all members should transfer their previous blockchains to new one or is it depend on user's choise?
the proposal comes out, then they do the coding, then choose a method for signalling support for it. bitcoin is decentralized so signalling is by upgrading your node to the newer version, adding some string to your "user agent" for example to support a proposal. for miners it is with changing the block versions. there are guidelines for it which you can find among BIPs (i don't recall all of them). Does all members should transfer their previous blockchains to new one or is it depend on user's choise?
and in a hard fork all the network should switch because it will not be backward compatible.
The hard fork is a way to split a Coins. So far the two hard-forks are Bitcoins and one is going to be on October 25. It will give life to a single currency and call it Bitcoin Gold. This is a good step for Bitcoins holders because they will receive BTG of 1: 1 I mean that your bitcoins will be 0.02BTC you will also receive 0.02 BTG.
Do I receive this 1:1 offer if I deposit my BTC in a exchange wallet like Bittrex? or should I transfer it to coinbase?
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.
What is the process of changing into new blockchain?
Does all members should transfer their previous blockchains to new one or is it depend on user's choise?
The hard fork is a way to split a Coins. So far the two hard-forks are Bitcoins and one is going to be on October 25. It will give life to a single currency and call it Bitcoin Gold. This is a good step for Bitcoins holders because they will receive BTG of 1: 1 I mean that your bitcoins will be 0.02BTC you will also receive 0.02 BTG.
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.
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
Thanks
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