Fork

In a fork, a new version splits off from the existing blockchain in order to function as a separate network from now on. Often a blockchain is “forked” when new consensus rules are to be implemented via a change in the source code. Either because of an error in the programming code or because an update is considered necessary. A further distinction is made between “Hardfork” and “Softfork”. In a hardfork, the newly created blockchain is operated independently of the original blockchain. Bitcoin Cash (BCH) is a prominent example of a hardfork. In a softfork, the new blockchain is accepted by the majority of miners and users as the new blockchain. The old blockchain is no longer maintained. This variant is often used for “updates” of the code.

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