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Greetings SoMee Family
Today I will be teaching a very important topic BLOCKCHAIN FORK. This topic is rare and very important in the blockchain world. Please Don't skip this post
1. WHAT IS BLOCKCHAIN FORK
A fork is simply when a cryptocurrency splits into two different cryptocurrencies due to changes in the original cryptocurrency. Forks often happen when the coding of a blockchain or cryptocurrency is changed. When discussing forks, there are probably two types of forks, which are hard forks and soft forks. We will look at them later.
However, in a nutshell, a hard fork is when two blockchain networks are not compatible with each other, whereas a soft fork is when both the new and old versions of the blockchain network are compatible with each other.
Forks can sometimes be so complicated for users since they require the acquisition of new wallets, software updates, and also learning how to make use of the new system. In a nutshell, a fork is simply a division of a cryptocurrency, which often occurs. based on the disagreement that led to separation. As you keep on reading, you will get to know more about the hard fork and soft fork.
2. What are the differences between hard forks and soft forks?
2a. Soft forks are viewed as a more secure option that is backward compatible, ensuring that nodes that do not update to newer versions will still regard the chain as valid.
2b. A simple operating system upgrade on a computer or a mobile device can be compared to the distinction between hard forks and soft forks. All of the applications on the smartphone will continue to function after the upgrade with the new.
3. THE HIVE HARD FORK
Hive, on the other hand, was created on January 1, 2020, as a hard fork of the Decentralized Blogging Social Media Platform that separates itself from SoMee. Hive also rewards users with cryptocurrency just like SoMee. Hive cryptocurrency rewards include the Hive native coin and the Hive-backed Dollar (HBD).
the second image shows the genesis block of the hive
When a blockchain hard forks, the newly formed blockchains download the transaction history of the original blockchain and so share a common ancestor.
I hope you understand the concept. thank you for reading.
#SME #AweSME #crypto #someeofficial #SoMee #hive #learning #blockchain #forks
Today I will be teaching a very important topic BLOCKCHAIN FORK. This topic is rare and very important in the blockchain world. Please Don't skip this post
1. WHAT IS BLOCKCHAIN FORK
A fork is simply when a cryptocurrency splits into two different cryptocurrencies due to changes in the original cryptocurrency. Forks often happen when the coding of a blockchain or cryptocurrency is changed. When discussing forks, there are probably two types of forks, which are hard forks and soft forks. We will look at them later.
However, in a nutshell, a hard fork is when two blockchain networks are not compatible with each other, whereas a soft fork is when both the new and old versions of the blockchain network are compatible with each other.
Forks can sometimes be so complicated for users since they require the acquisition of new wallets, software updates, and also learning how to make use of the new system. In a nutshell, a fork is simply a division of a cryptocurrency, which often occurs. based on the disagreement that led to separation. As you keep on reading, you will get to know more about the hard fork and soft fork.
2. What are the differences between hard forks and soft forks?
2a. Soft forks are viewed as a more secure option that is backward compatible, ensuring that nodes that do not update to newer versions will still regard the chain as valid.
2b. A simple operating system upgrade on a computer or a mobile device can be compared to the distinction between hard forks and soft forks. All of the applications on the smartphone will continue to function after the upgrade with the new.
3. THE HIVE HARD FORK
Hive, on the other hand, was created on January 1, 2020, as a hard fork of the Decentralized Blogging Social Media Platform that separates itself from SoMee. Hive also rewards users with cryptocurrency just like SoMee. Hive cryptocurrency rewards include the Hive native coin and the Hive-backed Dollar (HBD).
the second image shows the genesis block of the hive
When a blockchain hard forks, the newly formed blockchains download the transaction history of the original blockchain and so share a common ancestor.
I hope you understand the concept. thank you for reading.
#SME #AweSME #crypto #someeofficial #SoMee #hive #learning #blockchain #forks
Greetings SoMee Family
Today I will be teaching a very important topic BLOCKCHAIN FORK. This topic is rare and very important in the blockchain world. Please Don't skip this post
1. WHAT IS BLOCKCHAIN FORK
A fork is simply when a cryptocurrency splits into two different cryptocurrencies due to changes in the original cryptocurrency. Forks often happen when the coding of a blockchain or cryptocurrency is changed. When discussing forks, there are probably two types of forks, which are hard forks and soft forks. We will look at them later.
However, in a nutshell, a hard fork is when two blockchain networks are not compatible with each other, whereas a soft fork is when both the new and old versions of the blockchain network are compatible with each other.
Forks can sometimes be so complicated for users since they require the acquisition of new wallets, software updates, and also learning how to make use of the new system. In a nutshell, a fork is simply a division of a cryptocurrency, which often occurs. based on the disagreement that led to separation. As you keep on reading, you will get to know more about the hard fork and soft fork.
2. What are the differences between hard forks and soft forks?
2a. Soft forks are viewed as a more secure option that is backward compatible, ensuring that nodes that do not update to newer versions will still regard the chain as valid.
2b. A simple operating system upgrade on a computer or a mobile device can be compared to the distinction between hard forks and soft forks. All of the applications on the smartphone will continue to function after the upgrade with the new.
3. THE HIVE HARD FORK
Hive, on the other hand, was created on January 1, 2020, as a hard fork of the Decentralized Blogging Social Media Platform that separates itself from SoMee. Hive also rewards users with cryptocurrency just like SoMee. Hive cryptocurrency rewards include the Hive native coin and the Hive-backed Dollar (HBD).
the second image shows the genesis block of the hive
When a blockchain hard forks, the newly formed blockchains download the transaction history of the original blockchain and so share a common ancestor.
I hope you understand the concept. thank you for reading.
#SME #AweSME #crypto #someeofficial #SoMee #hive #learning #blockchain #forks
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