What is Hardfork? This is one of those terms that is quite confusing for newcomers to the cryptocurrency market. In this article, we will learn together the most basic information about the term hardfork.
1 – What is Hardfork?
Hardfork or hard fork is a term referred to in blockchain technology. This term describes a protocol change in the network that causes old blocks and transactions to be invalidated.
When a project hard forks a coin, the nodes or users of that network must upgrade to the latest version of the protocol software.
In this case, a group of nodes continues to use the old protocol software in parallel with the nodes that have updated the new protocol software. At this point, the split will occur into 2 different chains.
You can understand in the simplest way a hard fork is the creation of a different version of the coin that overcomes the previous disadvantages of the old version of the coin. The creation of a new version is still based on the old version.
2 – Highlights of past Hardfork events
2.1 – Ethereum (ETH) Hard fork
ETH today is the ETH hard fork. The developer of ethereum (ETH) has split the blockchain into 2 distinct chains. The first chain in the past has had problems affected by hackers, which is ETH. The second chain is the original ETC ethereum primitive chain.
2.2 – Hard fork Bitcoin Cash (BCH) and Bitcoin Gold (BTG) from Bitcoin (BTC)
On August 1, 2017, the focal event of the crypto community had many controversial discussions with the Bitcoin (BTC) community and at this time Bitcoin Cash was officially hard fork from Bitcoin (BTC).
Following that on October 25, 2017, the Bitcoin Gold (BTG) hard fork was born to change the way miners compete for rewards. However, at this point, BTG is still quite nestled compared to BCH.
2.3 – Hard fork Bitcoin Cash ABC (BCHABC) and Bitcoin cash SV (BSV)
On November 15, 2018 bitcoin cash ABC and bitcoin cash sv were forked from the bitcoin cash blockchain. This event has been interested and discussed by the community on many forums in 2018.