Frequently Asked Question

A fork in the blockchain creates an alternate version of the existing blockchain, which runs simultaneously on different parts of the network. A hard fork is a type of fork that validates previously invalid transactions and vice versa. However, for a hard fork, all nodes (computers connected to the blockchain network) and users must upgrade to the latest version of the protocol software. On the other hand, a soft fork only invalidates previously valid transactions, and old nodes recognize the new blocks as valid, making it backward-compatible. A soft fork requires most miners upgrading to enforce, while a hard fork requires all nodes to agree on the new version to be implemented.