Crypto FAQ: What is a blockchain hard fork?
- Defn: hard fork
[noun: adjective "hard" + noun "fork"]
In the context of cryptocurrency, a hard fork (or hardfork) refers to a radical change to the blockchain protocol that makes previously invalid blocks and transactions valid, or vice-versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.
For example, the Bitcoin Cash (BCH) blockchain executed a hard fork from the Bitcoin (BTC) blockchain at block 478558 on 1 August 2017, where for each bitcoin (BTC) an owner got 1 Bitcoin Cash (BCH). In turn, the Bitcoin SV (BSV) blockchain executed a hard fork from the BCH blockchain at block 556766 on 5 November 2018, where for each BCH an owner received 1 BSV.
Compare: blockchain Contrast: N/A
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