What is a Hard Fork?

Blockchain technology is changing how we think about data, security, and decentralized systems in a world where technology is advancing rapidly.

At its core, blockchain is a secure and transparent way to record transactions across multiple computers, ensuring that each entry is immutable and verifiable.

Blockchain is constantly evolving, and one important concept is a “hard fork.”

A hard fork is a significant change or upgrade in the blockchain world that requires all users and nodes who support it to upgrade to the new version to continue participating in the issuer’s vision of a new network.

Users who do not agree with the new vision, or just wish to remain on the old network are free to do so by simply not upgrading to the new version.

The Qtum Foundation developers can’t directly control the network. There are no back doors or hidden switches used to pause the network or blacklist addresses.

We rely on community confidence to support our updates, and users do this by upgrading their nodes.

Once the majority of nodes are upgraded to version 24.1, the hard fork should succeed.

At the time of this article’s writing, over 70% of the nodes (and biggest service providers) are reporting version 24.1, so the hard fork is likely to happen without problems.

More: https://coinmarketcap.com/community/post/331875835

3 thoughts on “What is a Hard Fork?”

  1. It is a better utensil to eat your spaghetti with compared to a soft fork

  2. It mostly means a big chance for you take profit during hard fork as it could rise to top any time.

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