Search our executive blockchain insights and services.
…Hard Fork A succinct definition of Hard Fork Hard ForkLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHARD FORKCopy linkShare on TwitterShare on FacebookShare on LinkedinHard ForkA blockchain hard fork is a significant change or upgrade to a blockchain’s protocol that is not backward-compatible with the previous version. This means that nodes (computers in the network) running the old version of the software will no longer be able to participate in the new blockchain, leading …
Learn More
…What Are Blockchain Forks? Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBlockchain13 Jun 2023|INTERMEDIATE|4 MIN READWhat Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and price of cryptocurrencies. Key Takeaways: A fork is a code modification that is similar to the original blockchain; the two ‘prongs’ comfortably coexist.A hard fork is a radical change in a …
Learn More
…What Are Blockchain Forks? Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBlockchain13 Jun 2023|INTERMEDIATE|4 MIN READWhat Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and price of cryptocurrencies. Key Takeaways: A fork is a code modification that is similar to the original blockchain; the two ‘prongs’ comfortably coexist.A hard fork is a radical change in a …
Learn More
…These generally are classified either as soft forks or hard forks, depending on how drastic the changes.A soft fork occurs when new changes or updates are applied that are still compatible with rules already in place, meaning the system is still able to run even with this new upgrade. Old nodes that haven’t undergone the upgrade are still able to communicate with upgraded nodes, and the upgraded nodes are still valid in the eyes of the old nodes. Soft forks are changes that aren’t radical.Ha…
Learn More
…Soft Fork A succinct definition of Soft Fork Soft ForkLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSOFT FORKCopy linkShare on TwitterShare on FacebookShare on LinkedinSoft ForkA soft fork is a backward-compatible upgrade to a blockchain’s protocol that is less disruptive than a hard fork since it doesn’t require a complete split of the network. It introduces new rules or conditions that are not present in the older version, but allows non-upgraded nodes (computers in the …
Learn More
…The hack was mainly due to the flaw of ‘recursive calls’, and about 3.6 million ether (worth ~$50 million at the time) were drained as a result. This event forced Ethereum to eventually hard fork, where the new chain rolled back the original chain prior to The DAO attack, restoring 70% of the stolen funds. The new fork was branded as Ethereum by the trademark-owning Ethereum Foundation, and the original non-fork Ethereum network was rebranded to Ethereum Classic after the hard fork. The ha…
Learn More
…Years of debate over how to scale Bitcoin by increasing the block size or relying on off-chain solutions like the Lightning Network ultimately led to a split in the community. In 2017, together with a group of developers, Ver initiated a hard fork to create Bitcoin Cash, aiming to preserve Bitcoin’s original vision as a fast, low-cost payment system. Bitcoin Cash is quicker and cheaper than Bitcoin, but internal conflicts and concerns over centralisation have limited its adoption. While both…
Learn More
…Artificial Intelligence (AI)Artificial intelligence (AI) is a branch of computer science that enables machines to perform tasks that typically require human intelligence, using techniques like machine learning (ML), neural networks, and deep learning to analyse large datasets and learn from them.Soft ForkA soft fork is a backward-compatible upgrade that introduces new rules to a blockchain's protocol, allowing both old and new versions of the software to coexist on the same network.Hard ForkA ha…
Learn More
…The dispute led to a hard fork in August 2017, splintering BCH from the original BTC. Below, we look at why two Bitcoin offshoots took very different paths. Key Differences Between LTC and BCH Litecoin Overview LTC is a pure peer-to-peer internet currency that enables instant payments to anyone in the world at nearly zero cost. Charlie Lee launched Litecoin in October 2011 by copying Bitcoin’s source code and adjusting its payment confirmation schedule and cryptographic algorithm, creating a f…
Learn More
…The hacker also stated that if any soft fork were planned, Ethereum miners would be bribed to not comply with it. Eventually, a second solution — a hard fork, which would turn back time and run Ethereum as it was before the hack — was executed on 26 July 2016 at block 192,000. The funds on The DAO moved to a different wallet, which allowed users to withdraw their funds.Key TakeawayThe DAO Hack occurred in June 2016, where an individual exploited The DAO on Ethereum and siphoned US$60 millio…
Learn More