
lets say in DAO attack ethers were gone ,then you said that by using hard fork they rollback the all nodes ,if this happens then how ethers will comeback?but blockchain is immutable then how they rewrite it?they are in separate blockchain then how they can maintain transparency if one person is on two different blockchain networks?
summaryTYPES OF FORKSA codebase fork and a live blockchain fork are terms commonly used in the context of blockchain technology to describe different aspects of the development and evolution of a blockchain network. Let's break down each of these concepts and explore how live blockchain forks are further categorized into intentional and accidental forks, and how intentional forks can be either soft or hard forks.
Codebase Fork:
Live Blockchain Fork:
Live blockchain forks are further divided into two main categories:
a. Intentional Fork:
i. Soft Fork:
ii. Hard Fork:
b. Accidental Fork:
In summary, codebase forks involve creating a new project based on existing blockchain source code, while live blockchain forks involve the splitting of an existing blockchain into two separate chains due to changes in the network's protocol. Live blockchain forks can be intentional (soft or hard forks) or accidental, depending on the cause and intention behind the fork.
Summary...............................
Highlights
📝 Forks in our lives represent big decisions that can completely change our path.
📝 In cryptocurrency, a fork refers to two potential ways a blockchain could continue.
📝 Soft forks require no changes from miners, while hard forks require updates to continue mining.
📝 Ethereum Classic was created due to a fork in the Ethereum blockchain.
📝 Litecoin and Bitcoin Cash are examples of forks with specific changes to improve scalability and transaction speed.
Key Insights
🧐 Soft forks are considered more dangerous in cryptocurrency as they can make major changes without agreement from all participants.
🧐 Ethereum Classic is an example of a fork that resulted from a controversial decision to revert a blockchain transaction.
🧐 Litecoin and Bitcoin Cash are forks that made specific improvements to increase transaction speed and scalability.
A soft fork in crypto doesn't require miners to do anything different, while a hard fork requires miners to make changes.
Ethereum Classic was created through a hard fork. Vitalik Buterin believes soft forks are more dangerous as they can make major changes without agreement.
Litecoin and Bitcoin Cash are examples of successful forks. Forks will continue to happen in the crypto world as projects progress.