Hardfork vs. Softfork
By a basic Change to the Code of a crypto-currency, a Fork. This usually happens when new functions are built-in or weak spots eliminated. Because most of the block chains Open-Source, and democratically functioning, requires that each small change to the Blockchain consensus, but may not always arise, because not necessarily each with each agree. Due to these problems in the consensus determination, Hard Forks, which allows the groups of people who want to make the code changes to create your own Version of the Blockchain. The people who are not but for this code change, can use the old Chain as before, so there will be a new Version of the Chain, the old one remains as was before. After a Hardfork the two different block chains are not compatible with each other. In addition, the Community split, investors, and developers in two bearings are in the case of a Hardfork.
However, if there can be found a consensus, it is called a Soft-Fork that is different to the extent of the Hardfork that he has no new Chain is created, but only an Upgrade to the Code is performed.
Ethereum itself is a Fork
The most important Hardfork of Ethereum was created in July of 2016, as the Ethereum Community voted in the Wake of Hacks to make it on the Blockchain back. In the DAO-Hack at the time, $ 50 million were stolen. Since the Community has not unanimously in favour of this “Undo”, there was a Hardfork at the Ethereum (ETH). Ethereum was, so to speak, to the new and Ethereum Classic to the old Version of the “original Ethereum Chain”. The majority of the Community and developers decided, however, to Hack the adjusted Version of the Chain: Ethereum (ETH). This fact is also reflected in the rates of ETC (currently 5$) and ETH (currently 158$).
The upcoming Forks
In the near future there will be some further Hardforks of Ethereum:
Classic Vision Hard Fork – 11 January 2019
Ethereum Nowa Fork* – 12 January 2019
Constantinople Fork – 16 January 2019 (or sooner)
*Caution. When Ethereum Nowa Fork is likely to be an attempted Scam.
Ethereum Classic Vision is a Hardfork of Ethereum on 11.01.2019 go to the Start. The full introduction of these Forks should happen over the year 2019. There are a total of 4 steps of implementation are planned to be completed by the fourth quarter of 2019.
The second Fork is Ethereum Nowa, against the Scam suspicions were raised because the images of the development team on the website, free stock photos of people were (the now removed) and it is a Phishing-Wallet. We of crypto Ticker rates strongly depend on this Fork.
The last Fork in January of Constantinople Softforkfor the 16.01.2019 recognized. This date was announced by the Ethereum developers Afri on Twitter. Afri confirmed on Twitter that Ethereum will be by the Fork faster and more efficient. In addition, the Reward for the Miner 3 the ETH is reduced to 2 ETH. Due to this reduction in the Launch of the Forks was delayed.
Follow us on Twitter, Instagram, Facebook, Steemit and the Telegram News channel or Newsletter .
You would this article like to comment on? Then come to our Telegram discussion group .
Do you have a passion for the topics of Bitcoin, Blockchain and crypto-currencies? You have Talent as a writer and desire to work in a Team with other crypto-enthusiastic people to work? Get in touch with us and become part of our team! Send us a short application to email@example.com! We look forward to your applications.