Bitcoin Forum

can you please tell me what will happen in a hardfork ?
why is the hardfork need for a coin?

Hi dilshan :)
The fork is necessary because Bitcoin is getting too popular !  ;)
Simply put, a so-called hard fork is a change of the Bitcoin protocol that is not backwards-compatible; i.e., older client versions would not accept blocks created by the updated client, considering them invalid. Obviously, this can create a blockchain fork when nodes running the new version create a separate blockchain incompatible with the older software.

When the hard fork does happen, if your Bitcoin isnot stored in an exchange, you will not need to do anything. If you are currently hosting your Bitcoin is an exchange like CoinBase, you are beholden to those companies to do the right thing when Bitcoin forks: allow you access to both currencies. It might not happen immediately or might not happen at all. If you have your Bitcoin in an offline wallet stored in a vault somewhere (as is recommended) with no intentions of selling your newly cloned Bitcoin, then no worries.

In the upcoming Hardfork, there will be introduction of Bitcoin Gold in the market. Hardfork is not an easy term to understand but you can simply call it an upgrading in the system and introduction of new cryptocurrency with enhanced features. Right now, Bitcoin Gold or BTG is coming in the market due to which one can see the rising value of Bitcoin and one of the prime factors that can be noted down for such increase in price is that free BTG to Bitcoin holders.

in a hard fork an upgrade is added to a project. there is no consensus on what to call hard fork but usually not being backward compatible means it is a hard fork.

in a cryptocurrency, hard fork is when you change something that makes previously invalid rules, valid.

a coin is a program, a lot of lines of code. sometimes you need to "upgrade" that code to fix a problem, or add additional features, solve some issues,... so you make a hard fork.

Great simple explanation !
There may not be as much noise around BTG, but I believe that the current pump in the price of BTC is due to the community buying more BTC to get more BTG. In my opinion, they just need to continue to focus on their decentralized BTG and I think that they'll be fine. That's just my opinion. I could be very wrong, but I really like the idea of truly decentralizing Bitcoin.

thank you all for your information.. this very helpful for me..  :)

fork helps make bitcoin less public accessible.