You probably don hear about hard fork or soft fork before since when you enter this crypto space but wait…. You don understand wetin dem really mean?
In this thread I go explain Wetin the fork emself really mean then Wetin dem hard fork and soft fork also mean..
Wetin be ‘FORK’? So basically, a fork means a diversion or separation of something, even for normal fork wey we dey use chop you go see say dem dey separate even though dem come from the same place…
In relation to Bitcoin or Blockchain, a Fork can be defined as a separation of the network into different path when dem get disagreement about rules or when dem get need for some update in the network.
..Let me break it down
A Fork fit cause make the network separate into two different version wey dey different from each other and the users and miners go choose which one dem wan use, that is what we know as HardFork, but no be all Forks dey cause that separation…Some forks fit allow everyone to choose whether dem wan update and use am or not and the chain wey both of dem go dey use go still be one chain because it is compatible with the old rules and it is known as SoftFork
Accidental/Unintentional Fork And the Orphan Block ScenarioA Fork fit still happen on the blockchain by accident Azin dem no plan am, no be must say nah update abi change or protocol or rules Nahim dey cause forks.
For situation where be say two miners mine a valid block for almost the same time, e go cause division and confusion for the network because the chain go separate into two and the Nodes wey go validate the block go get confusion about which block be the latest and valid chain.
This type of fork no dey last long because dem get rule wey talk say nah the longest chain be the valid chain.
When the Nodes wey dey validate the short chain see the chain wey be the longest, dem go leave the short chain and continue validating the longer chain and that is what gives birth to the
Orphan Block.
The short chain wey dey discard Nahim dey be the Orphan because say dem no validate am and the transaction wey dey that kind of block dey go return am to Mempool.The key differences between HardFork and SoftFork be say..HardFork dey create new rules wey no dey compatible with the old one and the miners wey dey use the old software go reject any transaction with the new rule and therefore e go cause separation in the network thereby creating a different chain with different coin for the people wey don upgrade to the new software and the new coins go get their own value dufferent from the value of the original coin. When a Hardfork happen everybody wey get coin for the network before go get the same amount of coin on the new chain..
Whereas,
SoftFork dey create rules wey dey compatible with the old rules and e dey allow even the old Nodes wey never upgrade to be able to validate blocks and transactions wey dey use the new software but to make the SoftFork successful, you need a majority of the miners to support your changes because the Nodes dey only validate the chain wey long pass.
Types of ForkSo, the main types are:
•HardFork ;and
•SoftFork.
HardForkAs I begin dey explain am above, a HardFork nah permanent diversion of the Blockchain and e dey happen when the protocol changes no dey Compatible with the old software. A HardFork dey create a new chain wey dey different from the original chain and therefore the new coins wey dey the Hardforked chain dey different from the original coins, example of this kind Fork be that of
Bitcoin Cash(BCH) in 2017.
For a Hardfork to be successful, you go need a community consensus agreeing on the changes and if not e go just end up like how Bitcoin as dey right now.
SoftForkSoftFork as I explain am above, dey create a compatible rule wey go work with the network without creating a whole different chain. When dem get SoftFork, e no dey require make everybody get consensus on am to be successful rather e dey only require make majority of the miners dey support am.
A very popular example of SoftFork nah the
Segregated Witness (SegWit) wey happen also for 2017.
Forks dey part of Decentralization, e dey show say everybody get chance to participate in making decisions on the network even though maybe your decision wouldn’t have much power to influence the final decision because Majority wins, e still dey show say you get that opportunity to participate in the process of making the decision.
https://learnmeabitcoin.com/technical/blockchain/
