{"id":464112,"date":"2022-06-16T21:00:13","date_gmt":"2022-06-16T18:00:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-a-hard-fork-in-crypto\/"},"modified":"2022-06-16T21:00:13","modified_gmt":"2022-06-16T18:00:13","slug":"what-is-a-hard-fork-in-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-a-hard-fork-in-crypto\/","title":{"rendered":"#What is a Hard Fork in Crypto?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b9ac887500\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b9ac887500\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-hard-fork-in-crypto\/#%E2%80%9CWhat_is_a_Hard_Fork_in_Crypto%E2%80%9D\" >&#8220;What is a Hard Fork in Crypto?&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-hard-fork-in-crypto\/#Hard_Forks_and_Bitcoin\" >Hard Forks and Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-hard-fork-in-crypto\/#Other_Hard_Fork_Examples\" >Other Hard Fork Examples<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWhat_is_a_Hard_Fork_in_Crypto%E2%80%9D\"><\/span>&#8220;What is a Hard Fork in Crypto?&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage alignnone size-full wp-image-811286\" data-pagespeed-no-defer=\"\" src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/06\/bitcoin-fork.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"A Bitcoin logo forking.\" width=\"1200\" height=\"675\"\/><\/p>\n<p>When a blockchain hard forks, a new blockchain is created from an existing one. Think of it like an off-ramp when driving on a highway: The interstate remains but a new road follows a different course.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Hard_Forks_and_Bitcoin\"><\/span>Hard Forks and Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hard forks occur when a group of developers or members of a crypto community become dissatisfied with certain characteristics of the blockchain. Reasons vary, but some possible causes for a hard fork to take place could be to change the size of the blocks, increase security measures, add new features, or even reverse fraudulent transactions.<\/p>\n<p>In order for a hard fork to take place, there must be a disagreement amongst the community and miners on the current protocol. Because the miners help facilitate transactions on the blockchain, they possess the power to implement a new protocol. If a large enough group of miners wanted to increase the size of Bitcoin\u2019s blocks from 8 MB to 32 MB then they could initiate a vote. This is how the first hard fork of Bitcoin, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoincash.org\/\">Bitcoin Cash<\/a>, was created.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>What Is Bitcoin, and How Does it Work?<\/em><\/strong><\/p>\n<p>Miners who wanted to create a larger block size (which would increase transaction speeds and lowers fees) proposed a vote to increase Bitcoin\u2019s block size. The vote was not favored by a majority of the current Bitcoin miners, so developers in favor of increasing the block size implemented a hard fork. Thus, Bitcoin Cash was born.<\/p>\n<p>Most hard forks resemble the blockchain they originated from. Other than a few tweaks, Bitcoin Cash is extremely similar to Bitcoin.<\/p>\n<p>Once created, miners and participants of Bitcoin Cash could exchange their Bitcoin for an equal value of Bitcoin Cash if choosing to embrace the new cryptocurrency.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Other_Hard_Fork_Examples\"><\/span>Other Hard Fork Examples<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since Bitcoin Cash was created, more and more hard forks have come around. Even Bitcoin Cash hard-forked into <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoinsv.com\/\">Bitcoin SV<\/a>.<\/p>\n<p>Other notable hard forks include <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ethereum.org\/en\/\">Ethereum<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ethereumclassic.org\/\">Ethereum Classic<\/a>. Due to a hack, developers and community members introduced a hard fork proposal to refund those that lost money to the hacker and to erase the hacking from the blockchain\u2019s history. The new fork is now known as Ethereum. Some decided to stick with the older, unaltered version which is now Ethereum Classic.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>What is Ethereum, and What Are Smart Contracts?<\/em><\/strong><\/p>\n<p>Even more recently, another hard fork occurred in one of the world\u2019s most valuable cryptocurrencies by market cap, Terra. Its native cryptocurrency Luna and its algorithmically backed stablecoin UST became battered as the result of a widespread selloff in crypto markets. The algorithm backing UST depegged from $1 and Luna subsequently lost value as well. Both lost nearly all their value.<\/p>\n<p>In an attempt to save the original ideas and goals of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.terra.money\/\">Terra<\/a> blockchain, founder Do Kwon proposed a hard fork to give the blockchain a fresh start. Now known as Terra Classic, the new hard fork has introduced a handful of changes with the promise of avoiding another catastrophe like the one in early May 2022.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>What Is the UST Stablecoin, and Why Did Its Price Fall?<\/em><\/strong><\/p>\n<p>It could help to think of hard-fork cryptocurrencies as cousins within the same family. For example, Bitcoin, Bitcoin Cash, and Bitcoin SV all share more similarities than differences. The same goes for Ethereum and Ethereum Classic or Terra and Terra Classic. All of these have a resemblance to their former blockchain, but, due to particular ideas, a hard fork was introduced to forge a new cryptocurrency.<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.howtogeek.com\/810014\/what-is-a-hard-fork-in-crypto\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;What is a Hard Fork in Crypto?&#8221; When a blockchain hard forks, a new blockchain is created from an existing one. Think of it like an off-ramp when driving on a highway: The interstate remains but a new road follows a different course. Hard Forks and Bitcoin Hard forks occur when a group of developers&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/06\/bitcoin-fork.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-464112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464112"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464113"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}