CryptoTech

What is Hard Fork?

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The basis of every cryptocurrency is blockchain technology. A blockchain is a chain of blocks, i.e. a decentralized data-set responsible for accounting the transaction. Many devices connected to each other, forming a common network, are responsible for its maintenance. Hard Fork is the partition of the blockchain. It is carried out to update the security system in order to minimize the risk of unwanted hacking attacks on the network and to increase the storage capacity of individual blocks.

Hard Fork separates blockchain formation nodes into “new” and “old” ones. This creates a new token. One of the most significant Hard Fork in history was carried out by Bitcoin. The result was a new cryptocurrency: Bitcoin Cash.

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