Steemit Crypto Academy Contest / S4W4 - Blockchain Forks
Can't believe Steemit Engagement Season 4 is almost over. On this occasion I try to take part in the Challenge in Week 4 held by SteemitCryptoAcademy. To see the original post, click here Steemit Crypto Academy Contest Season 4 Week 4 -Blockchain Forks.
A fork in the blockchain is a change in a protocol, which is the phenomenon of splitting the development path in the blockchain. The fork allows developers to create different developments within a platform. When a fork occurs, it is not uncommon for it to occur and bring up new crypto aspects. But not all nodes will follow the update that occurs.
When a fork occurs, the blockchain chain is separated and a new blockchain chain is formed and still retains the changes from the beginning. Not only in blockchain, there are forks, in applications and browsers on PCs and smartphones there are forks, because applications and browsers require updates.
Blockchain forks can be hard forks or soft forks, and that happens according to the decision maker. The decision makers are them be it developers, miners and full nodes. Sometimes a fork is used to test a process, but in crypto fork is more often used to implement to create a new asset with characteristics similar to the original.
A hard fork is a change or update to the blockchain protocol. Hard fork occurs because of changes that are not compatible with the previous version. So they require all users to change to the new rules. Changes do not conflict with the old protocol, so it is possible to run concurrently.
For transactions made before the hard fork occurred, it will still run, so that when you have coins or tokens in the old protocol, the new protocol will get the same number of coins or tokens. Here are some of the hard forks
Bitcoin experienced a hard fork on August 1, 2017 to become Bitcoin Cash (BCH). The reason for making BCH is because bitcoin transaction fees are considered too expensive. Behind BCH's motivation is the disapproval in the community accompanied by Satoshi's true vision for bitcoin.
When Satoshi first created Bitcoin it only had blocks with a capacity of 1 MB. Because 1 MB could not meet user demand, Bitcoin Cash was launched with a capacity of 8 MB to 32 MB.Bitcoin Diamond (BCD) was launched in November 2017 by distributing its coins differently from Bitcoin Cash. In Bitcoin Diamond distribute their coins by 10 times. Suppose you have bitcoin 0.2, then at the time of distribution in Bitcoin you get 2 BCD. The Bitcoin Diamond block size has also been increased to 8 MB.
Soft Forks are software changes that are compatible with older versions and can still communicate with older versions. Soft forks do not conflict with older versions and may run concurrently. Soft Fork has only minor changes to the blockchain network. Soft fork can only occur if all nodes make majority consensus first.
In a soft fork only one blockchain remains valid when a user adopts an update and a doft fork results in only one block. For example, soft forks are SegWit and non-SegWit, where both of these software use blockchain. SegWit is a way to increase the size of the block size limit on bitcoin by removing signatures on transactions. SegWit was first initiated by Dr. Pieter Wuille and he are bitcoin developers. SegWit was first tested on Litecoin. SegWit is activated with a User Activated Soft Fork. Where can use this feature without having to upgrade to the latest version.
The following is the difference between hard fork and soft fork.
| Hard Forks | Soft Forks |
|---|---|
| The rules are getting looser | The rules are getting stricter |
| Old nodes don't receive new blocks | Old nodes receive new blocks |
| The new protocol is no longer compatible with the old protocol | The new protocol is still compatible with the old protocol |
| Completely changing the blockchain network | Making changes without changing the network as a whole |
Steem and Hive experienced a hard fork on March 20, 2020. The reason for the harf fork was because there was no agreement between the developers, so Hive was born. For the hard fork, those who hold steem coins, will get the same number of hive coins. Suppose I have 1,500 steem assets, then I will get 1,500 hives, meaning this uses a 1:1 ratio.
After experiencing a Hard fork, the new and old chains have the same genesis block, while the only one that separates is the new block generated after the split. Here are the similarities:
On the block explorer page I typed the number 2 as the block I would look for, where I found the steem block mined on March 24, 2016 at 23:05. For that block has 0 transactions mined by @initminer.
When I did the same thing on the genesis block on Hive, I also found the same thing where it was mined on March 24, 2016 at 4:05 pm and had 0 transactions mined by @initminer.
From my discussion above, it can be concluded that the Steem genesis block and the Hive genesis block were both mined on the same day with 0 transactions and carried out by the same person.
To see a different new block I chose block 51,000,000 for steem and hive. On steem has 15 transactions and mined on 07 February 2021 by @smt-wherein and on hive block it has 162 transactions and mined time is on 03 February 2021.
There are two types of forks, namely hard forks and soft forks. A hard fork is a change or update to the blockchain protocol. Hard fork occurs because of changes that are not compatible with the previous version. While the software changes that are compatible with the old version and can still communicate with the old version.
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For that I invite other friends to be able to participate in the Challenge held by Steemit Crypto Academy Contest Season 4 Week 4 -Blockchain Forks. I invite @liasteem, @husaini, @jufrimj, @ridwant, @ayijufridar, @zainalbakri, @sofian88, @musdezal, @klen.civil, @irawandedy and other friends. Thank you admin and community moderators for the time and opportunity given and thank you to SC01 and SC02 for their support so far.
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well, detailed explanation, you have shown a perfect explanation of what hard and soft fork is, you have also shown the similarities between the steem and hive genesis block.
The article was well detailed, I wish you luck in your entry.
Thanks for the warm response, I really enjoyed listening to it. I explain as much as I can about blockchain forks, be it hard forks or soft forks. Maybe in my delivery there are still many shortcomings.
You explained in great detail the blockchain fork, I agree with you that the hard fork changes are not compatible with previous versions. Success for you.
Many coins were born due to Hard Fork, such as BTC to BCH, BCD and BTG and more recently LUNA to LUNC.
Thank you for your participation.
TEAM 1
Congratulations! This post has been upvoted through steemcurator04. We support quality posts anywhere and any tags. Curated by : @alee75Thanks support Sir @alee75 and @steemcurator04
Your presentation about both the hard fork and soft fork is good, both the two blockchain fork types are done to change and upgrade some features and capabilities of the network, but with the hard fork, the change leads to the birth of another token giving two chains which work separately while with a soft fork, it is only one chain that continues.
Good luck in the contest.
It's true what you say @temitopef.
Recently there was a Hard fork on LUNA and from the Hard Fork many new coins were born such as BTC to BTG, BCH.
Amigo excelente publicación y explicación, hiciste parecer muy fácil el tema de las bifurcaciones, para muchos este tema de las cripto academia son bastante complicados pero tuvimos demuestras que conocer el tema hace la diferencia.
Éxitos en el concurso.
Si queremos leer de varias referencias y comenzar con nuestras propias palabras, entonces podemos escribirlo en nuestro propio idioma. De hecho, si observa el tema en Crypto Academy, es difícil, pero si lo hace, será fácil.
Creo que ese el norte, investigar, leer y luego la publicación nos saldrá de natural.
Saludos??
Memang luar biasa pengetahuan anda tetang kripto, kita ikut merasakan dampak hardfork steemit dan hive.... Sukses selalu
Saya masih banyak belajar @abialfatih, hanya mau membaca saja. Dengan banyak membaca kita dapat mengaplikasikannya sendiri.
Iya benar seperti yang anda sampaikan.
Steemit dan Hive dampak dari hard fork
Your well detailed explanation shows a perfectly what hard and soft forks are, you did a very good job also by showing the similarities between the steem and hive genesis block.
I wish you luck in your entry.
Thanks for the support and I'm really happy to hear that guys. Of course I hope for the best and I publish to the best of my ability.
Yes they are comparable to soft forks. However , upgradation of operating systems can be compared to hard fork.
Actually the hardfork causes gross changes in the protocol so much so that validity of previous blocks is altered .
Softfork doesn't require all nodes to upgrade but only majority of nodes need to upgrade .
You are right soft fork is backward compatible so new nodes can communicate with older nodes .
Good luck
I try to explain as best I can, if there are shortcomings in my delivery, I also ask for criticism for my future improvements.
Actually i shared my understanding of the concept with you . I haven't critisized anywhere . You have written a good quality post .
Thank you for the warm welcome, I really hope for criticism and suggestions for my future progress.
You have used easy to understand language in your post . I learned alot about hardfork and softfork.
Thank you for the opportunity time. I'm trying to define it as best I can mate.