HARD-FORK AND THEIR TYPES

Hello to everyone in this wonderful community today and on this great platform at large. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

I welcome you all to yet another beautiful day on this platform and I want to have this in mind that we are all doing so well and I hope we all are having a stress-free day at our various work places.

Today I am here among you all to discuss about an important aspect on the topic that was treated yesterday. Yesterday we talked about the various types of airdrop distribution in which we made mentioned the Hard-FORK as one among the various types of airdrop distribution.

We only talked on the preamble aspect regarding the hard fork airdrop distribution. So today I am here to talk more about hard fork in blockchain as such the theme for today's discussion is THE VARIOUS TYPES OF HARD-FORK IN BLOCKCHAIN. As such I urge you all to sit tight and stay put as I begin the teaching for today. I wish you all a happy reading!

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If you were in my previous class we talked about hard fork in blockchain and what it entails but for the sake of those joining us today I will like to give a briefing regarding the concept hard fork in blockchain so as we can all flow together.

I will have to paraphrase it this way, hard fork in blockchain can be seen as an upgrade or advancement of features as related to the protocol of a blockchain network.

This is the ability by which a digital currency network protocol is being modified based on it characteristics and this changes or modification of the digital currency blockchain network protocol is what is refer to as Hard-Fork.

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Now when the Hard-Fork is carried out on a cryptocurrency blockchain network protocol, an entire new version is created and when this happens, the users or individuals that already have the previous digital currency prior to the Hard-fork get to benefit from the new development when an airdrop is distributed to individuals.

Haven said all of that, now let's us discuss about the topic of today which us the various types of Hard-Fork in blockchain.

The various types of Hard-Fork regarding the cryptocurrency blockchain network protocol are of two major types and these are the planned Hard-Fork and also the Contentious Hard-Fork.

THE PLANNED HARD-FORK

The planned Hard-Fork as the name implies is an upgrade that has been planned to be carried out at a particular point in time. When this is to be carried out, the individuals responsible or connected to the blockchain such as the community as well as those responsible for the blockchain development in other words are called the developers, so they all come together to schedule the upgrade before time.

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So this is strategically done prior to the Hard-fork initiation. With this everyone connected to the blockchain already know that there will be an up coming upgrade reading the blockchain at the scheduled time that has been set aside for the upgrade to take place. So with that a new version of the said asset is formed hence a new protocol is initiated.

THE CONTENTIOUS HARD-FORK

Now the Contentious Hard-Fork is a scenario that is noticed regarding a particular cryptocurrency asset whereby an argument is seen among the individuals concerned with the project and when the they refused to come to an accord, there is every tendency that the said blockchain will have to split alongside the individuals in question.

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So when that happens it means there would be two versions of such cryptocurrency asset but they may be certain differences that will give each of it a unique features that can be used to differentiate them.

So the Contentious Hard-Fork occurs when there is are loggerheads between individuals or developers regarding that said asset and if they do not come to terms, it will result to a split up and hence a new version will be created thereby dividing the asset protocol and the individuals involved.

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CONCLUSION

I will conclude by saying Hard-Fork do occur for either a better reason or an act of disagreement between individuals or developers connected to the blockchain. Either way another version is created regarding the blockchain network protocol and as such this can give rise to a new development depending on the terms of which the Hard-Fork is carried out.

So holders of the previous cryptocurrency asset tends to be eligible to receive the new digital asset regarding the said currency when it is being airdrop to users. So the basis of receiving the airdrop or being qualified for the airdrop depends on if a users is holding the previous version of the digital currency in his or her wallet.

Thank you all for having me today. I look forward to seeing you all in my next class but for now I say goodbye to you all!