What is the definition of a blockchain fork in the context of cryptocurrency?

1 answers

• Dec 15, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, defines a blockchain fork in the context of cryptocurrency as a situation where the blockchain splits into two separate chains. This can happen due to various reasons, such as a software upgrade or a disagreement among the community. Forks can be either hard forks or soft forks, depending on the level of compatibility between the two chains. Hard forks result in the creation of a new cryptocurrency, while soft forks allow the two chains to coexist. Forks can have a significant impact on the cryptocurrency involved, as they can lead to changes in the transaction history and community dynamics.
  641321