Cryptocurrency and Blockchain Dictionary
A complete list of crypto definitions
Cryptocurrency and blockchain glossary
Commonly used terms in the world of blockchain and cryptocurrency
Terms commonly used in the world of blockchain and cryptocurrency
Fork – splitting the blockchain into two branches. There are two types of fork:
Soft Fork – a change to the protocol where only previously valid blocks or transactions are made invalid. Since old nodes will recognize the new blocks as valid, a soft fork is backward-compatible. Requires a majority of the miners upgrading to enforce the new rules.
Hard Fork – a radical change to the protocol that invalidates previously valid blocks or transactions. Sometimes, both the old and the new blockchain continue to coexist, separating into two different cryptocurrencies. Requires all the miners upgrading to enforce the new rules.
For example, Bitcoin Cash was created by hard forking the Bitcoin protocol; both cryptocurrencies coexist now.
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