Hard Fork definition
Definición
A permanent divergence requiring all nodes to upgrade to the new protocol
Ethereums 2016 hard fork created Ethereum Classic after the DAO hack, illustrating how hard forks resolve disputes but risk splitting communities and reducing network effects. Hard Fork Examples: Bitcoin Cash (2017): Increased block size from 1MB to 8MB. Monero (2018): Privacy enhancements against ASIC mining. Cardano (2021): Alonzo upgrade for smart contracts. Risks and Benefits: Benefits: New features, security patches; Risks: Chain splits, replay attacks, community division.
Ethereums 2016 hard fork created Ethereum Classic after the DAO hack, illustrating how hard forks resolve disputes but risk splitting communities and reducing network effects. Hard Fork Examples: Bitcoin Cash (2017): Increased block size from 1MB to 8MB. Monero (2018): Privacy enhancements against ASIC mining. Cardano (2021): Alonzo upgrade for smart contracts. Risks and Benefits: Benefits: New features, security patches; Risks: Chain splits, replay attacks, community division.
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