#Hard Fork (Blockchain)
A hard fork is a radical change to the protocol of a blockchain network that makes previously invalid blocks/transactions valid (or vice-versa). It requires all nodes or users to upgrade to the latest version of the protocol software. Put simply, a hard fork is a permanent divergence from the previous version of the blockchain, and nodes running previous versions will no longer be accepted by the newest version. This essentially creates two separate blockchains going forward with their own set of rules.
When developers want to introduce new features or make significant changes to an existing blockchain’s codebase, they must create a hard fork in order for those changes to take effect on its network. A soft fork can also be used for minor updates which are backwards compatible with older versions.
The most famous example of this was Bitcoin Cash’s split from Bitcoin after disagreement between members over how best to scale it led many miners and developers away from it and towards Bitcoin Cash as an alternative solution – although both chains remain popular today. Hard forks have caused controversy in recent times due to disagreements within networks over proposed changes leading communities apart; however, they are necessary when seeking major improvements on established networks such as Ethereum Classic’s move away from Ethereum’s Proof-of-Work consensus algorithm towards its current Proof-of-Stake model.
To ensure successful implementation and adoption among participants on any given network prior to initiating any kind of hard fork, it is important for stakeholders involved in making decisions about these future upgrades come together and agree upon them before proceeding with further development work or implementation efforts. Additionally, investors should always keep track of upcoming scheduled hard forks so that they do not miss out on trading opportunities associated with them if desired outcomes occur post-forking event taking place successfully otherwise could lead them into losses due too sudden price fluctuations related specifically during such occasions only .
