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What Are Hard Forks in Ethereum?

A hard fork is a radical change to the protocol of a blockchain network that makes previously invalid blocks/transactions valid (or vice-versa). This requires all nodes or users to upgrade to the new version of the protocol software. Put simply, a hard fork is a software upgrade that is not backwards compatible. After a hard fork, all nodes running an old version of the protocol will no longer be recognized by the network.

Put simply, a hard fork is a software upgrade that is not backwards compatible.

Forks of all types—soft or hard—are typically done in order to add new features or functionality to a blockchain, or to reverse transactions (as in the case of a rollback). ETHEREUM FORKS: ETHEREUM FORKS:

The Ethereum network has undergone multiple hard forks, with the most recent being Constantinople. Prior to Constantinople, there was The DAO fork which resulted in the creation of Ethereum Classic (ETC). The DAO was a smart contract built on Ethereum that functioned as a decentralized investment fund. The fund was hacked and $50 million worth of ETH was stolen.

The Ethereum community was split on how to handle the hack, with some believing that the ETH should be returned to the investors, and others believing that it should be destroyed. This led to a hard fork and the creation of ETC.

NOTE: WARNING: Hard forks in Ethereum can be very risky. They involve changes to the underlying code of the Ethereum blockchain and can result in a permanent divergence from the original chain. This means that if you are running a smart contract or other application on the Ethereum network, it could be rendered inoperable after a hard fork. If you are considering engaging with a hard fork, it is recommended that you seek professional advice first.

The Constantinople fork was implemented in order to make improvements to the Ethereum network. The main goal of Constantinople was to reduce transaction costs and improve scalability. However, due to a security flaw, the fork had to be delayed.

Once implemented, Constantinople will be followed by another hard fork called Serenity which is planned for late 2019/early 2020. This fork will implement proof-of-stake (PoS) and will mark the final stage of Ethereum’s development roadmap known as Serenity.

What Are Hard Forks in Ethereum? – Conclusion

Hard forks are necessary changes to blockchains that are not backward compatible. This means that after a hard fork, all users must upgrade their software in order to remain on the network. Hard forks are typically done in order to add new features or functionality to a blockchain, or to reverse transactions (as in the case of a rollback).

The most recent hard fork on the Ethereum network was Constantinople, which aimed to reduce transaction costs and improve scalability. The next planned hard fork for Ethereum is Serenity, which will implement proof-of-stake (PoS) and marks the final stage of Ethereum’s development roadmap known as Serenity.

2 Related Question Answers Found

What Is Hard Fork Ethereum?

A hard fork is a radical change to the protocol of a blockchain network that makes previously invalid blocks/transactions valid (or vice-versa). This requires all nodes or users to upgrade to the new rules in order to remain compatible with the network. 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.

What Does Ethereum London Hard Fork Mean?

On January 8, 2018, the Ethereum network experienced a hard fork that resulted in the creation of a new blockchain and cryptocurrency called Ethereum Classic (ETC). The hard fork was the result of a disagreement among the Ethereum community over how to best handle the DAO hack. The DAO was a Decentralized Autonomous Organization built on the Ethereum blockchain that raised over $150 million in crowdfunding before it was hacked in June 2016.
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