Assets, Ethereum

What Does Ethereum Hard Fork Mean?

When Ethereum hard forked on July 20, 2016, the blockchain split into two separate ledgers, the original and the new forked version. This hard fork occurred when members of the Ethereum community disagreed on how to best solve the issue of scalability within the network.

The original blockchain, now known as Ethereum Classic, continued with its original code, while a new blockchain was created with a new set of rules and code, which is now called Ethereum.

The hard fork was a necessary change in order to allow for future growth of the Ethereum network. By creating a new blockchain with different rules, it allows for different types of transactions and applications to be built on top of it.

This will help to solve the issue of scalability that has been plaguing Ethereum since its inception.

The hard fork also created a new currency, called Ether, which is used to power the Ethereum network. This currency can be bought and sold on exchanges, and is used to pay for transaction fees and other services within the network.

What does this mean for investors and users of Ethereum?

For investors, the hard fork creates a new investment opportunity in the form of Ether. For users of Ethereum, it means that they can continue to use the platform as normal and build applications on top of it without worrying about scalability issues.

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