Forks are relevant in the blockchain landscape as they represent a way for a blockchain network to evolve or make changes to its protocol. There are two main types of forks: soft forks and hard forks.
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Soft forks are backward-compatible upgrades that tighten the rules of the blockchain. They require the majority of the network's hash rate to enforce the new rules, allowing for a more seamless transition.
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Hard forks, on the other hand, are not backward-compatible and create a permanent divergence in the blockchain. They occur when there is a fundamental change in the protocol that is not recognized by older nodes in the network. This can lead to the creation of a new cryptocurrency, as seen with the creation of Bitcoin Cash from a hard fork of Bitcoin.
Forks can be used to implement new features, fix bugs, or resolve disputes within the community. They play a crucial role in the governance and development of blockchain networks.
