Tag: community governance

Demystifying Crypto Hard Forks: Everything You Need to Know

Understanding the Basics

Cryptocurrency hard forks have become a common occurrence in the digital asset space. But what exactly are they? Simply put, a hard fork is a radical change to the protocol of a blockchain network that results in the creation of a new cryptocurrency. This can happen for various reasons, such as disagreements within the community over the direction of the project or the need to implement new features or improvements.

The Forking Process

During a hard fork, the existing blockchain is split into two separate chains, each following