Blockchain

Why does Crypto Space demand hard forking?

Most people had good vibes for blockchain technology in its nascent stage of development; however, with time, as the technology scaled, vulnerabilities started surfacing. It was back then when the concept of hard forking started to make headlines. In most of the instances, the fork generally happens when the user base or developers anticipate future risks and they want to devise a technology for counter intuitive measures. 

soft-fork-vs-hard-fork-block-chain-crypto

Why is there a need for hard forking in the blockchain ecospace?

  1. Most of the time, long networks or chains pose a lot of risk to get simple work done. Such things make mining tough for people on the network. Hence, they can hard fork the network to minimize the mining potential and maximize benefits.
  2. Sometimes the technical stuff written in the smart contract might be botched or inefficient. Hard forking allows you to GCD rectify the same.
  3. Hard forking can also help recover from damage by setting up a replica network once the previous network is under attack.

GCD coins have been developed keeping in mind all potential threats and we have provisions for hard forking that we will introduce in our upcoming IEOs. 

Ravi Gupta

Ravi Gupta has extensive knowledge of AI, ML, and Blockchain Technology. He has been writing blogs and article on Technology from last 6 years and currently holding the position of CEO at Laurette Writers Hub Pvt Ltd

Recent Posts

Vi Customer Care Number, Enquiries and Complaints Numbers

Vodafone Idea (Vi) offers various customer care channels to address user concerns, whether related to…

2 weeks ago

Christmas Flowers: Adding Festive Charm to Your Holidays

Fresh Flowers are a beautiful way to celebrate the Christmas season, bringing life, color, fragrance,…

4 weeks ago

BTC at 62k, What Will Drive It Above and Beyond in 2024

After a long stretched sluggishness which lasted for months,  the buzz has returned back to…

1 month ago

5 Ways Blockchain Revolutionizes Cryptocurrency Transactions: Unveiling the Future of Finance

Hey there, crypto geeks! Have you ever liked to send and receive cryptocurrencies, though there…

1 month ago

Understanding Cryptocurrency: A Comprehensive Guide for Beginners

Cryptocurrency has become a popular topic of discussion in recent years. It has gained significant…

1 month ago

Crypto Trends 2024: A Look into the Future of Cryptocurrency

Cryptocurrency has come a long way since its inception, and the past year has been no…

1 month ago