Soft Fork
By CoinGecko | Updated on Aug 12, 2021
Due to the decentralized nature of peer-to-peer cryptocurrency netowork, any updates or changes must be agreed by all participating nodes. Such code changes in the blockchain occur via chain forks, whereby when the network virtually splits in 2, each following different sets of rules. A soft fork event refers to when a fork occurred but old nodes can still participate in the network.
Related Terms
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
Token Burn
An event in which tokens are verifiably removed permanently removed from circulation.
Market Maker
Participant of the market who creates buy and orders
Golden Cross
It is a bullish signal in technical candlestick pattern by comparing two lines of short-term moving average and long-term average. It is a golden cross when the short term moving average broke its long-term moving average.
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