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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.

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Related Terms

Total Supply
All the tokens and coins that will exist in a cryptocurrency network.
Exchange Traded Fund (ETF)
An exchange-traded fund (ETF) is a form of security that tracks a collection of securites such as stocks, bonds, index or cryptocurrency but tradeable like a single stock.
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
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