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
ERC-1155
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
Fiat-Pegged Cryptocurrency
Cryptocurrencies are pegged to an underlying asset.
Composability
Composability refers to the ability to combine different components of a software stack.
Futures
An agreement between two counterparties that obligates them to transact in the future based on the contract terms set.
Interested to stay up-to-date with cryptocurrencies?
Get the latest news, trends, and promotional materials in crypto by subscribing to our free newsletter.
Or check it out in the app stores
