coingecko (thumbnail mini)
Continue in app
Track prices in real-time
coingecko (thumbnail mini)
Continue in app
Track prices in real-time

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.

Share this with a friend!

Related Terms

Halving
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network.
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
Kimchi Premium
The kimchi premium is the price difference between South Korean exchanges and other global exchanges for bitcoin.
Off-chain
It refers to transactions occuring outside the blockchain and executed instantly.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.