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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

Custody
Protective care or guardianship of an asset.
Token Generation Event (TGE)
An event in which new tokens (ussually on a smart contract platform) are created and distributed to the public.
Circulating Supply
An approximation of the number of coins or tokens that are currently not locked and available for public transactions.
REKT
A shorthand slang for “wrecked”, typically describes bad trades that results in losses.
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