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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

Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Initial Coin Offering (ICO)
Initial Coin Offering (ICO) is the equivalent of Initial Public Offering (IPO), where a company/cryptocurrency venture raises funds through crowd sales.
Miners
Contributors to a blockchain taking part in the process of mining.
Soft Cap
Targeted fund raising limit of an ICO
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