Asignment submitting on blockchain fork|hard/soft

Evening friends,

Today i found it an opportunity to be part of this great academy session ever since i left and i am pleased to be part of this lecture which i have completed it assignments. My sincere greetings to the lectures in charge.

Blockchain Fork

This is a situation where in a particular blockchain is been splited/divides into two individual path forming a change in rule or protocol.

there are two types of blockchain forks namely

• Hardfork and
• softfork

HARK FORK

Hardfork are blockchain technology which are radical to the transformation of a network rule.Thats is hardfork we say is when nodes,software of a newly coded or invented version of a set chain or blockchain,making the older version unacceptable,thus causing user to upgrade to its newest version,this fork are form as a result un-concluded issue among the blockchain inventors and share holders,which then resulted to split into dual one with the old nodes while the order with the new node.
examples is when Bitcoins Hardfork to Bitcoins cash(bch)this happened in 2017 when Bitcoins divided into two chains due to some intense arguments over series of issues on the blockchain.Ethereum and Ethereum Classic.

SOFTFORK

Just as the name implies softfork one would say it not very intense,yes from all indications it rear having two Hardfork one must or should be softfork,thus in softfork no necessarily new nodes or version pa say in the blockchain,but few improvements are been done over board(blockchain) this involves the addition of new protocol or rule which are not affecting the already existing rule,hence there is no need for transformation of network but rather it just to make adjustments and input innovation where necessary.examples are when new protocol are not affecting the already existed rule,it could be a soft fork when the new rule states that the blockchain size will be concised from the current 1MB to 800KB,thats a slight reduction.segregated witness.

From both explanation we could come up with definition on what hard and soft fork are all about.

• Hardfork; this can be defined as a total change of node of a network protocol in order to satisfy it self resulting to the conflict of the old protocol we will say that Hardfork is forward Compatible.

• Softfork; this can be define as the addition of new protocol to the already existing node which isn't causing any effect in the blockchain protocol existed,well said it a compatible upgraded existing node and softfork is compatible backfward.

BITCOINS CASH

From the examples on Hardfork we noticed that BCH was established as a result of fork from it parent blockchain named Bitcoins due to it arguments between it member and this was established in 2017,Bitcoins cash is a cryptocurrency or altcoin which has a supply limit of about 21000000 bch and split ratio of 1:1 despite it split with Bitcoins it was still splited into Bitcoins sv. Thus Bitcoins cash hash function is SHA-256 and it split height three years ago was #478559 in the year 2017 on the first of August.puting more light it was noticed thats bitcoin cash was like a leasest version of the Microsoft word inwhich create its own document which can't be open through older or aged versions hence Bitcoins cash is in the oder of hard fork i.e its hard fork in nature.

segregated witness

The segregated witness (sigwit) announced in 2017 are use to implement transaction transformation softfork that is the increase the size of blockchain by eliminating signature data from the Bitcoin transaction in the case where some path of the transaction are removed hence freeing up the blockchain and causing increase in it capacity and memory space to perform more transactions in the block,therefore the segregated witness is all about separation of signatures on any transactions,which witness is known as the transactions signatures,we can also say that segregate is split,it is also a softfork in operation.

Differences between both forks

Hardfork	Softfork
They have entirely new protocol.	no new protocol.
There is need to upgrade new version.	not necessarily so.
new currencies are form	no new currency formed
The are forward Compatible.	the are backfward compatible.

Steem Hardfork

One may wondered what do you mean,does it mean steem also Hardfork? Yes ! Steem has pass through such trouble ,this was as a result of up roaring issues amongst the blockchain members,steem as we know is a cryptocurrency and also a blockchain based social media which rewards users for blogging in there blockchain,overtime as it grew and attend to more fame,issues and disagreement came up resulting to the seizing of token of some boardmember,which then brought divisions unconclusively,hence resulting it is split into two,which was known as hive blog.

Hive

This also is a cryptocurrency and a blockchain based social media which rewards users for blogging in there blockchain,but unlike steem being it parent blockchain,there are slightly different between it,hiveblog also have a branch it runs name Ecency,it also another subsidiary blockchain of hive where all your post in hive can be found in ecency but it has different voting measures and anyone thats sign up for the both must definitely put up an intro post in each.from all indications hiveblog dobt really have much differences between steem Despite its fork of steem due to it disagreement with members,nonetheless HIVE Blockchain tech was one of the first widely sale cryptocurrency miner which wqs listedt in Toronto Venture Exchange in the year 2017, with the ticker symbol of HIVE. Hundred percent green energy was use in mining Bitcoin and Ethereum,and HIVE work hard to create to life time stakeholders/shareholder rite and values just with its strategic HODL strategy, bring value to market and build a uniquely blockchain.

SIMILARITY BETWEEN BOTH
There are quite some similarities between both blockchain which are namely;

• Same signing up protocol or procedure but not as intense to thats of steemit.

• Same number of keys methods,private key ,posting key,memo and master etc.

• the same display arrangement

• the wallet arrangement are the same it just the change of name.

• the possess thesame post pay out 7 days

• the possess communities but thats of hive is called social.

In summary based on the few explanations and research i have come to realise thats must forks on blockchain chain are not as a result of peacefully negotiations but a result of disagreement,furthermore despite some comes with it benefits to the Masses while some may actually reduce in profit etc.

@awesononso