A Fork in the cryptocurrency world refers to a change or divergence in the blockchain protocol, creating two separate paths: one that follows the old protocol and one that branches off with a new set of rules. Forks can be classified as either “hard” or “soft,” with hard forks creating a permanent divergence from the previous version of the blockchain, requiring all users to upgrade if they wish to continue using the updated protocol. Soft forks, however, are backward-compatible with older versions, requiring only a majority of miners to upgrade.

Essential for evolving and adapting blockchain technologies, though they can lead to community divisions.

“Witnessed my first major fork in the blockchain today. Fascinating to see the community and network split, but it opens up new opportunities.”