I've been seeing the word hard fork for quite a lot of time now but I've never quite understood the meaning of it.
Would it be ok to give me a short explanation of the meaning.
Much love from me. ❤︎
-Goldie
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Hardfork = a modification in the underlying logic of the blockchain, impacting the way transactions are made from a certain block onwards.
Starting with HF19, for instance, the voting algorithm will be modified so each vote will have a proportional saying in drawing rewards from the reward pool (as of now, this is is squared, so if you have
nvoting power, you drawn^2rewards from the pool).Think of a hardfork as a new version of the blockchain, from a certain moment onwards.