Keen to learn the basics of bitcoin? Find out more about the cryptocurrency, including how it works, how it’s priced and how it’s used.
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Soft forks: The upgraded blockchain is now responsible for validating all transactions (blocks), but the existing blockchain will still recognise and record these transactions. Keep in mind that this only works one way: the upgraded blockchain will not recognise any blocks mined via programs using the existing blockchain.
Hard forks: The upgraded blockchain is now responsible for validating all transactions, but the existing blockchain no longer recognises these blocks as valid, nor records them. This means all users of outdated programs must update to access the upgraded blockchain.
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