Hard Fork: This is a permanent update to the blockchain that requires everyone on the network to update their software. Once the update is made, all nodes and miners that haven't updated their software will still work under the old rules, while the updated nodes will operate under the new blockchain rules.
Chain Fork: A chain fork is a situation where a single blockchain splits into multiple chains. This can happen for various reasons, such as a dispute over changes to the protocol, network congestion, or differences in opinion within the community.
User-Activated Fork: When users initiate a fork without requiring support from miners, it is known as a user-activated fork. This could happen when there is a disagreement over the direction the blockchain should take, and users create a new chain with different rules.
Miner-Activated Fork: A miner-activated fork is initiated by miners who do not have enough support from other network participants to reach a consensus on the proposed changes. In this case, if miners have more than 50% of the network's hashing power, they can start a hard fork.
Governance Fork: A governance fork is when the rules of the entire network are changed to better reflect the interests of the community, often through a more democratic decision-making process.
Codebase Fork: A codebase fork occurs when a new cryptocurrency is created by copying the old source code and creating a new chain with new rules. This allows developers to experiment with new features or innovations in a relatively safe environment.
Airdrop Fork: An airdrop fork is when new tokens are distributed to existing stakeholders in proportion to their existing holdings without changing the underlying blockchain's rules.