SOFT FORK IN A CRYPTO CURRENCY

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A soft fork in cryptocurrency is a type of upgrade that allows changes to be made to the blockchain protocol without requiring all nodes to update their software.

Soft forks are backward-compatible, which means that nodes running older versions of the software can still function within the network.

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[{"selector":"#anim-3e5e2b77-9421-4da9-8bd9-ae4cb7d56040 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.74910490725541%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The purpose of a soft fork is usually to improve the efficiency or security of the blockchain network by implementing new features or rules. Arrow

[{"selector":"#anim-1c951deb-f120-44c2-a5a9-321f59015ac1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Soft forks are typically implemented through the activation of a new rule that is backwards compatible with the existing rules. Arrow

Once a soft fork is implemented, nodes running the older version of the software will still recognize blocks and transactions that conform to the new rule, even if they don't understand it.

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[{"selector":"#anim-1ab06f60-edd1-4894-a506-61220ad24a5e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Soft forks are often used to introduce new features such as Segregated Witness (SegWit), which increases the block size limit by removing signature data from transactions. Arrow

[{"selector":"#anim-e249214f-f6d8-4d35-aef7-d2731cdfd925 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.285244247341844%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Soft forks can be contentious if there is disagreement among nodes about the proposed changes. In such cases, there may be a chain split if a portion of the nodes refuse to adopt the new rule Arrow

[{"selector":"#anim-1d13add6-9f8a-4e5b-b279-ade3e0ecbdf6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Soft forks can also be used to reverse transactions that are deemed invalid or fraudulent, as was the case with the DAO hack on the Ethereum network in 2016. Arrow

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