Hard Fork
By CoinGecko | Updated on Aug 12, 2021
Forced bifurcation of a blockchain, which is usually given when a fairly significant change is implemented in the software code of a network. It results in a permanent divergence of a blockchain into two blockhains. The original blockchain does not recognize the new version.
Related Terms
Liquid Proof of Stake (LPoS)
A proof of stake consensus mechanism by Tezos that slightly differs from Delegated Proof of Stake.
Lightning Network
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
Impermanent Loss
Temporary loss of funds due to volatility leading to divergence in price between token pairs provided by liquidity providers.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
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