Most people had good vibes for blockchain technology in its nascent stage of development; however, with time, as the technology scaled, vulnerabilities started surfacing. It was back then when the concept of hard forking started to make headlines. In most of the instances, the fork generally happens when the user base or developers anticipate future risks and they want to devise a technology for counter intuitive measures.
Why is there a need for hard forking in the blockchain ecospace?
- Most of the time, long networks or chains pose a lot of risk to get simple work done. Such things make mining tough for people on the network. Hence, they can hard fork the network to minimize the mining potential and maximize benefits.
- Sometimes the technical stuff written in the smart contract might be botched or inefficient. Hard forking allows you to GCD rectify the same.
- Hard forking can also help recover from damage by setting up a replica network once the previous network is under attack.
GCD coins have been developed keeping in mind all potential threats and we have provisions for hard forking that we will introduce in our upcoming IEOs.