HARD FORKS: ACHIEVING A DEMOCRATIC CONSENSUS
The fragmentation of the Bitcoin Cash network continues to fuel the debate against the democratic characteristics of blockchain technology. The instability that is created when large portions of a blockchain network can’t agree on a definitive protocol can make businesses shy away from incorporating digital currency.
Essentially, when the majority of nodes can’t agree on the different terms and conditions required to execute transactions on the distributed ledger, something known as a hard fork occurs. As a result, two coins are produced and they function on concurrent blockchain networks. Even stable crypto assets, like Bitcoin, have undergone multiple hard forking events.