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バリュエーション指標Price against fees and revenue, limits statedSupply & issuanceCirculating, maximum and the dilution ahead指標の定義Every figure: definition, period, limitation
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上場取引型プロダクトEvery US-listed fund, with a page each企業の保有資産Listed companies holding digital assets
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リサーチノートShort notes written from stored figuresイベントカレンダーUpgrades, halvings and policy dates
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リスクフレームワークFifty factors in seven familiesセキュリティインシデントExploits and failures, with the losses
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定義 Backwards-incompatible upgradeChain split

Hard Fork

A rule change that makes previously invalid blocks valid, so every participant must upgrade or end up on a different chain.

Because non-upgraded nodes reject the new blocks, a hard fork requires coordination: clients ship the change, the activation is set at a block height or epoch, and operators update before that point. When everyone upgrades, the result is a single chain with new rules, which describes most of Ethereum's scheduled upgrades including the Merge. When a group refuses, two chains continue from the same history with separate coins and separate communities, as happened with Ethereum and Ethereum Classic after the 2016 DAO fork and with Bitcoin and Bitcoin Cash in 2017. A split also creates practical problems such as replay protection, since a transaction signed for one chain may be valid on the other.

実際の運用

After the 2016 DAO fork, both resulting chains shared every block up to the fork point, and balances existed on each of them separately.

よくある誤解

A contentious split is one possible outcome of a hard fork, not its definition; the great majority are routine coordinated upgrades that produce no new coin.

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関連用語

Chain Reorganization When nodes drop recent blocks and adopt a different competing sequence, so the transactions in the…
Fork Any situation where a blockchain has two competing versions, either briefly by accident or…
Mainnet The live network where transactions carry real value and are permanent, as opposed to a practice…
Node Client Diversity How evenly a network's nodes are spread across independently written software implementations of…
Soft Fork A rule change that only tightens the rules, so nodes that have not upgraded still accept the new…
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Digital Asset DatabaseDigital asset research & education

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バリュエーション指標Supply & issuance指標の定義リスクフレームワークセキュリティインシデント

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上場取引型プロダクト企業の保有資産Eventsリサーチノートニュース

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