How are you all? Today I will discuss with you about Cryptocurrency forks and upgrades.I will try to present my experience.  I am young and have very little experience so please excuse any mistakes.
Why are there hard and soft thorns?
Unlike cryptocurrency, banks or other financial software, there is no central authority to decide when to roll out updates or new features. To get around this, developers and miners must reach a consensus agreement on the direction of the blockchain. Forks act as this consensus mechanism.
What are the main characteristics of a hard fork?
A blockchain hard fork is a permanent deviation of the blockchain.

[Source](https://pixabay.com/photos/hand-man-cryptocurrency-ripple-3085141/)


Computers running earlier versions of the blockchain will no longer accept new versions. This happens when any new rules created on the blockchain are incompatible with the old rules.
All blocks mined after splitting into all blockchains are considered valid chains in their own right. Multiple blockchains now exist, each with its own set of rules.
What are the key features of a soft fork?
Unlike a hard fork, blocks in a blockchain network that were created following a soft fork remain valid on both chains. Another way of saying this is that they are backwards compatible.

[Source](https://pixabay.com/photos/bitcoin-money-btc-finance-4353069/)


New blocks are still compatible with old ones.
Soft forks are the most common type of fork because they do not dramatically change the network, but rather make it more usable or functional.Today's discussion ends here.  I hope you find it interesting and able to understand.  Share your thoughts on today's topic.  Wishes and blessings to all.  Everyone stay well stay healthy stay with Steemit