The Ethereum Hard Fork Explained

What happens when cryptocurrencies hard fork? We explore the differences between recent forks in Bitcoin and Ethereum.
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Sam Cassett is the Chief Strategy Officer of ConsenSys. He sat down with TheStreet to explain what is going on with the Ethereum hard fork.

This is a transcript of what he told us:

My name is Sam Cassatt. I'm Chief Strategy Officer of ConsenSys, which is a company that builds bond and incubates block chain start up companies on the ethereum block chain. 

We recently had an Ethereum hard fork, so known as the Byzantium hard fork. This represents an upgrade to the protocol and the dimensions of the scalability and privacy.

You may have seen recently that there was a split in Bitcoin into Bitcoin Cash and Bitcoin the mainstream. This was a hard fork that did not complete successfully resulting in two different assets.

In Ethereum, the upgrade went off without a hitch. Everyone upgraded to the same software. Now we have one single main blockchain of Ethereum, that is an application platform.

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