Quote from: Inmydomain on June 15, 2017, 02:41:47 PM

Hi,

Please could someone explain the concept of hard fork, soft fork and segwit.

What is the background? why is it happening? and what are the potential implications?

Thanks

You are late to the party, anyways if you use the search box on the main page you'll get dozens of pages regarding all the issues in question.
I'll explain it in the shortest terms possible.

Core developers ( the same team working on bitcoin for almost 7 years) worked for years to improve the bitcoin network so they coded something called SegWit which is a fix for many things and it'll further improve the user experience and safety.

And there is this little fellow called Wu, he wants to have everything for himself, so he ought to hard fork the main version of bitcoin software and inject his sperms into it Cheesy

that is all you need to know really.