Chiliz to Undergo Hard Fork on October 14th
Chiliz has announced that the Snake8 Hard Fork will go live on the Chiliz Chain on October 14 at 09:00 UTC. The upgrade marks the next stage in the network’s evolution, aimed at enhancing performance, scalability, and overall stability within the Chiliz Web3 infrastructure for sports and entertainment.
What is a hardfork?
The cryptocurrency mainnet operates according to certain rules. To improve network performance or correct errors, changes are periodically introduced into it. A hard fork represents changes that are not compatible with previous versions of software supporting the cryptocurrency network. In order to continue to mine the cryptocurrency, miners need to update the software.
In some cases, as a result of a hard fork, a completely new cryptocurrency may appear, as happened with Bitcoin Cash and EthereumPoW.
