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The Blockchain is the ledger to track transactions.
The Protocol contains all the rules of eMark, stake height, how many transactions fit in a block (block size), etc.
This Protocol is always queried and compared by all nodes, miners and users connected to the network when connecting to other eMark applications.
A Hardfork can occur when basic things in the source code (protocol) are changed.
Example: The Stake % value should be increased to 4.2% per year, all users must agree to this change, i.e. update their wallet (eMarkd/-qt) to this version. If the majority of users update, it will continue with the new version.
If there is a Hardfork, a time is set in the new application protocol (usually a certain block) where then older versions are no longer accepted to connect. Receiving the eMark would still work with the old version, but sending or generating it would no longer work.