Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4142

1. What is the difference between a softfork and a hardfork?

A soft fork happens when a cryptocurrency platform’s existing code is altered.
The old version is still on the network, now earlier valid blocks are invalid.

A hard fork is when the new split version is created and results in a new coin.
Here the earlier invalid blocks are valid. E.g the crypto coin: Ethereum classic [ETC]

2. What are some of the reasons why you would do a hardfork?

A change in the consensus (Agreement) rules.
It becomes more democratic (many would say)

3. What are some of the risks with performing a hardfork?

A chain and community split, reduction in hash power due to the network split.
Nodes might lose trust over the security issues, and all this can result in a weaken currency.

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#4143

a soft fork is when valid blocks become invalid, A hard fork is when previous invalid blocks become valid

if for some reason you had to change the consensus protocol

a risk when performing a hard fork is a divide in the community not agreeing on the changes

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#4144
  1. What is the difference between a softfork and a hardfork?

A hardfork extends the rules of the blocks, making the previous invalid blocks valid. A softfork restricts the previous blocks, making valid blocks invalid.

  1. What are some of the reasons why you would do a hardfork?

New rules, e.g. the block size that needs to be increased.

  1. What are some of the risks with performing a hardfork?

Since this leads to a chain split, the community will also be split and the miners, i.e. the hash power in the network, will decrease. Security thus decreases.

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#4145
  1. Hard fork expands the rule set - invalid valid. A Soft fork constricts rule set - valid invalid.
  2. If there needs to be a consensus, version change.
  3. Hash power split and can split community.
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#4146
Soft Fork Hard Fork
Backward Compatible? Yes No
Block Size Smaller Larger
Speed Slower Faster
Security Lower Higher
Some previously valid blocks will become Invalid Valid
Some prreviously valid blocks will become Valid Invalid

(Adapted from this site)

  • For security reasons: Using the extra space in the block can be the only way to include information that can be helpful to avoid DoS attacks or any other type of security bug.
  • Performance reasons: Using the extra space in the block can be the only way to accommodate code changes that can lead to better performance
  • In order to have new features
  • Dividing the community - both a loss in human resources and a source of human conflict
  • Dividing the hash power (this can make it less secure)
  • Dividing the market cap as you create a new currency
  • Some nodes may not be aware of the change on time and still run the old system (although some times it can be planned well in advance to mitigate this)
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#4147

  1. A hard fork is an update that makes previously invalid blocks valid and a soft fork is an update that makes previously valid blocks invalid.

  2. A hard fork would good for proposed change in consensus.

  3. There would be split in the chain, as well as in the community and hash power, which can decrease security of network.

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#4148
  1. A hard fork needs 100% of the nodes to agree often causing a split in the chain. In case of a soft fork and the majority agrees the nodes that did not update can still accept the new blocks (it’s backward compatible)
  2. If there is a clear division in the set of rules the community doesn’t agree on. This often happens when the rule set gets expanded
  3. The chain is split causing the community to split. Also the hashpower will decrease on each chain lowering the security of that chain.
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#4149
  1. The difference is the the soft fork make valid blocks invalid while a hard fork makes invalid blocks valid.
  2. Reasons to do a hard fork is cause it’s a clear update, it’s democratic and it creates new currency.
  3. The risks though are that it will cause a split with in the chain and the community due to the unwilling to change with the update.
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#4150
  1. What is the difference between a softfork and a hardfork?

Soft forks make previously valid blocks invalid and require the majority of the nodes to have the updated logic. Hardforks make previously invalid blocks valid and require all nodes in the new chain to have the same logic.

  1. What are some of the reasons why you would do a hardfork?

Its a clear and clean update since a completely new chain is created with the original chain being kept intact.

  1. What are some of the risks with performing a hardfork?
    An entirely new chain will be created in turn splitting the community participants. Lets participants means less hash power, lowering the security until new miners come as network participants.
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#4151

  1. Hard forks - makes previously invalid blocks valid, needs 100% of the network to update the fork.
    Soft Fork - Update that makes previously valid blocks invalid, Only needs about 50% of the network to confirm soft fork.

  2. New currency, has a clear update, democratic

  3. Splits the chain, splits the community, Hash power is split

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#4152
  1. What is the difference between a softfork and a hardfork?
  • A softfork is when an update makes previously valid blocks invalid. A hardfork is where previously invalid blocks become valid.
  1. What are some of the reasons why you would do a hardfork?
  • A hardfork is done when there is a general update, that nodes have to accept that update.
  1. What are some of the risks with performing a hardfork? It splits the chain, it splits the community. Creation of a new token.
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#4153

  • SF is an update in the consensus rules that makes previous valid blocks became invalid from then on… and HF makes previous invalid blocks bacame valid from then on.

  • Thinking in terms of an expansion tool, the HF would be adopted whenever the network is planning to grow, to evolve, to embrace things that wasn’t in the radar before, to expand, and so on…

  • The splits would be the crucial point… lose hashpower, split the comunity and the chain can have unpredictable consequences

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#4154

A soft fork is when previously valid blocks are now invalid whereas a hard fork means that previously invalid forks are now valid.

A hard fork is necessary when a certain rule needs to be removed, for (a stupid) example: Nonces can now be base 16 and include alphabetic characters as well.

A hard for will split the community temporarily, until 100% of nodes update to allow for the previously invalid blocks. This can lead to very large parallel chains of blocks occupying the same height in the blockchain, which will eventually break off to become stale and potentially remove tons of transactions when the fork is resolved. The alternative is the formation of an entirely new token because the community has split as a result of disagreeing on what they believe should be valid.

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#4155

  1. a hard fork expands the ruleset of the nodes and miners, making previously invalid blocks, valid whereas a soft fork shrinks the ruleset of nodes and miners so previously valid blocks are now invalid

  2. a hard fork is a major update to the network and by doing so, you create a different network with different rulesets, thus making a complete new coin with different attributes ( often for the better )

  3. A hard fork is not just beneficial, it splits the network and creates two different blockchains with different rules but a common past, the major effect is that the hashing power of the network is reduced because everyone updating will leave the current network and apply its power to the new version of the blockchain so the security is reduced

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#4156

  1. A soft fork makes previously valid blocks invalid and a hard fork makes previoulsy invalid blocks valid.

  2. To introduce a new functionality or change consensus rules.

  3. You split the hash power and the community.

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#4157

  1. What is the difference between a softfork and a hardfork?
    A softfork is an update that make previous valid blocks invalid. On the other hand, a hardfork is an update that make the prevous invalid block valid.

  2. What are some of the reasons why you would do a hardfork?
    To make a change in the concensus, to make changes in the rules that not everybody agree on.

  3. What are some of the risks with performing a hardfork?
    It can divise the community, reduce the hash power, and make the network less secure.

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#4158

1- With Soft forks previously valid blocks become invalid. The rules become contracted. With hard forks previously invalid blocks become valid. Rules become expanded.

  • When transaction validation activity increases via nodes and miners, block capacities must be increased because block adding duration should remain constant for chain. Hard forks increases block capacity.

  • With hard fork, hash power splits into 2 chains, makes it more unsecure

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#4159
  1. What is the difference between a soft fork and a hard fork?

  • soft fork is an expansion of the ruleset, will not necessarily split the chain

  • hard fork is a contraction of the ruleset, will force a split

  1. What are some of the reasons why you would do a hardfork?

  • to change the network consensus

  • force all nodes ton update

  • more clarity

  • def split the chain, want a separate new chain

  1. What are some of the risks with performing a hardfork?

  • security suffers as nodes are lowered

  • split the community

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#4160

  1. A soft fork contracts the rule set and the hard fork expands the rule set

  2. It’s done if an update is needed In nodes and change in rules

  3. Dividing community and new currency formation and lowering security

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#4161
  1. What is the difference between a softfork and a hardfork?

A soft fork contracts the rules used. A hard for expands the rules.

  1. What are some of the reasons why you would do a hardfork?

To apply chain rule updates.

  1. What are some of the risks with performing a hardfork?

It splits the chain.

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