Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#201

  1. SOFTFORK (rule contraction) = update of consensus rules where previously valid block become invalid
    HARDFORK (rule expansion)= update of consensus rules where previously invalid block become valid

  2. Lots of possible reasons, maybe you have to update the consensus rules because of network scaling (block size limit change) or privacy algorithm changes, supply and mining related reasons, etc.

  3. You run the risk of splitting the chain and the community. When the chain splits so does the mining power. As a result the hash power of both chains falls and that means a reduction of security as there are fewer nodes and miners.

#202

  1. A hard fork is the expansion of the rule set and a soft fork is a contraction of the rule set.

  2. To increase the block size. To expand and enlarge protocol. Ethereum was hard forked to undo transactions because of a theft/back door in the code of a smart contract. A minority didnā€™t agree and split the chain as ethereum classic.

  3. You will split the community. split the hash rate, which in turn makes both chins less secure. Split the blockchain.

#203

  1. a softfork is an update to the protocol that contracts the rules
    a hardfork is an update to the protocol that expands the rules
    a hardfork has therefore a chainsplit guaranteed while the softfork doesnā€™t

  2. when their are 2 groups of nodes with a different opinion that will not take no for an answer, they will both move on with their specific protocol rules on their own chain. one on the original, one on the fork
    (like btc and bth)

  3. split community
    split the hashrate
    split the value

#204

Homework on Soft and Hard Forks - Questions

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

Softfork makes previously valid blocks invalid due to contraction and a hardfork makes invalid blocks valid due to expansion.

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

For expansion of the rule set and a consensus to change the protocol to create something new.

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

Community would be split and the reduction of hash power could lead to security vulnerabilities.

#205

A softfork makes valid blocks invalid, you make the rules tighter. Because of this, Softforks are backwards compatible. Because if you make the rules more strict, the rules still applies to the normal consensus rules. while hard forks expand the rules, so that they are not compatible with the normal rules.

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#206
  1. What is the difference between a softfork and a hardfork?
    Difference is that the rules expands(hard fork) or contracts(in soft fork).
  2. What are some of the reasons why you would do a hardfork?
    Because itā€™s a clear update to the chain that can anybody can join.
  3. What are some of the risks with performing a hardfork?
    Risk is to divide the community.
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#207
  1. What is the difference between a softfork and a hardfork?
    A hardfork will make previous invalid blocks valid while a softfork does the opposite.
  2. What are some of the reasons why you would do a hardfork?
    The network needs to add more features for clear, democratic update and cannot be done with the old rules. There is an expansion of the rule sets.
  3. What are some of the risks with performing a hardfork?
    The whole community might split and therefore result in a split of hash power.
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#208

  1. a softfork dont split the chain, keeps the community and the hashpower together, also it makes prev. valid blocks invalid. A Hardfork splits the chain and creates a new coin and splits the community such as the hashpower and makes prev. invalid blocks valid

  2. to update the rules and to create a new coin

  3. Splitting the hashpower and security of the network

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#209

  • What is the difference between a softfork and a hardfork?
    a hardfork is an update in the consensus rules that describe an expansion in the ruleset , versus a softfork which describe a contraction in the ruleset.
    Hardfork updates makes perviously invalid blocks valid, a softfork update makes previusly valid blocks invalid.

  • What are some of the reasons why you would do a hardfork?
    create new currency
    update the network to an improved version with more capabilities

  • What are some of the risks with performing a hardfork?
    if not all the nodes update there will be a chain split, this will bring consequentially a split in the community and in the hashpower, loosing hashpower means as we know loose security in the network making it result more vulnerable to attaks.

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#210

Thanks Zioman, I am a complete noviceā€¦but will get there!

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#211

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
  • hard-forks are democratic and make previously invalid blocks valid where as soft ā€”forks make previously valid blocks invalid
  1. What are some of the reasons why you would do a hardfork?
  • to create a separate chain with more capacity and/or add new functions
  1. What are some of the risks with performing a hardfork?
  • hard forks split the chain and have the potential to cause rifts and miscommunication with not only the miners but the community as a whole
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#212

  1. A soft fork is an update that makes previous valid blocks invalid while a hard fork is an update that make previous invalid blocks valid.

  2. One of the reasons you would do a hardfork is if you want to create a new coin.

  3. Some of the risks with performing a hardfork can be, for example, a split in the chain which leads to a split in the community (which create hard disagreements) and a split in the hash power (that might create security problems).

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#213
  1. What is the difference between a softfork and a hardfork?

Softfork are a contraction of the consensus rules, defined by an update on network that makes previously valid blocks invalid. In other hand a hardfork is an updade that makes previously invalid blocks valid , so a expansion of the consensus rules.

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

Some of the reasons are , make improvements, fix bugs .

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

It needs the be approval to 100% of network or the blockchain and community will split. Also the security may be compromised to the hash power split.

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#214

A soft fork is an update that makes previous valid blocks, invalid. And a hard fork is an update that makes previous invalid blocks, valid.

A hard fork is an expansion on the consensus rules, which creates a totally separate chain/currency. Miners can either choose to follow the original set of rules, or mine the new currency under the newly expanded consensus rules.

With a hard fork, the community as a whole decide which blockchain they would like to support, and when you split the community up, that degrades the hashing power which is the same as decreasing the security of the network. With each hard fork, you create a new currency, which could be misleading to potential investors.

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#215

  1. The difference is that a hardfork is an expansion of the consensus rules while a soft fork is a contraction meaning that previously invalid blocks become valid in hard fork and previously valid blocks become invalid in soft fork.

  2. A reason to do a hard fork is if you wanted to increase the block size.

  3. The risks are that it will split the hashing power when it splits the chain and itā€™ll also split the community.

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#216
  1. Hard forks are more democratic then soft forks and they also widen the perimeters of the protocol.
  2. Hard fork bug fixes and upgrades can be implemented more uniformly across the network.
  3. A hard forks down side is it creates a wider attack vector by expanding the rules of a blocks make up.
#217

  1. Hard forks expand the network by making previously invalid blocks valid, whereas soft forks do the opposite.

  2. To correct important security risks found in older versions of the software, to add new functionality, to create a new token.

  3. Hard forks usually result in a split in the blockchain, which reduces the overall hash power and therefore the networkā€™s security, and divides the community.

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#218

What is the difference between a softfork and a hardfork?
A softfork makes previously valid blocks invalid which leads to a more restricted use of the existing chain and its consensus protocol.
A hardfork makes previously invalid blocks valid which leads to a more lenient new chain beyond the existing consensus protocol.

What are some of the reasons why you would do a hardfork?
A hardfork might be useful to increase the block size for more scalability.

What are some of the risks with performing a hardfork?
Without coordinating all miners, nodes and wallets, a hardfork introduces a significant loss of hash power, a new chain, a new token and a new subculture of users.

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#219

  1. Soft forks work within the current rule set and will be adopted by all nodes. Hard forks expand upon the rule set where nodes will need to choose which rule set to follow.

  2. An intentional hard fork could be used to weed out bad actors. A hard fork can offer nodes a rule set choice when consensus to change is yet to be established.

  3. Reduced hash power and fragmented community. Can also lead to reduced stability and security.

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#220
  1. What is the difference between a softfork and a hardfork?
  • Soft Fork: Update that makes previously valid blocks invalid
  • Hard Fork: Update that makes previously invalid block valid
  1. What are some of the reasons why you would do a hardfork?
  • Change in scope
  1. What are some of the risks with performing a hardfork?
  • Split chain, Split commuity, Split hashpower
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