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A hard fork changes the rules so that previously invalid blocks can now be valid. A soft fork changes the rules so that some previously valid blocks are now invalid.
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A hard fork can add functionality to a blockchain that couldn’t previously be done. For example, Bitcoin Cash was forked so it can handle more transactions with a bigger block, and is now able to handle smart contracts.
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The network hash power is split into two chains, reducing the security of both networks.
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In a hard Fork, everyone needs to update. If some part of the community doesn’t agree with this update, the chain splits and the total mining hashpower.
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To activate a soft fork, a big majority needs to vote for it first. I don’t know the exact percentage, but it was way more than 50 percent
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[quote=“ivan, post:1, topic:8446”]
Homework on Soft and Hard Forks - Questions
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What is the difference between a softfork and a hardfork?
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What are some of the reasons why you would do a hardfork?
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What are some of the risks with performing a hardfork?
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Hard fork makes previosly invalid blocks valind, Soft fork makes previosly valid blicks invalid.
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Its democracy and its a clear update.To expend the consensus add a new funcationality.
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Security
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Softfork, previously valid blocks are made invalid
Hardfork, previously invalid blocks are made valid. -
New currencies, Democratic updates.
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You can split the community because community may not agree and the hash rate and network security will reduce.
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A “soft fork” is a software update that is compatible with earlier versions, in other words it’s backward compatible. A “hard fork” is a software update that isn’t backwards compatible, so any blocks coming after the activation of the software update will have to follow the new rules in order to be considered valid.
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correcting important security risks found in older versions of the software, to add new functionality, change in vision amongst the community, to update consensus
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the community is split, the chain is split resulting in less hash power, less hash power is less secure network, one of the chains can die
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Answer:
- Softfork is a contraction of the rules, and hardfork is an expansion of the rules. Softfork needs only 51% of the nodes to update for the whole network to adopt the longer chain. Hardfork needs 100% of the network to update because otherwise, it is going to split from the network. Hardfork creates new coins, and softfork doesn’t. Hardfork is a democratic way because you choose the network you believe to be right. Softfork is a rule of a majority of hash-power, i.e., 51%.
- One reason is that you want a new coin. Disagreement in the community about governance and consensus. Correcting the mistakes in previous blocks, like reversing transactions ( like in ethereum).
- Reducing the security of the network because of splitting the hash power of the miners. If some miners want to update and others don’t, both networks have less hash power and less security. Reducing the number of developers contributing to the network, which hinders growth. If 100% of the nodes do not update, the network splits.
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- What is the difference between a soft fork and a hard fork?
- A soft fork makes previously valid blocks to invalid blocks whereas hard forks makes previously invalid blocks yo valid blocks.
- What are some of the reasons why you would do a hard fork?
- Some reasons why a hard fork may occur is due to consensus rules expanding. This happens so the transactions or blocks are able to be valid.
- What are some of the risks with performing a hard fork?
- Some risks of performing a hard block is that there will be a split in the chain, a split in the community, and a split in the hash power.
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Soft forks make previous valid blocks invalid and hard forks make previous invalid blocks valid
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More democratic, and the nodes will understand what has been changed.
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The possibility that not all nodes will accept the hard fork, so it will create a new chain e.g. Bitcoin cash.
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- Previous invalid blocks are made valid in a hard ford. Previous valid blocks are made invalid in a soft fork.
- A hard fork changes consensus rules
- Hash power diminishes and this can diminish security of the chain.
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A soft fork is an update that makes previous blocks valid, where a hard fork makes previous blocks invalid.
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A hard fork can be done to create a clear update. There may be a need for a massive update to improve the networks performance so that’s why a hard fork is done. Hard forks be a democratic update.
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Risks that come from hard forks are compromised security because hash power is divided. It also hurts the community and causes a split and splits the chain.
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- What is the difference between a soft-fork and a hard-fork?
Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid. - What are some of the reasons why you would do a hard-fork?
A change in vision and consensus. - What are some of the risks with performing a hard-fork?
Bad for the security, the hash-power have to divide over two chains.
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1.Difference is hardfork make previously invalid blocks valid and softfork previously valid blocks invalid-With hard fork previous blockchain is separated on two blockchains
2.Because of differencies in the consensus -Other rules are made on the chain -and then previously ivalid blocks became valid
3.Split of the blockchain,Hash power split,community split ,low security on the two networks.
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A soft fork is a contraction of the consensus rules, while a hard fork is an expansion of the rules.
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You want to make a change to the consensus rules. It could be an attempt to improve the protocol by e.g. increasing transactions per second or lowering transaction fees.
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It lowers security because it splits mining power.
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If almost everyone updates, this isn’t an issue. But off course, it’s like politics. If some people don’t agree, a split in community (and hashpower) is inevitable
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- Softforks don’t split the chain and contract rule set while hardforks split the chain and expand rule set
- To create another currency and to expand rule set
- Splitting community, losing miners and thus decreasing hashrate and network security
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A hard fork makes previously invalid blocks valid, so it expands the rules, as where a soft fork makes valid blocks invalid, so it makes the rules tighter.
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You would do a hard fork to change or expand the rules, and it is clear and democratic.
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The risks are that the chain and hash power is split which reduces security because some of the miners are on each chain.
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The difference between a softfork and a hardfork is that a hardfork enlarges the ruleset, whereby previous invalid blocks now can be accepted by the network. A softfork decreases the ruleset, whereby previous valid blocks can be, but not necessarily are invalid.
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Some of the reasons why you would do a hardfork are:
A) you have a clear split of the chain
B) you expand the ruleset
C) it is a very democratic process, meaning you can choose -
Some of the risks with performing a hardfork are:
A) you reduce hashpower and therefore security
B) splitting consensus and therefore the community
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- Hardfork makes invalid blocks valid whilst softfork makes valid blocks invalid.
- Change in consensus
- split hash power and less secure network
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Softfork maintain the blocks within the same chain while hardfork separates the blocks into multiple chains.
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When there is a need for a new token. When there is a need for a different community.
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If a member does not update to the new consensus, the member will remain in the obsolete blockchain.
If some community members does not agree to the change, the community might split and new token is created.
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