Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#2591

  1. Hard forks expand the rule set, and make previously invalid blocks valid. A soft fork update does the opposite. Usually doing this by either increasing or decreasing the blocksize.

  2. Hardforks could be made on purpose to either A: to create a new currency, as a split in the chain also causes a new coin to be created for that chain. Many have done this in order to incorporate new currency into the blockchain for example with the BTC and BCH fork. Or B: because of a change in the consensus rules, in which one side of the chain wants to adapt to a new set of rules while the other side wants to stick with the old. These are two reasons.

  3. A hard fork splits the chain, which is bad because not only does it cause a split in the community, but also in the hashpower, as It’s now divided between the two chains. This decreases the security as the less miners mining on the chain causes less security.

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#2592
  1. Soft fork is when previously valid blocks are now invalid, vise verse for hard fork.
  2. You could do a hard fork based on a democratic decision to lengthen blockchain size capacity to ensure more POW and security when approving future transactions, as well as removing anyone who is acting as an inactive node to ensure active participation within the node community.
  3. Some of the risks are splitting the chain and community for a while and decreasing the amount of transactions approved within a certain timeline and also will cause the hash power to split.
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#2593
  1. SF - valid to invalid
    HF - invalid to valid
  2. Change in consensus rules
  3. Split in community and reduction in security.
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#2594
  1. Hard fork is an update that makes previously invalid blocks now valid and a soft fork is an update that makes previous valid blocks now invalid,
  2. change in consensus
  3. splitting miners. reduce hash power.
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#2595
  1. a soft fork makes all blocks update while the hard fork updates some
  2. to split the chain and make a new currency with different features
  3. new currency could die or be flawed, hashpower could be greatly reduced
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#2596
  1. What is the difference between a soft fork and a hard fork?
  • The difference between them is the hard fork makes previously invalid blocks valid which doesn’t fit in the rule set. And Soft fork is the opposite of hard fork which makes previously valid blocks invalid which fit in the rule set.
  1. What are some of the reasons why you would do a hard fork?
  • When there is an update in consensus rules.
  1. What are some of the risks with performing a hard fork?
  • Split the chain, split community, and less security network.
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#2597
  1. Softfork doesn’t split the chain, and appears within the majority rule. Soft fork comes after update which shrinks the rule set. Update that leads to a softfork is update that makes previously valid blocks, invalid. Hardfork update makes previously invalid blocks, valid, it split the chain, split the hash power which can lead to loss of security. To hardfork no to take place all the nodes has to get the update.

2.The main reason would be to create new currency and make the size of the block bigger.
3. It can split the community, split the chain, and hash power which means some of the miners would be on one chain and the others on the other chain what leads to lack of security.

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#2598
  1. A soft fork update makes previously valid blocks invalid by therefore shrinking the rue set, whereas a hard fork update makes previously invalid blocks valid and therefore expanding the ruleset.
    2:
  • It’s a clear update, so you can choose what part of the blockchain you want to stay in.
  • It’s democratic
  • Creates a new currency (diversification)
  1. It splits the chain and the community.
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#2599

1:A soft fork will make a previous valid block invalid ,and a hard fork will make a previously invalid block valid.
2:When there is a change in the consensus mining rules you do a hardfork
3:When doing a hardwork fork it could make a split an make the chain less secure.

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#2600

  1. a soft for makes previously valid blocks invalid, while a hard for makes previous invalid blocks valid.

  2. to improve the network and add a change the consensus

  3. It can divide the community a and result in new chains and currencies

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#2601

Homework on Soft and Hard Forks - Questions

1. What is the difference between a softfork and a hardfork?
With a soft fork update previously valid blocks become invalid and with a hard fork update previously invalid blocks become valid.

2. What are some of the reasons why you would do a hardfork?
To improve the quality of the network that can’t be done within the current set of rules.

3. What are some of the risks with performing a hardfork?
The hashpower of the whole network decreases because the chain gets split into two. This reduces security and could also possibly split the community.

2 Likes
#2602
  1. What is the difference between a softfork and a hardfork?

A hard fork results in two blockchains while soft fork results in one single valid blockchain. The distinct difference is in the way the rule set was updated, whether it is an expansion or contraction. An expansion ruleset makes previously invalid blocks valid that led to hard fork while contraction ruleset makes previous valid blocks invalid and led to soft fork.

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

To add new functionality, reverse transactions that siphoned off digital currency cause by hackers, perhaps allow nodes with outdated blockchain version be upgraded to the new version and to fix security risks found in the old protocol version.

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

Degrading security and performance of the network. Causes confusion and contradiction if conflicts occurred between the split community because of two different blockchain versions. Prices may drop sharply due to speculation.

2 Likes
#2603

Homework - Forks

What is the difference between a softfork and a hardfork?

Softfork is were valid blocks become invalid under the new rules. Create a temporary split that corrects itself.

Hard fork is were invalid blocks become valid under the new rules. Create a permanent split that creates 2 different Chains.

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

  • Create network updates (Fix problems or Make performance improvement)
  • “Democratic”
  • Expansion for Valid Blocks

What are some of the risks with performing a hardfork?

Splitting in to two chains

Influencing for better or worse for a period of time the trust in both chains. Why the split? New chain needs to prove its trust.

2 Likes
#2604

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

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

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

1.Softfork update previously valid blocks invalidates after an update while Hardfork update previously invalidated blocks validates after update.
2.Clear and Democratic
3. It splits the chain, It splits community, It splits Hash Power.

3 Likes
#2605
Blockchain Updates & Forks

  1. What is the difference between a softfork and a hardfork? A hardfork makes previously invalid blocks valid while a softfork makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork? If you want to change consensus or add new functionality.

  3. What are some of the risks with performing a hardfork? You would risk splitting the hash power in half which could be a security issue along with having a split community.

3 Likes
#2606
  1. A softfork is a contacting of the ruleset that miners follow while a hard fork is an expansion of the ruleset. Softforks only require 51% of the miners to update while a hard fork requires 100% of the miners to update.
  2. You can create a more clear direction for the future of the chain and you keep with you those who believe in the same mission.
  3. You risk hash rate, intellectual power, and potential use cases for the chain.
3 Likes
#2607

  1. What is the difference between a softfork and a hardfork?
    A SoftFork makes previous valid blocks invalid (contraction), while a HardFork makes previously invalid blocks Valid (expansion)

  2. What are some of the reasons why you would do a hardfork?
    to expand the consensus protocol of the network

  3. What are some of the risks with performing a hardfork?
    will split the chain, lose hash power, decrease in security

3 Likes
#2608

  1. A soft fork is contractive l, it decreses blocks size and causes bigger blocks to be ommited.(not sure why u would want to do that, maybe to save space on the chain) it’s also non democratic because the chain will eventually pick a side and thus a split chain will not occur. A hard fork expands the chain and allows blocks on the chain that are bigger than the originals. Because of this miners can choose to stick to the originals or not a split may occur

  2. If u want to split a chain then a hard fork is the way to go. It is clear what will happen unlike a soft fork which is sure to result in stale blocks u just dont know when

  3. If a split occurs with a hard fork hash power and thus pow will decrease and also a portion of the community

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#2609

It contracts the rules, not necessary the block size. Decreasing the block size is just the most simple example to understand the concept, not sure if anyone would actually do it. :slight_smile:

3 Likes
#2610

  1. What is the difference between a softfork and a hardfork?
    A hardfork makes previously invalid blocks valid, while a soft fork makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork?
    If there was a split in the community that wanted to go one way over another.

  3. What are some of the risks with performing a hardfork?
    A reduction in hash power, some nodes would continue on one chain as another would continue on a different chain resulting in hash power loss.

3 Likes