Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#2651

  1. What is the difference between a softfork and a hardfork?
    A softfork update makes previously invalid blocks valid (it is an expansion of the rule set that needs 100% of the network to update). A hardfork update makes previously invalid blocks valid (it is a contraction of the rule set that needs at least 50% of the network to update).

  2. What are some of the reasons why you would do a hardfork?
    It is a clear and democratic update. It also prevents cons of the softfork: confusion and lack of validation.

  3. What are some of the risks with performing a hardfork?
    A split community, and a split of hash power (which leads to decreased security)

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#2652 
1. What is the difference between a softfork and a hardfork?
	○ Hard Fork - makes previously invalid blocks valid = EXPANSION of ruleset  (Visualize larger circle that is more inclusive!)
	○ Soft Fork - makes previously valid blocks invalid = CONTRACTION of ruleset (Vizualize smaller, more constraining circle)
	
2. What are some of the reasons why you would do a hardfork?
	○ To expend the rules
	○ To fix bugs
	○ To ensure a clrea update
3. What are some of the risks with performing a hardfork?
	○ Could split the chain
	○ Could split the community
	○ Could decrease security due to the decrease/split  in nodes/Hash power
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#2653

1: A hard fork makes previously invalid blocks valid, and a soft fork makes previously valid blocks invalid. A hard fork is therefore considered an expansion of the ruleset, and a soft fork a contraction of the ruleset

2: A hard fork is useful to define a clear change of consensus protocol. It is decisive and can also be divisive, as well as considered being a democratic approach to consensus updates. A hard fork will always result in a new chain, with a shared or common history with its parent.

3: A hard fork will always result in a split of the chain, as well as splitting the community. Hash power is reduced amongst the two new chains. All these combined can lead to a less secure and robust network and ecosystem

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#2654

  1. Hard forks and soft forks occur when network protocols are updated but only part of the network has updated. Hard fork occur when previously invalid blocks become valid. SOft forks occur when previously valid blocks become invalid.

  2. Sometimes hard fork are unavoidable because network protocols MUST be updated–or a majority of the community wants the update.

  3. There are several risks with hard forks. One is that the hash power becomes split as un-updated nodes no longer contribute properly to the collective hash power of the mining community. Hard forks also always lead to split chains. Sometimes the community will split as a result of the new protocols and their hard forks. Nodes working on the old protocols might even continue in perpetutiy with their chains and become a new distinct currency.

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#2655
  1. Softfork - previously valid blocks become invalid due to a rule contraction. Hardfork - previously invalid blocks become valid due to a rule expansion.
  2. To create a revised currency with updated rules or to fix an inherent issue in the software.
  3. Splitting the community which means less miners resulting in less validation and security with the new software.
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#2656

  1. What is the difference between a softfork and a hardfork? - A hard fork can be considered to be expansive and a soft fork contractive. That is to say that a hard fork expands a rule set to include previously non compliant blocks. The opposite is true for soft forks, previously compliant blocks become invalid.

  2. What are some of the reasons why you would do a hardfork? - To add software updates to add new functions, increase cross platform compatibility between blockchains, patch security holes, change mining rewards and fees.

  3. What are some of the risks with performing a hardfork? - It can split the community, double spend crypto in old blockchain and new blockchain, endanger trust, not user friendly and could cause price to diminish.

1 Like
#2657

What is the difference between a softfork and a hardfork?

Softfork is an update that makes previous valid blocks invalid and a Hardfork is an update that makes previous invalid blocks valid.

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

Create a new currency is one reason.

What are some of the risks with performing a hardfork?

Hash power of the whole network would decrease which would affect the security of the network.

1 Like
#2658

Homework on Soft and Hard Forks - Questions

What is the difference between a softfork and a hardfork?

The soft fork does not split the chain, the hard fork splits the chain into two separate chains.

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

Disagreements in the teams / non consensus.

What are some of the risks with performing a hardfork?

Community disagreements.

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#2659

1.A soft fork makes previously valid blocks invalid and a hard fork makes previously invalid blocks valid.
2. You would use a hard fork to create a new currency and community that has a clear difference to the previous chain it forked from.
3. Hard forks means that the hash rate or security of the network is reduced as well as splitting the community into two parts rather than remaining together.

1 Like
#2660
  1. What is the difference between a softfork and a hardfork? A softfork makes previously invalid blocks valid and hardfork is the opposite.
  2. What are some of the reasons why you would do a hardfork? one reason would be to create a new currency
  3. What are some of the risks with performing a hardfork? The main one would be the hash power is divided so security sinks. Other one would be the community gets split.
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#2661
  1. What is the difference between a softfork and a hardfork? Answer: An update that leads to a hardfork is one that makes previously invalid blocks valid. The Soft fork update is just the opposite: it makes a previously valid block invalid.
  2. What are some of the reasons why you would do a hardfork? Answer: You want to expand the rule set to accommodate new possibiliites.
  3. What are some of the risks with performing a hardfork? Answer: Hard forks risk splitting the chain, and thus splitting the community as well. If some would dissent, then it could create a new Coin (which may or may not be good, depending on personal opinions. Also, the hash power is split, hence with less validators, this could be an issue in security.
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#2662
  1. A hard fork is an update that makes previously invalid blocks valid. A softwork is the opposite.
  2. Increasing blocksize was in the example, but also to change other rules
  3. Less secure by losing hashpower, split community
1 Like
#2663

Homework on Soft and Hard Forks - Questions

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

A hard fork happens when there is a change in the consensus rules and makes previous invalid blocks valid.
a soft fork happens when there is a change in the consensus rules and makes previous valid blocks invalid

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

One of the reasons for a hardfork could be an imminent upgrade to the network, in the case of BITCOIN CASH, perhaps increasing teh block size to permit more tx in a block could be a upgrade scenario for many (altough i didnt agree back then lol)

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

The main risk associated to a hard fork is that it reduces the trust of the network by splitting the comminuty and reduces the hash power there currently is into 2 different versions of the chain since a new currency and a new set of rules is created.

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#2664
  1. Hard fork: is made because update that makes previously invalid blocks valid.
    Soft fork: is made because update that makes previously valid blocks invalid.
  2. You can create a new currency and new community.
  3. Hash power is split, you can have security problems.
2 Likes
#2665
  1. The difference is that a soft fork is a contraction of the valid blocks, and a hard fork is an expansion of the valid blocks.
  2. A reason for a hard fork would be that a part of the community wanted to go down another path.
  3. Risks in performing a hard fork include community split and loss of hash power to the new chain.
1 Like
#2666
  1. What is the difference between a softfork and a hardfork?

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

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

If you want to begin allowing certain types of blocks that are currently invalid, you would do a hard fork. An example of this would be increasing the maximum block size. One good thing about them is that they’re democratic in the sense that majority rules and if the majority wants the update, they will get it.

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

It nearly always causes a permanent fork that splits the chain and creates a new type of currency. This will split the community and lower the security of the network by reducing the hash power that was upholding the entire blockchain prior to the fork and would be split between the chain with the new rules and the chain with the old rules after the fork.

1 Like
#2667

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork? A soft fork include updates that makes previously valid block invalid and a hard fork makes previously invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork? A hardfork would be to increase file from 1MB to 2MB.
  3. What are some of the risks with performing a hardfork? Risks include split chain, split community, and hash power split which reduces security.
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#2668
  1. Hardfork makes previously invalid blocks valid and softfork makes previously valid blocks invalid.
  2. Because it is clear and democratic.
  3. Reduced security by splitting the hash power and it can also split the security.
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#2669

1.- Soft fork make valid transaction invalid. Hard fork makes de oposite, transactions invalid, now are valid

2.- Chance the consesues rule

3.- Creat a new currency, so the offer increase. Split de coin and the community

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#2670

  1. A softfork is decreasing your range of rule in blocks while hardfork is expanding the range of rule of blocks that you want to validate.

  2. Fix some bugs or issue in the system or you want to improve the system.

  3. You might double spend a transaction and splitting the blocks and the community.

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