[quote=“ivan, post:1, topic:8446, full:true”]
Homework on Soft and Hard Forks - Questions
Soft fork is a fork that makes previously valid blocks invalid, and hard fork makes previously invalid blocks valid.
A hard fork can be implemented if someone wants to change the consensus rules, such as incorporating bigger block sizes.
I feel the biggest risk with a hard fork is the hash power becoming split. Others include a split community, and a split currency.
Homework – Forks
Soft forks make previously valid blocks invalid. This is a contraction of the rules and the criteria for validating a block becomes tighter. Hard forks make previously invalid blocks valid. This is an expansion of the rule set and the criteria for validating blocks becomes more relaxed.
A hard fork is beneficial when you want to make an updated version of an existing network, without forcing that change on the old version. Both version can exist simultaneously but the newer version will likely have a clear upgrade, such as better performance.
Because you are splitting the coin, you are essentially splitting the community, which splits the nodes, which in turn cuts the hash power and eventually degrades the security.
What is the difference between a softfork and a hardfork?
Hard fork makes previously invalid blocks valid.
Soft fork makes previously valid blocks invalid.
What are some of the reasons why you would do a hardfork?
Community dispute about rules.
Creating a new currency.
Technical reasons that require to update the consensus rules.
What are some of the risks with performing a hardfork?
Split of chain, resulting in split of community and hash power in the network.
Reduces network security
A hard fork update is an expansion of the rule set and previous invalid blocks
are valid where a soft fork is a contraction of the rule set and valid blocks are now invalid.
A hard fork would be done if consensus needed to be changed.
Hash power splits into two chains, lower security.
1.Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.
Hard forks provide an expansion of the rule set whereas soft forks give you a contraction of
the rule set.
2. To update the consensus, expand the rules, fix bugs, create a new currency.
To make it clear and democratic.
3.Splits the community , decrease security .
Soft fork makes the previous blocks invalid by changing the rules of the blocksize to be smaller.
Hard forks makes the previous invalid blocks valid by creating a new chain.
Possibilities to add new “features”, update the blockchain with better rules.
Splitting the community.
Blockchain Updates & Forks
What is the difference between a softfork and a hardfork?
With a softfork previous transactions that are valid become invlalid (Contraction).
With a hardfork previous transactions that are invalid become valid (Expansion).
What are some of the reasons why you would do a hardfork?
It is a more democratic update than a soft fork where your community gets to choose to either stay or join the new chain. You create a new currency that will get its own hashing power.
What are some of the risks with performing a hardfork?
The chain splits, subsequently splitting the community and hash power as well.Blockchain Updates & Forks
What is the difference between a softfork and a hardfork?
With a softfork previous transactions that are valid become invlalid (Contraction).
With a hardfork previous transactions that are invalid become valid (Expansion).
What are some of the reasons why you would do a hardfork?
It is a more democratic update than a soft fork where your community gets to choose to either stay or join the new chain. You create a new currency that will get its own hashing power.
What are some of the risks with performing a hardfork?
The chain splits, subsequently splitting the community and hash power as well.
Hardfork: makes previously invalid blocks valid
Softfork: makes previously valid blocks invalid
2. To increase the blocksize. This would allow for more Tx within 1 block, clear update, democratic update
3. New currency, community split, split the chain, split the hashpower
1 Hard fork makes previous invalid blocks valid and soft fork makes previous valid blocks invalid.
2 The consensus need to change. The new rule can lead to more efficiency, it creates a new currency.
3 Split the haspower and the chain.
What is the difference between a softfork and a hardfork?
Soft fork is a contraction while hardfork in the opposite way is an expansion update.
What are some of the reasons why you would do a hardfork?
To somewhat add the new dimension like some might put it a democratic way. In the case of Bitcoin, the author mentions that this results in a new currency.
What are some of the risks with performing a hardfork?
The author mentions the risk of decrease hash power split — this concept needs more elaboration. I find that this whole chapter was aimed to just give us the definition but the clarity of the message is not there. I don’t know much about programming but this chapter needs a more thorough content.
Soft fork makes changes that work within the current rule set, Hardforks make changes that require a new rule set.
Add improvements or functions to the blockchain
Causing conflicts, Spliting communities and hash rates
Hardfork is a expansion of set rules, that means it makes invalid blocks valid. If 100% of the network is updated, no fork. Happens when 100% of network is not updated. The chain is splited. Nodes can choose to keep previous rules and continue on that chain.
Softfork is a contraction is set rules, that means it makes valid blocks invalid. If more than 50% of hash power is on new rules, no fork. If less than 50% of hash power is on new rules, the longest chain will continue but it will create a fork.
To create a new coin.
More clear and democratic than softfork.
Risks of splitting the community and hash power (less security).
A softfork is where only previously valid blocks/transactions are made invalid but allows the chain to continue without splitting.
A Hardfork is where previously invalid blocks are made valid but the chain is split and carries on with 2 different and unique chains.
You may want to do a hard fork when there is a split in the community as to how the code should be updated. When some nodes believe the code should continue without an update but some feel the code must be changed you can hard fork the chain.
A hard fork will split the chain and the community. This splits the hashrate and can also lead to reduced security as it would be easier to get 51% of the hashrate.