Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#2952
  1. What is the difference between a softfork and a hardfork?
    A. soft fork makes valid transactions invalid and hard fork makes invalid transactions valid.
  2. What are some of the reasons why you would do a hardfork?
    A. create a new currency, clear democratic decision
  3. What are some of the risks with performing a hardfork?
    A. splits the comunity, reduction in hash power reducing network security.
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#2953
  1. What is the difference between a softfork and a hardfork?

A softfork happens when an update makes a previous valid block invalid,
where a hardfork is the other way around, it happens when an update makes a previous invalid block valid.

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

There seems to be a lot of different opinions surrounding this, but if you were to want to create a new currency, a hard fork would do that.

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

Since it splits the hash power, it reduces the network’s security.

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#2954

  1. A soft fork is a contraction of an existing rule while a hard fork is an expansion of an existing rule. A soft fork makes some valid blocks invalid while a hard fork makes invalid blocks within the new rule valid.

  2. You would do a hard fork if you are wanting to create a new currency from the existing block. For example, Bitcoin cash is a hard fork of Bitcoin. Sometimes a hard fork is an update of the rules to rectify any vulnerabilites.

  3. Some of the risks of performing a hard fork are it splits the chain. This leads to a reduced network of nodes (some will choose not to update) therefore increasing security risk ie fewer validators on the new network. It can also split the community as some will not like the new updates to the consensus rules.

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#2955
  1. A soft fork is an update that makes previously valid blocks invalid whereas a hard fork makes previously invalid blocks valid. In other words, soft fork updates condense the rule set while hard fork updates expand the rule set. Soft fork updates require more than 50% hash power to avoid the fork vs 100% for hard forks.
  2. A hard fork offers broader requirements for the blockchain that requires consensus.
  3. Hard forks risk splitting the chain and community.
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#2956
  1. What is the difference between a softfork and a hardfork?

Softfork makes previously valid blocks invalid, hardford makes previously invalid blocks valid.

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

A change in consensus

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

Lowers security, splits the community, a new currency will be created.

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#2957
  1. What is the difference between a soft fork and a hard fork?
  • A hard fork is an update that makes previously invalid blocks valid, when a soft fork update does the opposite by making previously valid blocks invalid.
  1. What are some of the reasons why you would do a hardfork?
  • A hardfork would be created because of a different ideology on consensus.
  1. What are some of the risks with performing a hardfork?
  • Some of the risks with performing a hard fork is lowering the security of the network with the hash power splitting into two chains.
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#2958

  1. Hard forks make previously invalid blocks valid. Soft forks make previously valid blocks invalid.

  2. To have a clear cut network of all nodes on the same version of the protocol. No confusion.

  3. It cuts the hash power significantly so network security is weak.

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#2959
  1. What is the difference between a softfork and a hardfork?
    A hard fork update makes a previous invalid block valid.
    A soft fork update makes a previous valid block invalid.
  2. What are some of the reasons why you would do a hardfork?
    Different options of how the chain should be continued.
    Not all of the nodes get the update at the same time. Some still calculate with the old conditions.
  3. What are some of the risks with performing a hardfork?
    The community is splitted, the hash power as well. There are now 2 ways of the chain. A new currency is made out of the fork.
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#2960

1.Difference between them is that they are totally opposite, HF make previously invalid blocks valid, and SF make previously valid blocks invalid.

  1. When an update of consensus happen, the blocks are divided into fork, soft and hard ones, they react differently.

  2. It splits the community and the hash power.

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#2961
  1. What is the difference between a softfork and a hardfork?

Hardfork potentially splits the chain and makes previously invalid blocks valid (expansion)

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

Need to expand rules for new blocks.
3. What are some of the risks with performing a hardfork?

Split chain causing potentially less security due to miners being split.

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#2962
  1. Softfork makes valid blocks invalid…hardfork makes invalid blocks valid
  2. You do a hardfork when there is a change in the vision…like increasing blocksize to increase the speed of transactions
  3. The risk of a hardfork is that it can cause a permanent split in the community which lowers the hashrate and hence security of both forked versions…
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#2963

  1. A softfork is caused by an update that makes previously valid blocks invalid, if the majority of the hashrate is updated no fork will take place. A hardfork is caused by an update that makes previously invalid blocks valid, a fork will not take place if and only if 100% of the hashrate is updated;

  2. A hardfork is clearer in the sense that miners that have not updated create a “new chain”, whereas in the softfork miners that have not updated will still fit in the “old chain” even if they are not aware of it;

  3. The risks of performing a hardfork are that this creates a split in the chain and community. Hence, it will split the hashrate which will make the network less secure.

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#2964

  1. Hardfork = Expansion of the rule set (prev. invalid blocks get valid).
    Softfork = Contraction of the rule set (prev. valid blocks get invalid).

  2. Its a clear Update and its democratic.

  3. You could split the community and you obviously split the chain.

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#2965

The blocks of the blockchain will be = Softfork : valid to invalid. Or Hardfork : invalid to valid

Either a democratic consensus or creating a new coin.

The blockchain can fork, the community can be split and the hash power separated.

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#2966

What is the difference between a softfork and a hardfork?

A hardfork is a fundamental software change that will make previously invalid blocks valid and a soft fork will make previously valid blocks invalid. A hard for is reached by consensus which is more democratic.

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

A change in consensus rules

What are some of the risks with performing a hardfork?

Its quite divisive and can cause a split in the community, chain and hash power which reduces the security of the network.

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#2967

  1. A hardfork is an update that makes previously invalid blocks valid, which is an expansion of the rule set. A softfork is an update that makes previously valid blocks invalid, which is a contraction of the rule set. A hardfork update needs 100% of the network to update to avoid a fork, while a softfork only needs to convince more than 50%.

  2. Some of the reasons why you would do a hardfork are change of consensus and expand the rule set.

  3. Some of the risks with performing a hardfork are splitting a community and a hash power split.

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#2968
  1. Soft fork makes previously invalid blocks valid. It leads to concurrent existence of two blockchains. So now we have two currencies. Soft fork makes previously valid block invalid. All nodes continue to work with the same blockchain. But know only blockchain with ruleset of supported by majority fork will survive.
  2. You want to introduce new feature which current protocol won’t understand or you want to set higher limits on some rules for example block-size.
  3. Your hard fork may be supported with few people. New network will have small hashrate and will be vulnerable to 51% attack.
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#2969
  1. A hard fork makes previously invalid blocks valid. A soft fork makes previously valid blocks invalid.
  2. A software update to increase the block size. To create a new currency. Community is split over some change.
  3. It splits the chain, and splits the community and creates a new currency. It splits the hash power of the miners.
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#2970

  1. What is the difference between a softfork and a hardfork?
    It differs in how the update treats previous blocks resulting in either a community split (hard fork) or not (soft fork).

  2. What are some of the reasons why you would do a hardfork?
    To patch vulnerabilities, add new functionality, or to reverse a hack.

  3. What are some of the risks with performing a hardfork?
    This splits the hash rate of the community and increases security risks.

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#2971

  1. The difference between a softfork and a hardfork is a softfork contracts protocol rulesets, making previously valid blocks invalid. A hardfork expands protocol rulesets, making previously invalid blocks valid.

  2. A hardfork would be done if the entirety of the community wanted to expand on their rules, make a clear change. If the community had two fundamentally different perspectives, one side could create a new currency based on their expanded rule.

  3. A hardfork decreases security by splitting the hashing power of the miners. It also does split the community which may be an unintentional consequence.

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