Homework on Soft and Hard Forks - Questions

[Virginia]

1 hard fork makes invalid blocks valid and soft fork makes valid blocks invalid
2 need to do a hard fork if you need to accept bigger blocks
3 hardfork splits the community

[Soran_K]

1. What is the difference between a soft fork and a hard fork?

soft fork: previously valid blocks becomes invalid.

hard fork: previously invalid blocks becomes valid.

Cryptocurrencies are implemented with software. Software is basically instructions or data that tell computers/participants in the system how to work or to behave. Al participants in the bitcoin network known as nodes need to follow the same rules in order to function and work together. The set of rules is known as protocol. Rules that all participants have to follow. The rules can the size of each block in the blockchain, the rewards the miners get when mining a new block, transaction fees etc. In the world of crypto, updates or changes in the system are called forks. Forks means creating an alternative version of the project.

A soft fork is backward-compatible upgrade. Upgraded nodes and non-upgraded nodes can still communicate. Soft forks are flexible. Allows the new version to get along with the old original version meaning that participants following the old rules can still follow the new rules.

Hard fork is where all nodes are updated or must be updated in order to process transactions or push new block to the blockchain. Clients following the old rules will find the new rules to be invalid in certain circumstances.

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

• Help patch security holes in the protocols.
• Create an alternative version of the project and pursue different goals.
• Fix certain issues or bugs.

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

• The community splits in two. Some support the original protocol and others support the new protocol.
  At this point, both blockchains are incompatible with others.
• A split in the chain and hash power is a con.
  The hash power displays how strong the network is.

More nodes --> more hash power --> more secure network. A split leads to less nodes participating --> less hash power --> less secure network.

[JonathanAllen]

1. A hardfork update makes previously invalid blocks valid, while a softfork update makes previously valid blocks invalid

2. You would get a clear update with a hardfork and you can increase the bite size.

3. hardforks split the chains, split the community, and the hash power is split

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[DearPhumi]

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.A soft fork update makes previous valid blocks invalid. A hard fork update makes previous invalid blocks valid. one contracts the rules and one expands.
2.To update the consensus rules.
3.Split the chain, Split community, Split of Hashpower.

[mhamour]

Homework on Soft and Hard Forks
1- HF an update where make an invalid block to valid, SF an update make a valid block to invalid.
2-when a change happen in consensus rules.
3- it will split the chain, the community, and the HASH power which will lead to less security

[JAM999]

Hardfork- previously invalid blocks valid
Softfork- previously valid blocks invalid

2)protocol update, consensus rules change.
3)hashpower reduces, increasing security risk

[maf_86]

1. What is the difference between a softfork and a hardfork?
   Soft fork makes previously valid blocks into invalid (Contraction)
   Hard fork makes previously invalid block into valid (Expansion)

2. What are some of the reasons why you would do a hard fork?
   I would never do hard fork or softfork either, they are both consequences when consensus rules are changed. In the aspect of a hard fork a strong benefit is the expansion the valid blocks, it is more democratic.

3. What are some of the risks with performing a hardfork?
   A hardfork splits the blockchain and it splits the hash power (community) as an outcome to decrease the security of the network.

[Dimitri_N]

1. A soft fork makes previously valid blocks invalid whilst a hard fork makes previously invalid blocks valid.

2. A hard fork would be done if you wanted to expand the consensus rules.

3. Risks with hard forks are permanent split of chain, split of community and a loss of hash power that can lead to security issues.

[eldor2011]

1. What is the difference between a softfork and a hardfork?
   a soft fork is when a previous valid consensus become invalid and hardfork the oposite.

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

3. What are some of the risks with performing a hardfork?
   Weaker chain as the hash power is split which would reduce security

[k_k]

What is the difference between a softfork and a hardfork?
Hardfork is where will expand the rule. Softfork is where we tighten the rules
What are some of the reasons why you would do a hardfork?
If you want to expand consensus rule
What are some of the risks with performing a hardfork?
Splitting community, splitting the chain; loss of hash power

[Castor]

1. A Softfork is where previously valid blocks become invalid - whereas
   a Hardfork is where previously invalid blocks become valid.

2. A Hardfork makes the change more clear and democratic.

3. Some of the risks are that it can split the community and thereby reduce the total hash power.

[GahuckImGoofy]

1. A soft fork is an updated rulebook that contracts the rulebook that was previously agreed upon, and a hard fork is a fork that expands the previously agreed upon rulebook.
2. The miners have a choice on which chain they want to mine on/mine for, basically a hard fork is more democratic compared to soft forks.
3. Hard forks split up the hash power, decreasing the security of the network.

[Letsgoswimming]

1. A soft fork makes narrows the rules and previously valid blocks will be invalid.
   A hard fork widens the rules and makes previously invalid blocks will be valid.

2. A hard fork can expand the rules to add new functions, the chain will split and new chain will carry on with anyone continue who agrees to the update.

3. The community will be split, also less hash power which makes it less secure.

[Clica]

• What is the difference between a softfork and a hardfork?

• A softfork is a contraction of the rule set and a hardfork is an expansion of the rule set .
  -softforks make previously valid blocks invalid while hardforks make previously invalid blocks valid.

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

• To change consensus rules

• What are some of the risks with performing a hardfork?

• The network becomes insecure because the hash power of the network decreases , the community is split .

[LenoraEl]

1. Soft Forks make previously valid blocks invalid while Hard Forks validate previously invalid blocks.
2. You may do a hard fork update to expand or contract some part of the Blockchain rule set. i.e raising the block size.
   3.A Hard fork runs the risk of splitting the community and splitting the hash power which can in turn lower the security of the network.

[Brett82]

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

2. A hard fork can occur through an update that makes a change to the rules of the network which allows the miners to mine larger blocks yet not all of the nodes in the network update to include this new set of rules and so these nodes disregard the new larger blocks and only the updated nodes accept them. A reason for making a hard fork would be that you now have a choice of which set of rules to follow allowing democracy in the network.

3. A risk of performing a hard fork is that the hash power of the network is split between 2 chains which reduces security.

[gravity]

1. a softfork makes previous valid blocks invalid. a hardfork makes previous invalid forks valid.
2. to add functionailty to the blockchain that the previous consensus didn’t allow for.
3. the network and community will be split, making the blockchain less secure at the same time

[Craft]

What is the difference between a softfork and a hardfork?
Hardforks can be described as a commit to the futre. Whereas, softforks can be described as a commit to the past.

What are some of the reasons why you would do a hardfork?
Hardforks are strategically implemented when a lack of backwards-compatibilities take place with legacy systems, (BYTECOIN, 2018).

What are some of the risks with performing a hardfork?
There are risks with performing hardforks. Including; splits in the chain, communities, hashpower, and security. Furthermore, a new currency may be vied as a risk.

References
BYTECOIN, (2018), Reasons for the Hardfork, Bytecoin (BCN) - anonymous cryptocurrency, based on CryptoNote; REtrieved From: https://bytecoin.org/blog/reasons-for-the-hardfork

[AD4]

1. A hard fork is when the consensus rules are expanded and make previously invalid blocks valid. A soft fork is when the consensus rules are contracted and make previously valid blocks invalid.

2. With a hard fork, there is a clear update and can also be viewed as more democratic.

3. Decrease of hash power and security and splits the chain and community.

[Anonymous]

1.softfork update defined by makes previously valid blocks valid.
Hardfork update defined by makes previously invalid blocks valid.
2.change in concensus.
3.the hash power split cause reducing security.