Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3012

1.An update leading to a Hard Fork is an update that make previously INVALID block VALID.
An update that leads to a Soft Fork is an an update that makes previously VALID blocks INVALID.

  1. As an Hard Fork it’s an EXPANSION of the rule set, this might force the rest to adopt that rule. Also if a new set of rules are asked be implemented to change the usability of the asset itself, this brings to a split, forming new assets like bitcoin cash for example.

  2. It could split the chain, it could split the community, split the hash power and it reduces security.

1 Like
#3013

  1. What is the difference between a softfork and a hardfork?
    -The difference between these two is to upgrade the ruleset you need to convince all the nodes for hardfork, for soft fork you need to have 50% hash power to upgrade the set of rules.

  2. What are some of the reasons why you would do a hard fork?
    -To correct important security risks found in older versions of the software.

  3. What are some of the risks with performing a hardfork?
    -With hardfork man can create splits the blockchain and community. It
    will reduce the hash power, which means less security.

1 Like
#3014

1. What is the difference between a softfork and a hardfork?
SF: An Update which makes previousliy valid blocks invalid ( Blocksize old 2MB now 1MB )
You “only” need 50+1 % to do a SF
HF: An Update which makes previousliy invalid blocks valid ( Blocksize old: 1mb ; now 2MB )
You will need 100% of the community to do a HF

2. What are some of the reasons why you would do a hardfork?
As example to implement new possibilities. As example increase the blocksize from 1to 2 MB
Or If you want to create a new currency…

3. What are some of the risks with performing a hardfork?
If you do not get 100% of the community in the boat you then will risk a split of chains. Which means
that we have the same history, but a different future… ( As example BTC and Bitcoin Cash)
Which means you will loos hashing power and parts of the community.

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#3015

1. What is the difference between a softfork and a hardfork?
A hardfork makes previously invalid blocks valid it is an expansion of rules for the blocks while the soft fork makes previously valid blocks invalid and decreases the ruleset for the blocks.
2. What are some of the reasons why you would do a hardfork?
If you want to change the ruleset expand it like BTC -> BCH. If you want to split the blockchain - community and make a new currency while softfork is really not used for splitting the blockchain but only to update - tighten the rules.
3. What are some of the risks with performing a hardfork?
It reduces security because the hash power splits between two chains.

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#3016
  1. What is the difference between a softfork and a hardfork?

Hardfork - when a previously invalid block is now valid, expansion of ruleset
Softfork - when a previously valid block is now invalid, contraction of ruleset

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

If you are expanding ruleset for block creation in the network to add functionality to network that can’t be done inside the current spec.

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

Split of community, chain, and hashpower.

1 Like
#3017

  1. A softfork is caused when previously valid transactions become invalid; and a hardfork is caused when previously invalid transactions become valid.
    The main difference is that with the hardfork, you have a clear separate chain for those miners who have still not updated and continue to refuse to add the blocks mined by the miners who have updated.
    For the softfork, the miners who have not updated will still accept the new blocks mined by miners who have updated and the block chain will continue and as long as the hash power is more than 50% and in the majority that will be okay as the chain will continue.

  2. Some of the reasons involve change in the rule set such as the block size change.

  3. Some of the risks for hard fork involves reduction of hashpower as the community of miners is split and that weakens the security.

1 Like
#3018
  1. What is the difference between a softfork and a hardfork?
    Hard fork: an expansion of the mining rules i.e. where previously invalid block would now be valid, normally resulting in a new cryptocurrency

Soft fork; a contraction of the mining rules i.e. previously valid blocks would now be invalid

  1. What are some of the reasons why you would do a hardfork?
    There is differing vision between developers and community what direction they want to take the cryptocurrency in

  2. What are some of the risks with performing a hardfork?
    This potential division between miners can weaken the security of the network.

1 Like
#3019
  1. 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.
  2. A hard fork would be done if consensus needed to be changed.
  3. The risk would be split hash power and a less secure network and a split chain.
1 Like
#3020

  1. What is the difference between a softfork and a hardfork?
    A softfork is an update of the validation rules that makes earlier valid blocks invalid (contraction) while a hardfork does the opposite, an update that makes earlier invalid blocks valid (expansion).

  2. What are some of the reasons why you would do a hardfork?
    If you’d like a new cryptocurrency, and is a clear and democratic update compared to softfork

  3. What are some of the risks with performing a hardfork?
    Divide the hashpower which leads to bigger risks security wise. As well as divides the community

1 Like
#3021
  1. In hard fork update previous invalid blocks are valid (e.g. minimum block size is increased from 1kB to 1.5kB) but in soft fork update previous valid blocks are invalid
  2. New rules to the blockchain are clear (clear upgrade to the rules). Those in disagreement would not be forced to adopt the change.
    3.Can split the original community, network has less hashing power
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#3022

  1. a soft fork is an update that makes previously valid blocks invalid (a contraction of the rules). a hard fork is an update that makes previously invalid blocks valid (an expansion of the rules).

  2. A hard fork update would be done to show the community that a clear change in the rules was made and is democratic in the sense that all users have to opt-in to the new rule set. It respects the rights of the nodes on the network in the sense that they can continue to mine under the previous rules if they wish.

  3. The risks with a hard fork are that the community is diluted, this may result in a reduction in hash power and security for the blockchain (if there is not 100% adoption of the hard fork update). These potential risks should be weighed against the potential increase in adoption of the blockchain by new users following the update.

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#3023
  1. Hard forks makes invalid blocks valid, soft blocks makes valid blocks invalid
  2. a new currency?
  3. Hard forks are likely to split the community and the hash rate.
2 Likes
#3024

  1. Hard fork to expand rules, make previously invalid blocks Valid.
    Soft fork to “decrease” rules, make previously valid blocks invalid.

  2. Changes in the concensus.

  3. Decrease the number of participants(since it is splited), ending up decreasing the network security as well.

2 Likes
#3025

  1. The difference between hard and soft forks is that, a hard fork expands the rule set, while a soft forks contacts the rule set.

  2. A hard fork can be used to establish democratic consent to expand the functionality, like, create a new coin for example.

  3. To continue on the answer above, with a hard fork, you run the risk of splitting the community and therefore reducing hash power.

2 Likes
#3026
  1. A hard fork is an update that makes previously invalid blocks valid (expansion of ruleset), while a soft fork is an update that makes previously valid blocks invalid (contraction of ruleset).
  2. Hard forks are clear and democratic.
  3. Hard forks split the chain, the hash power (less security) and the community (new currencies).
1 Like
#3027

  1. What is the difference between a softfork and a hardfork?
    Hard forks are created when the consensus rules are updated in a way that would make previously invalid blocks now valid for future blocks.
    Soft forks are created when the consensus rules are updated in a way that would make previously valid blocks now invalid for future blocks.

  2. What are some of the reasons why you would do a hardfork?
    To loosen up the specs that would make blocks more easily verified.

  3. What are some of the risks with performing a hardfork?
    splitting the community up with some liking the old consensus rules and others liking the new consensus rules.

1 Like
#3028

. A soft fork is an update on the blockchain protocol that is backward compatible, i.e. it introduces some changes in the code that do not severe the functional continuity with its previous version. On the contrary, a hard fork consists of changing the blockchain protocol in a way that is not backward compatible, hence introducing a discontinuity with the previous version.

Change TXfees and times Patch security holes in protocols

Could split the community and cause tension.

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#3029

  1. A Soft Fork is a fork that makes a previously valid rule invalid, i.e. it contracts the rule set. A Hard Fork is a fork that makes the previously invalid rule valid, i.e. it expands the rule set.

  2. It may be that the size of the blocks newly accepted are made larger.

  3. The hard fork is more likely to split the block chain, but also split the community as there will be those still operating on the “wrong side” of the update. This has a knock on effect to the hash power given to the network to be able to perform the block confirmations effectively.

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#3030

1.) A softfork makes a previous valid block invalid and contract the rule set. The hardfork expand the rule set and makes previous invalid blocks valid.

2.) To introduce clear and democratic changes of consensus to the network.

3.) The probably biggest risk by performing a hard fork is the lose of security through reducing the hash power. Split of community and chain would be others.

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#3031

  1. The difference between hard and soft forks is the impact to the consensus rules and block validity. Soft forks result when previously valid blocks become valid. Hard forks result when previously invalid blocks become valid.

  2. A hardfork might be done to create a new coin or to alter the consensus rules/chain mechanics

  3. Risks of hardforks include reduced hash power and splitting up the community

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