Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3032
  1. What is the difference between a softfork and a hardfork?

They are both created when updates to the blockchain happens.

Hard fork is created by updates that make previously invalid blocks valid. Only some percentage will accept update and therefore both blockchain will split and they will both continue. Example Bitcoin cash, Bitcoin diamond etc…

Sorf work is opposite and it makes valid forks invalid. Update happens but if we have more that 50% of hash power there is no block chain. If we have less than 50% then there is a fork.

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

To get a new currency

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

Split chain

Split community

Hash power is split

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#3033
  1. The difference between a soft and hard fork:
    Soft forks tighten block size that nodes can validate, whereas hard forks expand block size enabling nodes to validate more transactions that fall within the new consensus size (larger).
  2. A hard fork would be performed to create a new currency, or to be more inclusive of the transactions that are validated, also to create clear rules for nodes to follow.
  3. Some of the risks associated with a hard fork, are the split of the community, a number of miners may not want to adopt an expansionary size of block.
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#3034

What is the difference between a soft fork and a hard fork?
A hard fork is an update that makes previously invalid blocks, valid. New rules apply which now allow invalid blocks to be propagated to the network.
A soft fork is an update that makes previously valid blocks, invalid.

What are some of the reasons why you would do a hard fork?
For clarity and to allow democracy

What are some of the risks with performing a hard fork?
Split chain, split community & hash power split

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#3035

  1. What is the difference between a softfork and a hardfork?
    basic breakdown: SF makes currently valid blocks invalid while HF are making currently invalid blocks valid

  2. What are some of the reasons why you would do a hardfork?
    If you want the consensus protocol to fit a wider range of parameters

  3. What are some of the risks with performing a hardfork?
    You can reduce overall hashing power if 2 both forks are running which can compromise security, cause chain split and also community splits. A new currency might emerge from the HF which could be a pro or a con depending on viewpoint.

1 Like
#3036

  1. A soft fork is one that is caused by an update which makes previously valid blocks invalid, and a hard fork is caused by an update which makes previously invalid blocks valid. Another way of saying this is that soft fork updates contract the rule set, and hard fork updates expand the rule set. A hard fork will lead to an actual split of the chain and the community, whereas a soft fork will generally disappear if >50% of the hash power has made the update.

  2. You might do a hard fork if the community can’t reach agreement on which rules to follow, and so it becomes more desirable to split the chain and the community and allow each sub group to continue with the rules that they want to follow.

  3. One of the risks in performing a hard fork is that in splitting the community you also split the combined hash power of the miners, and this will lower the security of the chain (or to be precise, of both new chains).

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#3037
  1. A soft fork will make the previous valid blocks invalid and a hard fork will make the previous valid blocks invalid.
  2. A hard fork will change the consensus of the network and will create another protocol.
  3. When you create a hardfork this will create split hash power and security issues.
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#3038

  • What is the difference between a softfork and a hardfork?
    -> softfork : previously valid blocks become invalid
    -> hardfork : previously invlaid blocks become valid

  • What are some of the reasons why you would do a hardfork?
    -> to apply a new rule sets

  • What are some of the risks with performing a hardfork?
    -> split the community --> reduce the security

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#3039
  1. What is the difference between a softfork and a hardfork? - a softfork it’s an update that makes a previously valid block invalid(contraction), a hardfork makes a previously invalid block valid(expansion).
  2. What are some of the reasons why you would do a hardfork? - it provides a clear update, it’s more democratic(it’s very vague the explanation Filip gave, I just ‘recite’, I do not ‘feel’ what he meant), it generates a new currency(again vague explanation from Filip). It needs 100% of the network to update.
  3. What are some of the risks with performing a hardfork? - It splits the chain, it splits the community, it splits the hash power, thus the security is reduced.
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#3040

  1. soft fork will disregard previously good blocks and hard for will do the opposite

  2. it’s a clear update, often expanding the rules

  3. decreasing the hashpower, creating new spin off of currency

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#3041
  1. Hard fork is update of the chains ruleset in which it makes previous invalid blocks valid
    Soft fork is update of the chains ruleset in which it makes previous valid blocks invalid
  2. It is clear and democratic
  3. It splits communities and splits hash power thus resulting in lower security
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#3042

  1. What is the difference between a softfork and a hardfork?
    Soft fork is caused by an update that makes previously invalid blocks become valid, on the other hand hard fork is caused by an update that makes previously valid blocks become invalid

  2. What are some of the reasons why you would do a hardfork?
    If you want to do an expansion of the rule sets with a clear update

  3. What are some of the risks with performing a hardfork?
    It splits the chain and the community, as well as the hash power which will reduce the security

2 Likes
#3043

A hardfork makes rules that are previously valid invalid; while softfork makes ruels that are previously invalid rules valid.

When you want to create a different currency, a different consensus is reached within a community you might want to do a hardfork.

You would reduce the security due to redirecting the hash power.

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#3044
  1. What is the difference between a softfork and a hardfork?

Answer:
hardforks = an update makes previously invalid blocks valid
softforks = the update makes previously valid blocks invalid
with the update of an hardfork the block can have 2mB
with an softfork update the block size becomes from 1 mB to 0.5 mB

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

Answer:
Clear update / on which site on the chain you are / on the previous or on the new chain
And it is democtratic

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

Answer:
We split the chain and the community what reduces safety

3 Likes
#3045

  1. hardfork is an EXPANSION of the ruleset vs soft fork is a CONTRACTION of the ruleset

  2. to issue a clear update of consensus rules

  3. the risks of hardfork are splitting the chain which splits the community as well as the Hashpower leaving the network less secure.

1 Like
#3046

  1. What is the difference between a softfork and a hardfork?
    A) Soft fork: Update that makes a previously valid block, invalid.
    Hard fork: Update that makes a previously invalid block, valid.

  2. What are some of the reasons why you would do a hardfork?
    A) Increasing block size. Ex: 1MB ----> 2 MB / Clear update.

  3. What are some of the risks with performing a hardfork?
    A) Hashpower is split decreasing security.

1 Like
#3047

  1. Hard forks make previously invalid blocks, valid while soft forks make previously valid blocks, invalid. Hard forks split the hash power in not two new chains while soft forks end up keeping the chain intact.

  2. A hard fork requires 100% buy-in from the miners while a soft fork forces the chain into the new consensus rules. The hard fork changes are made more clearly and democratically.

  3. Hard forks split the hash power which reduces adoption and security of the individual chains. The hard fork will also divide the community.

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#3048

A softfork makes previously valid blocks invalid. A hardfork makes previously invalid blocks valid.

To create a new currency, allowing people to choose which protocol they want to go with.

Reduces the number of miners which compromises security.

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#3049

1.) When a Hard Fork is happening, the rules of the Blockchain (consensus) are expanding. A soft fork is decreasing the rules.

2.) If the rules need to change a hard fork will happen.

3.) U split the community and the hash power of the main-chain, so the chain get more vulnerable.

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#3050

1 Blocks are invalidate after a Soft (1mb - 0.5mb), and validate after an Hard fork (1mb - 2mb).
2 To gain democratic consensus, and create a new project or token.
3 Reducing of network’s security and, of the hash power because of the splitting.

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#3051
  1. What is the difference between a softfork and a hardfork? a hard fork makes previously invalid blocks valid and a soft fork make previously valid blocks invalid. A hard fork causes the blockchain to split while with a soft fort, if >50% of the hash power abides by the new rules set, there is no fork.
  2. What are some of the reasons why you would do a hardfork? to allow democracy and have the community choose which consensus protocol they want to follow; to create new project/currency.
  3. What are some of the risks with performing a hardfork? It makes the network more vulnerable from a security perspective, i.e the hash power is split and there would be less parties that need to agree upon the verification of a transaction.
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