Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3052

  1. What is the difference between a softfork and a hardfork?
    Soft fork makes previously valid block invalid where as hard fork makes previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    If there is a change in consensus

  3. What are some of the risks with performing a hardfork?
    It might lower the security.

1 Like
#3053

1.) A Hardfork expands the ruleset, a Softfork contracts the ruleset
2.) To get a new currency, add a new functionality, update the Blockchain
3.) It splits the community and its hashing Power. Lower hashing power = lower security

1 Like
#3054

  1. hardfork is an expansion of rules and the software is a contraction of the rules

  2. i dont know?

  3. losing a part of the community and the currency?

1 Like
#3055

Some reasons a hard fork occurs are to do a clear and democratic upgrade or a change in consensus rules.

2 Likes
#3056

  1. What is the difference between a softfork and a hardfork?
    Hardforks makes previously invalid blocks valid while soft forks makes previous valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork?
    If a consensus algorithm needs to change but the community cannot agree to it.

  3. What are some of the risks with performing a hardfork?
    it Splits the chain and there is lower security since hash power will be cut.

2 Likes
#3057 
  1. What is the difference between a softfork and a hardfork?

A soft fork reduce rules for valid blocks and its updates are backwards compatible. A hard fork expands the rules for valid blocks and its updates are not backwards compatible.

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

A need for change in consensus rules, expanding the rules and make democratic updates.

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

If community is split, so the hash power also be split, reducing the security in the network.

1 Like
#3058
  1. What is the difference between a softfork and a hardfork?

A soft fork makes previously valid blocks invalid by constricting its own rule set hence it works within its own rule set.

A hard fork makes previously invalid blocks valid hence expanding its rule set.

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

Hard forks are seen as being more democratic as nobody is forced into going with the majority and can be used to make new coins such as bitcoin cash.

  1. When performing a hard fork you are going to create a new permanent blockchain which will both split the community and the hash power between the two networks making them less secure.
1 Like
#3059
  1. What is the difference between a softfork and a hardfork?

A hardfork is an expansion update to the set of rules for the blockchain which makes previously invalid blocks valid while a softfork is an contraction update which makes previously valid blocks invalid.

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

They can ensure there is a clean update on the blockchain, to produce a new cryptocurrency and is seen as more democratic.

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

You will lose hash power due to splitting the community into those who update and those who don’t and of course the chain gets split aswell.

1 Like
#3060

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previously valid blocks invalid and a hard fork makes previously invalid blocks valid.
    This also means that for a softfork you only need >50% of the nodes to accept the changes to make the blockchain not fork due to the blockheight always coming back to the changed rules chain over time.
    For the hardfork you need 100% of the nodes to accept the changes otherwise you will end up with 2 chains.
    A question on the hardfork of Bitcoin to Bitcoin Cash, does that mean that anyone holding Bitcoin before the hardfork to Bitcoin Cash will also get the same amount to Bitcoin Cash ?

  2. What are some of the reasons why you would do a hardfork?
    Democratically it is a clear change to the blockchain and forces the community to choose which chain they follow, so it does not force the community to take the proposed changes.

  3. What are some of the risks with performing a hardfork?
    Some of the risks of performing a hardfork are split chain, reduced hash rate and a split community.

1 Like
#3061

  1. What is the difference between a softfork and a hardfork? A softfork contracts as it decreases the block size. It makes a previously valid block invalid whereas a hardfork expands by making an invalid block valid.

  2. What are some of the reasons why you would do a hardfork? You’d do a hardfork to create a new currency, to make a clear updater create a democratic outcome.

  3. What are some of the risks with performing a hardfork? Some of the risks of performing a hardfork are the hash power split reduces security also disagreement/split of the community.

1 Like
#3062
  1. What is the difference between a softfork and a hardfork?

A hardfork will permanently create a new chain (and currency) whereas a softfork will only continue down the main chain and eventually ignore the competing chain. A hardfork makes invalid blocks valid and a softfork makes valid blocks invalid.

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

If you wanted to implement new rules outside the existing ruleset. It is also fully democratic as the nodes get to choose to update and remain on the current chain or fork over the a new chain with the new ruleset.

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

Splitting the community, the chain and the hash power.

1 Like
#3063
  1. Soft forks make previously valid blocks invalid, but all nodes can still process the same transactions. Hard forks make previously invalid blocks valid, so old nodes cannot process new blocks.
  2. To change the ruleset to upgrade the network a certain way which expands capabilities.
  3. Nodes who choose to run the old ruleset will reject the new blocks, which will form two separate chains and split the network.
1 Like
#3064
  1. Main difference is that soft fork doesnt split the chain, it keeps old and new update block at the same chain, where hard fork update splits the chain. Soft forks can work within existing rules, where hard forks cannot.
  2. When some major updates are being done, for example to increase security of network, increase efficiency or add functionality.
  3. It can split community and hash power.
1 Like
#3065
  1. What is the difference between a softfork and a hardfork?
    A hardfork makes previous invalid blocks valid and a softfork makes previous valid blocks invalid.
    While a Hardforf expands the rules a sorftfok narrows the rules for valid blocks
  2. What are some of the reasons why you would do a hardfork?
    To have a clear update, For performance improvement, To Increase the size of the block, To create a new currency,
  3. What are some of the risks with performing a hardfork?
    The chain will get split as well as the community, and also the hash power will split reducing the security
1 Like
#3066
  1. A hard fork makes previously invalid blocks valid, a soft fork makes previously valid blocks invalid. When a soft fork update occurs, not all nodes will update simultaneously. For a time there will be nodes which adhere to the old rules and nodes which follow the new rules. This leads to a brief chain split. Both old & new nodes will add blocks to the “new chain” and only the old nodes will add blocks to the old chain. This leads to the “new chain” becoming longer and replacing the old one.

A hard fork will always lead to a permanent chainsplit unless all nodes update.

    1. A hard fork would be necessary to add new functionality across a chain (for example increasing block size and thereby the number of possible transactions per block), and implement other rule set changes
    1. A hard fork will not only lead to a chain split, the community may be split up as well. Also, the chain split leads to a reduction in hash power, as some miners will choose to stay on the “old” chain.
1 Like
#3067

  1. Hard Fork:
    a. 100% nodes need to update,
    b. based on expansion of the rules set
    c. may couse network division
    d. may couse hash power reduction and security reduction
    Soft Fork:
    a. Majority need to update (over 51%)
    b. based on contraction of ruleset

  2. Ex. when U want create a new chain with new currency, that is better in some way (faster, safer etc.)

  3. U devide a comunity, reduce a hash power so decrease safety.

1 Like
#3068

  1. Softfork is an update to the networks rule set in achieving consensus through the tightening of the rule. This causes previously valid blocks invalid due to the contraction. Hardfork on the other hand is an update of the networks rule set through expansion. This makes previously invalid blocks valid.

  2. Hardfork is much more democratic as it gives a choice to the nodes in the network to participate or not participate in the new update. Hardfork gives clarity to the community of the changes that is going to take place in the network.

  3. Hardfork major risk is it splits the hash power in the blockchain’s network. In the case that not all the nodes in the network agrees on the update, the chain will be split between the updated and not updated chain. This can compromise the safety of the chain and it causes a split in the community.

1 Like
#3069
  1. soft fork is when previously valid blocks are made invalid and hard fork is when previous blocks were made invalid become valid

2 to make new clear rules plus change the vision in that network

3 would split community and have to create a new currency

1 Like
#3070

hard fork updates create larger blocks, and usually causes a split in the chain while doing so, a soft fork does not split the chain or community but this update will make the blocks size smaller.

people typically make a hard fork to make the project more adaptable, like BTC and BCH
or YFI and every other YF project

big risk in creating a hard fork is loss in security by chain splits ( split hash power) split community and split love for the project

1 Like
#3071

What is the difference between a softfork and a hardfork?
In a soft fork, previously valid blocks are made invalid, while in a hardfork, previously invalid blocks become valid

What are some of the reasons why you would do a hardfork?
A hard fork would be done if the consensus for block acceptance needed to be updated

What are some of the risks with performing a hardfork?
Divides community, divides chain, divides hashpower (miners), compromises security of the blockchain

1 Like