Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3092
  1. A soft fork makes previously valid transactions invalid. (Contraction of the rule set) A hardfork makes previously invalid transactions valid. (Expansion of the rule set)
  2. It is Democratic, and can split the chain into a new currency, meaning that those on the network can choose if they want to follow the new or old rule sets.
  3. Division of the community/hashrate & Decreased network security.
1 Like
#3093
  1. What is the difference between a softfork and a hardfork?
  • A softfork is an update to the network that makes previous valid blocks invalid and is a contraction of the consensus rules. A hardfork is an expansion of the consensus rules that makes previously invalid blocks valid. A hardforks can split the network with those who will receive the update and those who will not. A soft fork includes those who will not receive the update in the new consensus rules. Those nodes that do not want the update will still approve the blocks with the new consensus rules.
  1. What are some of the reasons why you would do a hardfork?

In order to change the consensus rules that govern the notes so as to:

  • Increase network security

  • increase potential usability

  • Promote adoption

  • etc.

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

  • Can divide the community.

  • Can divide the hash power creating less secure

1 Like
#3094
  1. What is the difference between a softfork and a hardfork?

A softfork makes previously valid blocks invalid (a contraction of the rules), a hardfork is where previously invalid blocks are made valid (an expansion of the rules).

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

The community may want to update the rules – a hardfork is the clearest and most democratic way to do this.

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

You risk splitting the community by splitting the chain, thereby making it weaker. You are also splitting the hash power which could have implications for the security of the network.

1 Like
#3095

  1. What is the difference between a soft fork and a hard fork?
    A soft fork makes previous valid blocks invalid. A hard fork makes previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    To add functionality/update the consensus in a democratic manner.

  3. What are some of the risks with performing a hardfork?
    The chain gets split, the community splits and the hash power is split which reduces security.

1 Like
#3096

  1. A softfork makes a previously valid fork invalid, a contraction of the rule. A hardfork makes a previously invalid fork valid, a expansion of the rule.

  2. Democratic as it needs 100% consensus and clear.

  3. Split hash power and split chain making the network less secure.

1 Like
#3097
  1. What is the difference between a softfork and a hardfork?

Hardfork makes previously invalid blocks valid, an expansive more inclusive fork

Softforks makes previously valid blocks invalid, a contracting and more exclusive fork

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

To make a clear update or newer improved currency or protocols, clear democratic split of ideas in the community.

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

Lose value from slpitting from the original currency/chain, community is divided so fewer miners on the network.

1 Like
#3098

1.Softfork occurs when a change in the rule makes previously valid blocks invalid, and only requires >50% of miners to implement the rule changes. Hard forks occur when new rules previously invalid blocks become valid blocks and <100% of the miners accept the rules change
2. Increase block size, reduce transaction times, change hashing algorithms, change or increase the utility or functionality of the chain
3. Can end up with two chains, another currency, split community, confusion, split hash power, reduction in network security

1 Like
#3099
  1. What is the difference between a softfork and a hardfork?

A softfork happens when previously valid blocks become invalid and the hardfork is the opposite.

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

for example if a change of consensus were to happen.

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

The hashpower will be spilt, along with the community. The security of the network would decrease.

1 Like
#3100
  1. a soft fork makes previously valid blocks now invalid, hard fork is the reverse
  2. to create a new currency is a pro, but generally a hard fork is done to widen the range of rules on the basis of consensus
  3. full split of both the chain and community… also would split the hash power and as such split the security/strength of the network
1 Like
#3101
  1. A hard fork makes invalid blocks valid and a soft fork makes previously valid blocks invalid.

2). A change in concensus

  1. Security of the network would be reduced.
1 Like
#3102

  1. softfork makes previously valid blocks invalid, hardfork makes previously invalid blocks valid.

  2. You might do a hard fork because you want to split the chain, of make things more democratic, create a new currency as with BTC and BCH

  3. If you don’t get 100 percent acceptance of the network there will be no fork. Also, when you split the chain you split the hash power since miners are picking which chain to stay on/leave, which reduces security.

2 Likes
#3103

  1. What is the difference between a softfork and a hardfork? HF is a expansion of ruleset. SF is a contraction of ruleset

  2. What are some of the reasons why you would do a hardfork? New currency may be required, clear update following an exchange hack

  3. What are some of the risks with performing a hardfork? Chain will be split, community split, split hashpower which reduces security

2 Likes
#3104
  1. A softfork makes previous valid blocks invalid. A hardfork makes previous invalid blocks valid. A soft fork only needs a 50% majority of the nodes to make it so that there is no fork in the blockchain. A hardfork would need 100% to make is so that there won’t be a fork.
  2. When you don’t agree with the how the network is developing you could start your own chain.
  3. It splits the community. Hashpower decreases which means security risks.
2 Likes
#3105

1. What is the difference between a soft fork and a hard fork?
• A soft fork occurs when previously valid blocks are made invalid (contraction in the rules) and a hard fork occurs when previously invalid blocks become invalid in the (expansion in the rules)
2. What are some of the reasons why you would do a hard fork?
• When there is divided opinion on how the network should continue to operate a hard fork can force a clear decision moving forward for miners/nodes resulting in a new blockchain.
3. What are some of the risks with performing a hard fork?
• hash power split which is a security risk to the network and a split in the community

1 Like
#3106

  1. A Hard Fork is created when an update makes a previously invalid block “Valid” vs a Soft Fork that makes a previously valid block “Invalid”

  2. To avoid a Fork, is democratic and clear

  3. Hash power is split causing reduced security, split chain and split community.

1 Like
#3107
  1. A Soft Fork will make a previously valid block invalid (a contraction of the rules) and a Hard Fork will make a previously invalid block valid (expansion of the rules). Compared to a Hard Fork, the Soft Fork does not create a chain split, a community split or the hash power split. But is non-democratic (as it only needs >50% of the nodes to update) and can create confusion and a lack of validation (for the nodes that don’t update).
  2. It is democratic, as all nodes need to accept the update ( or a chain split will be created) and, compared to the soft fork, doesn’t create confusion, is clearer.
  3. Can create a chain split, can split the community and the hashpower, witch is a security risk.
2 Likes
#3108

  1. A hard fork update is an expansion of the rule set, making previously invalid blocks valid. A soft fork update is a contraction of the rule set, making previously valid blocks invalid.

  2. A hard fork is a clear upgrade and it is more democratic: because the old rule set still fits within the new rule set, miners are not forced to accept the new rule set in order to produce valid blocks.

  3. Hard forks can split the chain, thus reducing the hash power used on a chain. This reduction in hash power can result in the reduction of network security.

1 Like
#3109
  1. HF can make previous invalid blocks as valids. SF can make previous valid blocks as invalids.
  2. To implement some new rules.
  3. Divides community and reduces security due to hash power split.
1 Like
#3110

1 Soft fork makes valid blocks invalid and a hard fork makes invalid blocks valid blocks.
2 Changing the set of rules consensus.
3 Dividing the hash function into two chains reduces the security of both networks.

1 Like
#3111

  1. A hardfork is an expansion of the current rule set, making previously invalid blocks now valid. Whereas a soft fork is a contraction of the rule set, which corresponds to previously valid blocks now becoming invalid.

  2. Increasing block size, increasing block frequency, supply limit etc

  3. A key risk is the affect this can have on network security - it splits the chain and the community which ultimately reduces the amount of hash power between each chain. This makes both chains less secure.

2 Likes