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What is the difference between a softfork and a hardfork?
A hardfork changes the consensus rules such that a previously invalid block is now valid. Example used is block sized. If the allowable block size increases, then blocks that were previously rejected would be accepted into the chain.
A softfork is an update that makes previously valid blocks invalid.Expansion (Hardfork) / Contraction (Softfork) of the rule set.
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What are some of the reasons why you would do a hardfork?
Updating consensus rules. -
What are some of the risks with performing a hardfork?
Force the network to update, possibly resulting in more stale blocks that usual that will need to go back to the mempool to be remined, impacting miner revenue and customer satisfaction due to increased transaction confirmation time.
1_ Soft fork update makes the ruleset stricter (less valid blx). Hard fork update expands it’s ruleset (more valid blx)
2_ To create a new currency or to enforce new consensus
3_ you split the chain splitting total hashpower, this decreases security. (less miners, lowers puzzle diff).The community may get divided over this decision
- After an update
there is actually a split of the chain with HF. At SF, the rules have been tightened and no splitting takes place. - The community consciously
and democratically 
to split up to create a new 
currency with different set of rules 
applied than the previous standard. - When the community splits up
, the computing power 
splits too , which in turn can undermine the level of security 
and availability 
throughout the global 
network.
A hardfork is where they take invalid tansactions and make them valid to create a ‘new’ chain. Softfork is taking valid transactions and making them invalid.
A hardfork would be done if you want to make a massive change on the network.
Hardforking is like making a perminant change so if it wasnt tested enough it could lead to bad networking.
- What is the difference between a softfork and a hardfork?
- one of the main differences is that the soft forks are a contraction of the ruleset with which the update comes along and makes previously valid blocks invalid while the hard fork is an expansion of the ruleset where the update makes previously invalid blocks valid.
- What are some of the reasons why you would do a hard fork?
- One of the reasons can be changing the consensus rules and with that, you make the invalid blocks - valid so the people will gain fees, one also expands the rules of the network, they are easier to understand, implement and enforce. Another reason can be to create a new currency, also increasing the block size.
- What are some of the risks of performing a hard fork?
- the hash power will be split which can reduce security and like this also is splitting the community which can lead to confusion, and another risk is that many blocks can become stale.
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In a hardfork you make former invalid blocks valid. In a Softfork you make prev valid blocks invalid.
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One reason could be that there is no other choice left. If you want to expand the rules a hardfork is inevitable. One advantage is that every miner kann decide for themselve if they want to apply the rules or not.
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One risk is that you have two forks. This reduces hashpower therefore security. Anotherone is that it splits the community itself.
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Hardfork makes previously invalid blocks valid, softfork does the opposite.
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When you are expanding a block size one may do a hardfork. The blockchain doesn’t update instantly, so it would cause a split.
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Hardfork may split the chain and split the community.
- A softfork makes previously valid blocks invalid and a hardfork makes previously invalid blocks valid.
- A hardfork expands the rules of the network. It provides clear and democratic updates to the network, new currencies, and consensus rule changes.
- Split chain and split community causing split hash power which reduces security.
- A softfork makes a previously valid block invalid, whereas a hardfork makes a previously invalid block valid.
- You can create a new currency and to perform democratic updates.
- The hash power of your blockchain can be reduced, reducing security. You can split the chain and community resulting in a new currency
- a soft fork only needs 50% of the network to update to the new rule set where as hard fork needs 100% to update.
- to perform a clear upgrade and is more democratic than a soft fork
- you end up having a split chain and split community
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Soft fork is update that makes previously valid blocks become invalid, and it takes 50% or more hash power to avoid a fork; While hard fork is update that makes previously invalid blocks become valid, and it takes 100% of the network to update in order avoid a fork.
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To improve certain functionality, to correct a security issue.
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The risks include causing the chain to split, causing the hash power to split, causing the community to split
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SoftFork makes peviously valid blocks invalid. Hardfork makes previously invalid blocks valid.
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You are able to derivate new cryptocurency with changed protocol by forking old one.
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Spliting hash power, spliting community, weakening old coin
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What is the difference between a softfork and a hardfork?
A soft fork makes previously valid blocks invalid. Hard forks make previously invalid blocks valid. -
What are some of the reasons why you would do a hardfork?
Since it is a clear type of update, nodes can choose to update or not. Hard fork update can create a new cryptocurrency. If you would like to increase block size… -
What are some of the risks with performing a hardfork?
In the case of a hard fork, you split the chain and community. The hash power splits, which affects the security (it is lower).
- A hardfork changes the rule set to make previously invalid blocks valid, compared to a softfork which makes previously valid blocks invalid.
- A hardfork is clear and considered democratic because miners can choose whether or not they want to operate under the new rule set.
- You could end up splitting the community which would result in a split in hash power and thus a reduction in security.
- What is the difference between a softfork and a hardfork?
-HF makes the invalid block valid. validation accept when get the 100% agreement by the miner
-SF makes the valid block invalid. validation accept by majority more than 50% - What are some of the reasons why you would do a hardfork?
- to increase the block size and set of rules
- What are some of the risks with performing a hardfork?
-split the hash power, and decrease the security, create split community
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Softforks are created when an update makes previously valid blocks invalid, whereas hardforks are created when an update makes previously invalid blocks valid.
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To create a new currency or to update security risks.
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The blockchain hashrate might get smaller if every miner does not update. Potentially create an unwanted new currency.
1- A softfork invalidates already existing blocks while the hard fork validates already existing blocks
2-To make big changes on the network like implementing new rules
3-It can split the community and the hash power. This reduction of hash power can potentially be a reduction in network security.
- A hard fork is a change to the blockchain rules which makes a block that was previously invalid, now valid. Said differently, the block of the past would still be approved even under this new ruleset. A soft fork makes blocks that were previously valid, now invalid. Said differently, the block of the past is no longer able to be accepted under the existing rules.
- A hardfork occurs when there are changes in vision or improvements desired on the blockchain. They are done to expand the rules of the blockchain. These splits often result in a split of the blockchain and a different coin. Hard forks result in clear splits of a chain and are democratic in that miners and nodes must make a choice between one or the other.
- Risks of a hard fork are split to the community, reduction of hash power and a split to the chain.
Hardfork makes previously invalid block valid. Soft fork makes previously valid block invalid.
2.
When a major update is being prepared which could change blockchain forever then it would me of utmost importance to be accepted by whole community. Such update can be made only by the way of hard fork.
3. It can split community, some would choose to follow update, other would like to remain with current status quo.
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Softfork is compressing/reducing the set of rules while a hardfork is expanding them. A softfork makes previously valid blocks invalid while hardfork makes previously invalid blocks valid, therefore possibly causing a fork to develop and eventually having quite a large number of blocks not corresponding to the rules. While a softwork eventually makes the majority of blocks to correspond to the latest set of rules as they will follow the longest blockchain.
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The rules and future requirements are more clear and can be considered more democratic since it will be clear how the miners/blocks will choose to react to new rules - update or not update according to them. It could paint a more clear picture of the choice.
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Hardfork creates a parallel set of true/verified blocks more likely since it cannot ensure that majority will automatically or eventually comply with the new rules. If the resistance to new rules is strong it can create a strong split in the community. Parallel blockchains mean that the overall security is lowered.