Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3152

Homework - Forks
Blockchain Updates & Forks

What is the difference between a softfork and a hardfork?

A softfork contracts, a hardfork expands the rule set.

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

To make a new currency, to change rules, to expand for instance size of blocks and make previously too big ones allowed. Change consensus in a democratic way.

What are some of the risks with performing a hardfork?

The hash power is split and the community too. Not sure Filip says why that is dangerous yet.

1 Like
#3153
  1. What is the difference between a softfork and a hardfork?
    **A hard fork (HF) update is an expansion of the rule sets and takes previously invalid blocks and turns them into valid blocks. They are a clear and democratic update and a required action to continue. 100% Ecosystem adoption is required. **

Conversely a soft fork update (SF) is a contraction in the rule sets and takes previously valid blocks and invalidates the blocks. The majority rules in this instance, there is no chain split or division in the Network Community.

  1. What are some of the reasons why you would do a hardfork?
    A hard fork (HF) is a clear and democratic update and is done if consensus needs to be revised.

  2. What are some of the risks with performing a hardfork?
    Risks or ā€œConsā€ when perfomring a hard fork (HF) include, but may not be limited to a split in the chain, division of the ecosystem community, it can compromise security and divide the hash power.

rjr
2021-03-08T05:00:00Z

1 Like
#3154

  1. Hardfork occurs when changing the consensus rules makes the previously Invalid blocks valid, while soft fork occurs when changing the consensus rules makes the previously valid blocks invalid. The Hardfork results in a permanent split in the chain and creation of new currency, while softfork the blockchain will take the chain with the longest blocks, and the other block will become stale.

  2. Reason for Hardfork is democratic, nodes can choose to follow the preferred new chain, and the split is clear.

  3. Reduces hash power on the network, which reduces security.

1 Like
#3155

A softfork is an update that makes previously valid blocks invalid and a hardfork is an update that makes previsously invalid blocks valid. Hence a softfork is tightening the rules (contracting) and a hardfork is expanding the rules.

Itā€˜s an expansion of the current set of rules. This can happen if not 100% of the network agrees to these rules and hence they will split. Some examples of this are the creation of new currencies e.g. Bitcoin Cash, Bitcoin SV, Bitcoin Gold, Bitcoin Diamond

When performing a hard fork the hashpower will be reduced and could result in reduced security. Hence itā€˜s not that safe anymore since the chain is broken. On top you have also a splitted community.

1 Like
#3156

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    A hardfork is an update that expands the block size/rule set for mining, for example 1mB blocks will be 2mB and the blocks will accept previously invalid blocks(2mB) along with the 1mB blocks. This splits the chain and makes it less safe but more democratic as all nodes must agree to this update. Soft Forks are a reduction/contraction of the rule set and makes previously valid blocks invalid. If the previous acceptable block size was 2mB, the new rule set would contract that to 1mB or whatever smaller block size they choose and will reject the 2mB size blocks. This creates two chains with updated nodes accepting only the new smaller rule set blocks and old nodes mining both new and old rule set blocks.

  2. What are some of the reasons why you would do a hardfork?
    You would do a hardfork to include more block size and expand your network, create a clear update that is followed by all.

  3. What are some of the risks with performing a hardfork?
    Sometimes not all nodes update and this causes a split in the chain that can reduce security and hash power temporarily.

1 Like
#3157

  1. What is the difference between a softfork and a hardfork?
    A hardfork is an expansion of functionality. A softfork is a contraction.

  2. What are some of the reasons why you would do a hardfork?
    To expand the capability e.g. enable smart contracts, increase the block sizeā€¦

  3. What are some of the risks with performing a hardfork?
    The community and the chain can be split. Previous examples of this are bitcoin cash, SV etcā€¦

1 Like
#3158

  1. The difference between a hard fork and a soft fork is that they are essentially opposites. Hard forks make previously invalid blocks valid due to expansion of the consensus rules whereas soft forks make previous valid blocks now invalid due to contraction of the rules.

  2. Some of the reasons why you would do a hard fork is due to an update happening where not all of the nodes in the network are aware of the update, so they accept the previously accepted rules and two different blocks are created. Eventually, the invalid block will be dropped. A benefit of a hard fork is that a clear update is given and there is less confusion like there is during soft fork updates.

  3. Some of the risks include a split in the blockchain as well as a split in the hash power.

1 Like
#3159

  1. The main difference is a soft fork makes previously valid blocks invalid and a hard fork the opposite.

  2. For expanding the protocol rules and for creating a non-ambiguous operating network. In soft forks, some nodes can have validation issues since they did not update yet they operate on the same chain as the updated nodes.

  3. Splitting the community, splitting the hash power, potential security issues with a smaller/weaker network. The more nodes and value being transferred on a network the stronger that network becomes.

1 Like
#3160

  1. A soft fork is a majority rule update (hash power < 50%) that results in the expansion of the rule set, generally causes no split in the chain, keeps the community, and makes previously valid blocks invalid. A hard fork is an update that splits both the chain and the community, creates a new currency, results in a contraction of the rule set, all nodes must update to the new rules and makes previously invalid blocks valid.

  2. A hard fork may be done as a developmental action to update the consensus protocol for the entire network, to fix security risks found in older versions, to add new functionality and even reverse transactions.

  3. It is important to understand and be aware of the intentions behind a hard fork and what this new community seeks to accomplish before commiting to a new blockchain, as any person or entity can hard fork any open source cryptocurrency project. It will split the chain and the community, create a new currency with a new version of the truth, as well as compromise security in terms of deceased hash power from the original chain.

1 Like
#3161

  1. What is the difference between a softfork and a hardfork?
    Hard forks expand the current rule set for blocks, while soft forks constrict the current rule set.

  2. What are some of the reasons why you would do a hardfork?
    To add new functionality to the blockchain.

  3. What are some of the risks with performing a hardfork?
    There could be a split in the community, resulting in decreased security for each fork.

1 Like
#3162
  1. The difference stems from the update either expanding or contracting the rule sets.
  2. You could want to expand the rule set for a particular blockchain. IF you did not like the way things were being run you could propose and fork to create your own version of the blockchain that other nodes and miners would agree to switch to.
  3. You risk splitting the blockchain, splitting the community and splitting the hash power of your network.
1 Like
#3163

1. What is the difference between a softfork and a hardfork?
A soft fork is an update that reduces the parameters needed for the protocol, making new blocks backward compatible with the old ones. Hard forks expands the rule set, making older blocks incompatible with the new ones (this can cause new cryptocurrencies to be formed.)

2. What are some of the reasons why you would do a hardfork?
Add new capabilities that arenā€™t possible with the current system.

3. What are some of the risks with performing a hardfork?
It could split the community into two different cryptocurrencies, and weaken hash security for everyone.

1 Like
#3164
  1. A hardfork is an update that makes previously invalid blocks valid while a softfork makes previously valid blocks invalid.
  2. To form a new currency, correct security risks, or add new functionality.
  3. The hash power is split, resulting in weaker security.
1 Like
#3165

1.) In the case of soft work, we only need 50% of the network to be updated in order to stop/avoid the fork. While in the case of hard for, we need 100% of the network to be updated in order to stop/avoid the fork.

2.) Expanding the rule set, changing the consensus rules.

3.) By splitting the chain, we also split the community and the hash power as well.

1 Like
#3166

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

A soft fork is a network contractions by making previous valid blocks into invalid

A hard fork is a network expansion by making the previous invalid block into valid

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

1- Expand my network
2- Increase the MB/block aka capability of work.

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

It could make, split chains by splitting the hash power, so, the network could be less secure, and also, it will generate a community split

1 Like
#3167

  1. Soft fork - turn previously valid block to invalid, and hard fork oppositeā€¦

  2. To add new functionality in the blockchain.

  3. It will affect security negatively due has power split into two chains. Moreover, community as well will divide.

1 Like
#3168

  1. The difference between a hard fork and a soft fork is a hard fork will make previous invalid blocks valid. For example you if increase the size of the blocks that are able to be valid on the block chain. A soft fork is when you make previously valid blocks, invalid by decreasing the size of the blocks that are able to be validated and added to the block chain. The hard fork works outside of the current set of rules for the blocks while the soft fork works inside the current set of rules.

  2. A hard fork can be done for clear change in the rules like an update.

  3. With a hard fork The hash power will be divided in half and therefore the security will decrease.

1 Like
#3169

  1. Soft work is fork which is result of contraction of rule set and makes previously valid blocks invalid, Hard fork is a result of expansion of rule set and makes previously invalid blocks valid.

  2. New vision, innovation, maybe needs of improvement

  3. It will split a chain, it may split community, part of miners community may not like a change and stop mining this particular project

1 Like
#3170

What is the difference between a softfork and a hardfork?

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

What are some of the risks with performing a hardfork?

  1. SF updates ( valid block to invalid block ) has to be updated, while HF updates ( invalid block to valid block) are not compulsary.

Question > does this mean that there are forks in the bitcoin blockchain now because some nodes are not updating the latest HF update? How can there be two version of truth in a blockchain ?
Does nodes need to agree to HF update for it to update , like clicking a button ? How long does it take to update and why wouldnt all miners update? Because it will be to their advantage to stick to the latest update so they can maximise their chance to mine valid blocks and reap the reward. Right ?

  1. change in concensus rule

  2. spilt hash power , spilt community leads to lower security level.

1 Like
#3171

Homework - Forks
Blockchain Updates & Forks
What is the difference between a softfork and a hardfork?

In a softfork it makes the previously validated blocks invalid and in a hardfork it make a previously invalidated blocks valid.

What are some of the reasons why you would do a hardfork?
A harkfork can happen when the opinion of the bitcoin miners has been split. Introducing a new currency could be one reason.

What are some of the risks with performing a hardfork?
Splitting the community and splitting the chain

1 Like