Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#301

  1. What is the difference between a softfork and a hardfork?
    A Soft Fork update is when consensus rules contract and the block size might be reduced leaving larger blocks still valid but eventually dropped as the network chooses longer chain. Hard fork update is the expansion of block size that leaves all previous invalid blocks valid. Needs !00% of the network to update to avoid a fork.

  2. What are some of the reasons why you would do a hardfork?
    Expand block size, create new currency/coin, Update network for efficiency and to patch bugs found in the code and some people do it for greed.

  3. What are some of the risks with performing a hardfork?
    Split chain in disagreement, split hash power, create new currency(devaluing old currency), Vulnerability to 51% attacks can increase, and community splits.

2 Likes
#302

  1. Hardfork update makes previously invalid blocks valid.
    Softfork update makes previously valid blocks invalid.

  2. You like to split the chain. You like to create a new currency.
    To make changes they cannot make compatible with the old version.

  3. You split the hash power degreasing of network security. You split the
    chain.

1 Like
#303

What is the difference between a softfork and a hardfork?
Hard fork expand the consensus rules and makes the previous invalid block valid.
Soft fork contract the consensus rules and makes the previous valid blocks invalid.

What are some of the reasons why you would do a hardfork?
A democratic process, where everyone can choose if they want to update. This creates a new community with the same vision.

What are some of the risks with performing a hardfork?
You split the chain, which leads to a split in the network. A split in the network in turn leads to a split in the hash rate.

1 Like
#304

  1. A soft fork is an update of the consensus rules that makes previously valid blocks invalid. It is a contraction of the rules. A hard fork on the other hand makes previously invalid blocks valid. It is an expansion of the consensus rules.

  2. Creation of a new coin; clarity for the consensus rules; fix errors.

  3. A hard fork will split the community of miners and thereby considerable reduce hash power and safety of the data integrity.

1 Like
#305
  1. Hard fork has to convince all nodes to update while soft one requires a majority.
  2. There is a innovative solution to a previously known problem and invalidates the previous acceptance criteria for a block.
  3. Hard fork splits community and drops security by reducing the hash power.
#306

Answers

  1. Soft fork happens when an update makes previously valid block invalid (contraction), while hard fork makes previously invalid block valid (expansion).

  2. To create a new clear currency in a democratic way.

  3. The hash power decreases, so the network is less secure. Besides, the community around the currency split between new and old coin.

1 Like
#307

  1. A soft fork makes previously valid block invalid, and usually don’t split the chain, plus it only needs the majority to update.
    A hard fork makes previously invalid block valid, splitting the chain, creating a new currency.

  2. If you want to expand to set of rules of the consensus algorithm

  3. You will eventually split the community, and reduce the hashpower of the main chain, thus reducing the security.

1 Like
#308

  • What is the difference between a softfork and a hardfork?
    HF make prev. invalid blocks valid (changes don’t work in prev. rule set)
    SF make prev. valid blocks invalid (changes work in the prev. rule set)

  • What are some of the reasons why you would do a hardfork?
    Consensus Rules Update
    BTC Split like Bitcoin SV

  • What are some of the risks with performing a hardfork?
    Hashpower Split, less security
    Community Split

1 Like
#309

  1. A soft fork update is a contraction of the rule set that makes precious valid blocks, invalid. A hard fork update is exactly the opposite, an expansion of the rule set that makes previous invalid blocks, valid.

  2. To change the consensus protocol for the expansion of the rule set or to create a new clear currency.

  3. A major risk is the split of the hash power which reduces security. Also the chain and the community will split and that leads to the creation of a new currency.

1 Like
#310
  1. Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.
  2. To modify the consensus rule.
  3. split the chain, split the community.
1 Like
#311
  1. What is the difference between a softfork and a hardfork?
  • A Softfork is reductive in it’s rule set and makes previously valid blocks invalid / A hard fork is expansive in it’s rule set and makes previously invalid blocks valid.
  1. What are some of the reasons why you would do a hardfork?
  • To update and make (arguably) better consensus rules / new coin.
  1. What are some of the risks with performing a hardfork?
    Hardforks can cause splits in the project community and can reduce hash power causing lower security.
1 Like
#312

  1. HF is an update that makes previously invalid blocks valid
    SF is an uopdate that makes previously valid block invalid

  2. maybe to create a new coin with other features than the existing one

  3. Splitting the chain you’ll have less hash power and so less security

1 Like
#313

  1. What is the difference between a softfork and a hardfork? Hard forks make an invalid block valid , and the soft fork makes an invalid block valid.

  2. What are some of the reasons why you would do a hardfork? New currencies, and provides a clear update.

  3. What are some of the risks with performing a hardfork? Splits the network and splits the chain.

1 Like
#314
  1. Soft fork does not separate the blockchain, while in hard fork there will be two different blockchains.
  2. If you need to update the security for example
    3.You will loose hashpower if a lot of people decide to chose the other chain.
#315
  1. A soft fork is a contraction of the rules, such as the block size is set to a smaller size. The fork is backward compatible. A hard fork expands the rules and will isn´t backward compatible. The hard fork will result in a split in two chains and result in a new coin.
  2. If a part of the community want to for example inrease the blocksize from 1 to 8 mB, and the other part wants to stay the same. So diagreements in the community will result in hard fork.
  3. The hard fork will split the nodes in two groups and decrease the hash power, which will make the blockchan less secure.
1 Like
#316

Actually, BSV didn’t split from BTC, but bcash forked from BTC in August 2017 and BSV forked from bcash in nov2018. So BSV is a fork from a fork :stuck_out_tongue_winking_eye:

#317

Not always, if some bug would be detected and everyone agree to update in a hard Fork, there wouldn’t be split

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#318

  1. A hardfork makes previous invalid blocks valid, meaning it expands the consesus rules. A softwark does the opposite making previous valid blocks invalid and tightening the rules.

  2. Gernate a new chain on purpose, not a majority vote. If you want to generate a new coin you also need a hard fork.

  3. Network and community will probably split, leading to a smaller hash rate and thus less secure network.

1 Like
#319

  1. Soft Work makes a previous valid block, invalid,
    Hard Forks instead makes a previous invalid block, valid.

  2. To create a community which is democratic and clear and to create a new currency

  3. Split the community and the chain

1 Like
#320

  1. What is the difference between a softfork and a hardfork?
    A hardfork can be viewed as an expansion to the rules. Meaning it makes previously invalid blocks valid.
    A softfork can be viewed as a contraction of the rules. Meaning it makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork?
    It would be a clear and democratic process to create a new currency. Or if there is the need to expand the rules for the protocol (new functionalities)

  3. What are some of the risks with performing a hardfork?
    When you split the chain, you will split the community. Also you would reduce the hashpower (because of the split), and therefore reduce security.

1 Like