Homework on Soft and Hard Forks - Questions

[Piers_Sciolti]

1. Whether they make previous blocks valid or not valid and a hard fork will split the chain where a soft fork it won’t
2. To create a new currency or if there’s a disagreement with miners
3. Less hash power so security is reduced and the community is split

[DeyanG]

What is the difference between a softfork and a hardfork?

Softfork is when previous valid blocks become valid and hardfork is when previously invalid blocks become valid

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

More democratic and there is less confusion

What are some of the risks with performing a hardfork?

reduction of hash power, splitting fo the community

[Andres83]

1. What is the difference between a softfork and a hardfork?
   In a hardfork previos invalid blocks become valid (expansión) in a softfork previos valid blocks become invalid (contraction)
2. What are some of the reasons why you would do a hardfork?
   To change concesus mecanism
3. What are some of the risks with performing a hardfork?
   Creating a new cryptocurrency, splitz the comunity and the security

[L0rdStitch]

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

• Softforks are contractions of rule set which makes previously valid block valid. Hardforks are expansion of rule set which makes previously invalid blocks valid.

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

• Different opinions on the community causing the community to split and create different currency.

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

• Hashpower split reducing the security of the network.

[ionut]

1. Soft fork makes previously valid block invalid and hard forks makes invalid blocks valid.
2. When consensus rules change.
3. The risk is a less secure network and a split chain.

[scuderia992]

1. What is the difference between a softfork and a hardfork?
   A. A hard fork is an update that makes previously invalid blocks valid and a soft fork is an update that makes previously valid blocks invalid.

2. What are some of the reasons why you would do a hardfork?
   A. To expand the rules through consensus.

3. What are some of the risks with performing a hardfork?
   A. A split in the community, split in the chain, formation of new currency and a hash power split.

[JJarego]

1. What is the difference between a softfork and a hardfork?
A: A hardfork expands the set of rules that a block must comply with to be validated; A softfork contracts this set of rules

2. What are some of the reasons why you would do a hardfork?
A. A hardfork may be required to add features and scalability to the network. As long as not everyone in the mining community agrees with the new set of rules, a split will necessarily occurs as the minority does not need to follow the option of the major group. This is how, for instance, Bitcoin Cash came into existance

3. What are some of the risks with performing a hardfork?
A: A split in the chain also equates to a split of the hash power which can be detrimental to the safety of the network

[Samuel1]

1. A soft fork makes makes previously valid blocks invalid, because of reduction of megabytes.
2. A hard fork can create a new currency, give a clear update, and propagates democracy.
3. Some risks are that you split the chain and the community. It is also debated if creating a new currency is the best option.

[BShehaj]

Q: What is the difference between a softfork and a hardfork?

A: A soft fork is when an update makes the previously valid blocks invalid and a hard fork is when an update makes the previously invalid block valid.

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

A: Because it is clear and democratic system to follow and everybody can continue in their own chain. Having a new cryptocurrency.

Q: What are some of the risks with performing a hardfork?

A:

• Split of the chain
• Split of the community
• Hash power split

[Pogchamp]

1. What is the difference between a softfork and a hardfork? | The difference between a soft fork is a tightening of the rules, while a hardfork is an expanding of the rules (to put it simply.) In a softfork, the network will most likely not be split, while in a hard fork the chain will diverge in to two chains.

2. What are some of the reasons why you would do a hardfork? | A hard fork is more democratic, and it is very simple to understand.

3. What are some of the risks with performing a hardfork? | When performing a hard fork, some of the risks associated with it are that it splits the chain, it splits the community, and it splits the hashing power.

[jonnybjj]

@ivan

Homework on Soft and Hard Forks - Questions

1. What is the difference between a softfork and a hardfork?
2. What are some of the reasons why you would do a hardfork?
3. What are some of the risks with performing a hardfork?

1- a hard for update is an expansion of the rule set and makes once invalid blocks valid. a soft for update contracts the rule set and makes once valid blocks invalid.
2- When consensus rules are being change.
3- The hashing power of the network is decreased cause more security risk, also loss of project community, as well as splitting the chain in the first place.

[Grdylineman]

• What is the difference between a softfork and a hardfork?
  With a soft fork only one blockchain will remain valid as other nodes recieve the update, with hard forks both the new and old blockchain exist side by side until the next block is added to one which then pushes the existing block back to the mempool
• What are some of the reasons why you would do a hardfork?
  A hard fork may be needed to update security risks found in older versions or to reverse transactions
• What are some of the risks with performing a hardfork?
  the old and new versions may not be compatible creating double blocks. Hard forks can sometimes effect the price of the crypto

[PapaCoins]

1. What is the difference between a softfork and a hardfork?
   Hardfork creates two separate chains, and previous invalid blocks become valid. It is considered an expansion of the rulesets. Softfork does not create a split chain and is the opposite of hardfork. The updates in the softfork make previous valid blocks invalid.

2. What are some of the reasons why you would do a hardfork?
   If you are considering a different design in the ruleset of the blockchain and want to create a separate cryptocurrency

3. What are some of the risks with performing a hardfork?
   It splits the community, and lost of major hashpowering to keep the network secure.

[LuisG]

What is the difference between a softfork and a hardfork?
A soft fork is a software upgrade that is backwards compatible with older versions, which means that the new rules can still be interoperable with the legacy protocol. a hard fork enables a rule change to the software, but it does not have backward compatibility.

What are some of the reasons why you would do a hardfork?
Consensus update this means that There will be no burned coins, no added coins, and the total supply would not be changed.

What are some of the risks with performing a hardfork?
security is reduced because it splits the Hash power.

[Alko89]

@Grdylineman

the old and new versions may not be compatible creating double blocks. Hard forks can sometimes effect the price of the crypto

Hard forks are never compatible, meaning the chain will split in case the community disagrees with the direction of the updated chain, creating two currencies which also splits the hash power.

[eunice_salimao]

1. What is the difference between a softfork and a hardfork?
   Softfork makes a previously valid block invalid while a hardfork makes a previously invalid block valid.
2. What are some of the reasons why you would do a hardfork?
   Hardfork happens if an update of the blockchain rule set expands.
3. What are some of the risks with performing a hardfork?
   When there is a hardfork, there are risks of splitting the community and hash power. There is also a possibility of creating new currency.

[888]

1. A Hardfork allows for expansion of rules, a softfork contraction.

2. Allow more functionality

3. Chain could split in two, resulting in split communities and hashing power. Making both new chains less secure.

[DaJoker]

1. What is the difference between a softfork and a hardfork?
   Hardfork = Expansion of rule set --> a prev. invalid block becomes valid.
   Softfork = Contraction of rule set --> a prev. valid block becomes invalid.

2. What are some of the reasons why you would do a hardfork?
   Any kind of non-accidental fork comes from changing the consensus rules. It is a more democratic way, where the community/miners could decide, how they want to continue if there is a disagreement.

3. What are some of the risks with performing a hardfork?
   A hard fork will create split of the blockchain. This will result in a split of the community and split of the hash power, if not all the nodes accept the new rule set. A split in hash rate will ultimately result in a less secure network.

Question:
A hard fork only splits a blockchain, if not all the nodes accept the new rule set, right? Does that mean, that it does not necessarily need to result in a split? Has that ever happened?

[John12]

1. Hard fork is an expansion of the rules, whereas a soft fork is a contraction of the rule set. Hard forks blocks that previously would have been considered invalid blocks now valid, and soft forks make blocks that previously would have been considered valid now invalid.

2. Hard fork is considered more democratic, because nodes can follow the consensus rules that they agree with, and continue on the chain with those rules. You can create a new currency in this way

3. Creating a new currency may also be considered a negative

[hwbrill]

1. Soft Forks are considered Contractive and Hard Forks are considered Expansive
2. Clear, Democratic, new currency
3. split chain and community and reduces security