Homework on Soft and Hard Forks - Questions

[aarigs]

Homework on Soft and Hard Forks - Questions

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

It come with the expansion or contraction of the ruleset.
Expansion make previous invalid block valid (hardfork).
Contraction makes previous valid blocks invalid (softfork).

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

One of the reasons could be that you want more transactions into block or part of community wants to create new chain.

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

Risk decreased security of the network (less hashpower) and split community.

[collectnft_og]

1. The difference between hard and soft fork is that hard forks are an expansion of consensus rules and soft forks are a contraction of consensus rules.

2. A reason for a hard fork would be to increase block size to handle more transactions per block. Or if the chain is compromised a hard fork can create a new chain and currency.

3. Risk with hard forks are community can be split. You can lose hash rate from miners thus losing security on chain.

[Helena1]

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

Softfork makes previously valid block invalid and hardfork makes previously invalid block valid.

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

a) to provide clear updated data
b) demographic update leading to new currencies

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

a) Performing a hardfork leads to split hash power which decreases security.
b) There is a split community.
c) New currencies

[Matt_Farrow]

1. A softfork makes previously valid blocks invalid, while a hardfork makes previously invalid blocks valid

2. A hardfork allows us to update the network and create changes to the network, in a democratic way whereby users can “choose” which network to stay on

3. Some of the risks include security impairments as the hash power is split after a hard fork occurs

[Player_One]

1. The difference between a soft fork and a hard fork is that a soft fork is a contraction of the consensus rule set, it’s an update that makes previously valid transactions invalid. A hard fork is an expansion of the rule set that makes previously invalid blocks valid.

2. A hard fork is not generally preferred but some of reasons it would happen are accidental, miners producing blocks at the same time. Also, hard forks can happen through new updates to the consensus, new rules causing a split through difference of opinion without having 100% of the network in agreement.

3. One of the risks of performing a hard fork is splitting or fracturing the community, through non-agreement, 100% updating is needed. Likewise, it would split the blockchain (which some may like or prefer) and also leads to hash power being split. A hard fork update doesn’t fit within the previous rules, it expands creating more rules.

[CryptoCannon]

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

A hardfork grows the ruleset of the network by making priviosly invalid blocks valid

A softfork shrinks the ruleset by making some priviously valid blocks invalid

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

To grow what the consensus deems to be valid as a block

To provide a clear mass update

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

You can split the network reduce the hash rate and make forks

[Keith2]

1. Hard forks make invalid blocks valid and soft forks make previously valid blocks invalid.

2. Due to a change in consensus.

3. Split hash rate which would decrease security. Split community

[Chi]

1. The difference between a soft fork and hard fork is that soft fork contracts the rule set by making previously valid blocks invalid while hard fork expands the rule set by making previously invalid blocks valid.

2. Some of the reasons why I would do a hard fork include clear upgrades of the network to achieve capabilities not possible under current state.

3. Some of the risks with performing a hard fork are as follows: split coin, split community, hash power split reducing network security .

[Alex_L]

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

The difference between a hard and soft for is, a soft fork makes a previous valid block invalid, Is backwards compatible and would not split the chain. A hard fork make an invalid block valid in the update, is not backwards compatible and will split the chain.

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

Address performance and protocol bugs.

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

Splits the chain and creates a new currency.

Splits the community by the split or by the new protocol added

The hash power will be split between the original and new blockchain.

[N_K]

1. What is the difference between a softfork and a hardfork? - A hard fork happens as the result of an update that makes previously invalid blocks valid. And a soft fork is the result of an update that makes previously valid blocks invalid.
2. What are some of the reasons why you would do a hardfork? - It is needed in case a blockchain needs an update of consensus rules.
3. What are some of the risks with performing a hardfork? - A hardfork splits the chain thus splitting hashing power in half which lowers security.

[kresna_sucandra]

1. Softfork is an update to the blockchain rule set that makes previously valid blocks invalid. On the contrary, a hard fork update makes previously invalid blocks valid.
2. Some reasons might be if we want to make a new blockchain from the existing blockchain with a clear, straightforward rule set proposal that you think would be the better version of the existing blockchain.
3. Splitting the blockchain directly into two separate blockchains means there would be splitting the total hashpower and in turn would reduce the security of the blockchains.

[godi]

1. A soft fork makes previously valid blocks invalid whilst a hard fork is a previously invalid block made valid.
2. Update or a change in the consensus rules
3. Spilt the block chain and the community. It will decrease security as the hash power is spilt.

[adamgolding]

1. A hard fork, ironically, makes it easier to be a block, and a soft fork makes it harder to be a block

2. you would do a hardfork if you want two currencies, or if you want more possibilities for legal blocks, or if you want explicit consent from legacy nodes–in this sense it’s ‘more democratic’–another concievable reason could be that the feature being introduced depends on total adoption for its merit

3. a hard fork can lose the network effect or the value of the original coins–splitting the hash power also reduces security–for example, it makes a sybil attack easier since 51% of a proper part of the network is a smaller target to reach

[A.Eles]

1. The soft fork update makes previously valid blocks invalid and the hard fork makes previously invalid blocks valid.

2. For a change in consensus if needed and clarity.

3. Some risks would be splitting the hash power which could lower security and a split chain.

[MohammedElissati]

1. What is the difference between a softfork and a hardfork?
   Hard fork: The result of an update that makes a previously invalid block valid. With a softfork, the updates make a previously valid block invalid.
2. What are some of the reasons why you would do a hardfork?
   There is a clear and democratic update, more so than with a soft fork. They also expand the rules for valid blocks, by making previously invalid blocks valid(expansion).
3. What are some of the risks with performing a hardfork?
   This can cause a split in 2 coins–> split community. Hash power is also split, which means less security.

[sbelka1703]

1. A HardFork is an expansion of a rule set, it makes the previously invalid blocks valid
   A SoftFork is a contraction of a rule set, it makes the previously valid blocks invalid

2. It would be adding new functionality that was not possible before

3. It can really split the community and reduce security by decreasing hash power

[flavorkicker]

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

2. Some reasons why you would want a hardfork is to expand the ruleset to the blockchain and it is a very clear and democratic update.

3. Some risks with performing a hardfork is it will most likely split the chain and community. It can also split the hash power which will reduce security of the network.

[athena.formosa]

1. the difference between a hard fork and soft fork is that hard fork require validate previous invalidate transection after an update where as soft fork invalidates precious valid transection. hard fork is an expansion of the blockchain and soft fork is a contraction of the blockchain. soft fork only created when less than 50% of the hash power

2. a change in the rules of and consensus

3. security is compromised and hash power is reduce as it will be divide over two chains

[AdamP]

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

• a hard fork makes previously invalid blocks valid by increasing the size of the block. A soft fork makes previous valid blocks invalid by decreasing the byte size.

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

• To improve the technology, scalability for example.

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

• You can split the chain and community, also the Hash power can be split which is a security concern.

[tekivagy]

1. What is the difference between a softfork and a hardfork?
   A soft fork when developers update the rules with restrictions (e.g. now blocks with size 512 kb accepted instead of 1mb) and hard fork is when rules are expanded (e.g. nodes support up to 2 mb sized blocks).
2. What are some of the reasons why you would do a hardfork?
   It is a clean update. Nodes which work with old rules can continue to work on the old chain and nodes which follow the new rules can continue their work on the new chain.
3. What are some of the risks with performing a hardfork?
   Split community, split hash power which results less secure chain for example.