Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#321

  1. A softfork is a compression of the rules, not necessarily creating a split in the blockchain, while a hardfork will expand the rules, so miners with different rules wont accept the same chain, hence creating a split if not all the network has accepted the new rules.

  2. Updating the bitcoin protocol to get faster settlements, larger blocksize or different reward could be interesting, but it would imply a hardfork.

  3. Dividing the asset, the community, one party loosing credibility, etc…

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#322
  1. a soft fork is a contraction to the rules and a hard fork is an expansion to the rules.
  2. the fork is clear and democratic.
  3. it splits the chain which also splits the community. also 100% of the hashpower is needed.
#323

  1. What is the difference between a softfork and a hardfork?
    A soft fork is a change of the protocol that reduce the rules and where previous valid blocks become invalid. Soft forks requires only a majority of the miners upgrading to enforce the new rules.
    A hark fork is a change of the protocol that expand the rules and where previous invalid blocks become valid. In opposition to the soft forks, hard forks require all nodes to upgrade and agree with the new version.

  2. What are some of the reasons why you would do a hardfork?
    When a change in the protocol is needed such as correct important security risks or add a new functionality.

  3. What are some of the risks with performing a hardfork?
    The blockchain will be split as well as the community that will by consequences reduce the security.

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#324

Homework on Soft and Hard Forks - Questions

1. What is the difference between a softfork and a hardfork?
The biggest difference between SF and HF is about to rule set, SF is a kind of contraction that means the blocks which were valid before will be invalid after changing the consenso rules. So the number of blocks will be decreased. And the HF is the opposite.

2. What are some of the reasons why you would do a hard fork?
If a lot of nodes were not agreed with the current consensus rule, and want to change to another rule, they would choose HF.

3. What are some of the risks with performing a hardfork?
It will occur new forks, so the community and chain will be split.

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#325
  1. Hardfork is a change to the protocol and a chain split. It makes previous invalid blocks now valid.
    A softfork makes valid blocks invalid.
  2. Increase block size, change the protocol, change in consensus
  3. It will divide the community of the network and will reduce the hashpower/security of the network
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#326
  1. The difference between a softfork and a hardfork is a softfork contracts the block validation rule set making some previously valid blocks invalid where a hardfork expands the rule set which makes some of the previous invalid blocks valid . Soft forks typically do not split the chain where hard forks do typically split the chain. When a chain splits it splits the community, it also reduces hash power and therefore diminishes security.
  2. Some reasons why you would do a hardfork would be to make the chain better either in terms of speed of security. A hard fork would give the nodes more choice.
  3. Some risks with performing a hardfork are it could diminish the security of the chain by reducing the hash power. It splits the community.
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#327

Just some constructive critisizm. In the section soft fork…when drawing the example the chain that remained the same changed color. the block that changed stayed the same color. Probably just my ocd. but it was confusing and I found myself fighting with that mentally while I was tryng to learn…love this course. just want to help. I think that if the chain that stayed the same stayed the same color and the chain that changed changed color it would be easier to understand.

#328
  1. HF makes previous invalid blocks valid (Expansion of rule set)
    SF makes previous valid blocks invalid (Contraction of rule set)
  2. Because of an update
  3. Risk will be security because hash power will split; also chain and community will split
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#329

  1. hard fork makes previously valid blocks invalid. a soft fork makes previously invalid blocks valid

  2. as a form of democratic vote

  3. splitting the community

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#330

1.A soft fork makes previously valid blocks invalid and a hard fork makes previous invalid blocks valid.
2,change of the protocol or bigger block size, community split, etc.
3.community divides and block chain will split, new consensus.

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#331
  • What is the difference between a softfork and a hardfork?

The difference between a softfork and a hardfork is the difference in blocksize, hardforks expand the blockchain and miners must decide to stay with the new chain or keep the old. Softforks constrict the parameters of the chain and the majority decides which blocks will be mined next.

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

A blockchain may do a hardfork if they wanted to change the rules on their current chain.

  • What are some of the risks with performing a hardfork?

The risks of a hardfork include splitting the chain and with it the community, which would decrease the hash rate making your chain weaker.

#332

If you have OCD and you’re a perfectionist, you always will find something to improve :grin:

#333

It’s not all about blocksize, it’s just an example. You could also lower the blockreward or something. There are many consensus rules.

#334
  • What is the difference between a softfork and a hardfork?

  1. SF: tightens the ruleset
    HF: expands the ruleset

  2. Consequence of SF: if at least 50 % of hanspower agrees to follow the new rules there is no fork. If less of 50 percent of hash power agrees to follow the new rules than there is a fork.

Consequence of HF: Unanimity of the community agrees on the new rule, so there is no fork. But otherwise there will be a fork. (And Two different chains will coexist).

  • What are some of the reasons why you would do a hardfork?
  • In my opinion that would be because the changes that you want to make are inherent to the core basic rules of your initial blockchain. It’s almost like changing philosophy.

Thats also why unanimity will be needed to change the rules of the initial chain.

  • because you want to expand the rules for valid blocks

  • because you want a democratic solution for the miners to choose on which chain they will mine, and what rules they want to follow.

  • What are some of the risks with performing a hardfork?

It splits the community and that also means that some miners will choose to mine blocks following the new rules of the new chain. That also means that less hash power leads to less security.

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#335

  1. A hardfork is an update that expands the rules in the blockchain protocol whereas a softfork is an update that contracts the rules. The hardfork will make previously invalid blocks valid when the softfork will make previously valid blocks invalid.

  2. To improve protocol sustainability as a first reason. To lead to a more meaningful consensus.

  3. It splits the chains, the community and therefore the hash power.

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#336
  1. A softfork makes previously valid blocks invalid, a hardfork makes previously invalid blocks valid.
  2. If you want to expand the consensus rules.
  3. The hashpower is split, which makes the network less secure.
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#337

Yeah after the Segwit lessons it is all starting to come together.
So old nodes will still accept the new Segwit blocks, correct? We constricted the rules but they still fall into the old node’s parameters, am I understanding this right?
Also, where does the signature data get stored now? Or is it just condensed by that shorter syntax?

Thank you for your help Fabice!

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#338
  1. What is the difference between a softfork and a hardfork?

Fork is a change in consensus rules. Hard Fork makes previously invalid rules valid. Soft fork is opposite to that. It makes previously valid blocks invalid.

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

If there would be a vast majority for a change in consensus rules it would be an democratic act to see which rules to have in the future.

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

Community would split in two poles and starting to comped with each other. The Hash power would also be split and with that also the security of both blockchains.

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#340
  1. The difference between a soft fork and a hard fork is a hard fork makes previously valid blocks are made in valid. Hard fords make previously invalid blocks valid.
  2. Some reasons why you would do a hard fork are to improve the system/performance,
    it is more democratic than a soft fork.
  3. Some of the risks in performing a hardfork are it splits the community, creates a new coin and could diminish trust in the chain/token
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#341

  1. a hard fork reduces the rules and makes previously invalid blocks valid from that point forwards
    a soft fork does the opposite and increases the rules making previously valid blocks invalid.

  2. it is clear, democratic ( sort of )

  3. a hard fork often splits the blockchain and community creating a new currency. a percentage of the miners will also switch currency and start mining the newly created one.
    and less miners = less security