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A Hard Fork is a change in the protocol that makes previously invalid blocks valid. We can view it as an expansion. A soft fork makes previously valid blocks invalid, which can be viewed as a contraction in the rule set.
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Say you wanted to increase the block size from 1 MB to 2 MB, this would be a change in the consensus. You are expanding the rules for what is valid and accepted in the protocol.
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When you perform a hard fork , you are essentially “splitting up” the community. The nodes that accept the fork will continue the chain, while those who do not form a new chain. Hashpower is now reduced since the network is split, which can be a threat to security as well as faith in the community and active participants.
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1. What is the difference between a softfork and a hardfork?
A hardfork makes previously invalid blocks valid while a softfork makes previously valid blocks invalid. Meaning a hardfork is NOT backward compatible, whereas a softfork is.
2. What are some of the reasons why you would do a hardfork?
Generally speaking to expand the functionality, i.e. changing the consensus by epanding the rule set. Hardforks will create a new coin, i.e. Bitcoin Cash.
3. What are some of the risks with performing a hardfork?
Splitting the community. Reducing the hash power and
therefore lowering security.
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- soft fork makes previously valid blocks invalid and hard for makes pervious invalid blocks valid
- if you wanted to create a new curency
- split the chain and the community, hash power splits
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Soft fork makes previously valid blocks invalid while hard fork makes previously invalid blocks valid.
A hard fork can expand the rule set of the network. The changes that derive from a hardfork make future transactions incompatible with the set of rules in the network that were in place before the update. These new transactions function on a separate chain, so participants can use a hardfork to pursue their own version of truth on their own separate blockchain. In other words, you can create a new coin by hardforking. Performing a hardfork can also take away hash power away from the original chain.
There could be unforeseen vulnerabilities on the new chain with significantly less hash power than the original chain and you risk a loss of hash power from the original chain which reduces security.
2021-04-16T23:10:00Z
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What is the difference between a softfork and a hardfork? --> In a soft fork, there is a contraction in the rule set & previously valid blocks become invalid. In a hard fork, there is an expansion in the rule set and previously invalid blocks become valid.
What are some of the reasons why you would do a hardfork? --> You do not agree with the current rule set. You want to split from the main chain.
What are some of the risks with performing a hardfork? --> Loss of hash power and community becoming split.
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What is the difference between a softfork and a hardfork?
The solffork is accidental and hardfork is due to an update of the consensus rules -
What are some of the reasons why you would do a hardfork?
The need to expand the consensus rule set -
What are some of the risks with performing a hardfork?
Split of the chain, its community and the hash power. The later will reduce security.
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A soft fork makes previously valid blocks invalid by, for example, reducing the allowed block size. A hard fork makes previously invalid blocks valid.
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To expand the rules for what makes a block valid. One reason might be to add new functionality to the network.
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The risk when creating a hard fork is that the community might split and you get a new unwanted currency.
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- Hard forks expand the current rule set, while soft forks contract the current ruleset. Soft forks are generally preferred because new blocks can be accepted by old nodes.
- A hardfork would be done when the consensus needed to be changed, and a clear and democratic update is preferred
- Some of the risks in performing a hardfork are split hashpower, a split community, and a split chain.
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A hard fork makes previously invalid blocks vaild. A soft fork makes valid blocks invalid.
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A reason to do a hard fork would be that it is a clear update and its more democratic as it gives participants the choice to fork.
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The network loses security because the hash power splits.
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A hard fork is when previously invalid blocks are made valid by an expansion of the rules, and a soft fork is when previously valid blocks are made invalid by a reduction of the rules.
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You would do a hard fork if there was a change in consensus, if there is an expansion in the rules of the network.
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Doing a hard fork may split communities and create new currencies, due to splitting the hash power, and people not agreeing on the changes. This also lowers security.
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- A soft fork constricts the ruleset whereas a hardfork expands the ruleset. A hard fork makes previously invalid blocks valid whereas a soft fork makes previous valid blocks invalid.
- It’s a clear update and it democratize the decision leaving miners the the choice.
- It splits the chain and community creating a new currency and reduces the hashpower/security of the chain.
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- The change from large to small blocks and from small large or previously valid blocks to
invalidate and to make previously invalid blocks valid. - A change in consensus
- The security is reduced, the blockcain is split, the hashpower is split
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- What is the difference between a softfork and a hardfork?
A hard fork makes previously invalid blocks valid and a soft fork makes previously valid blocks invalid. In a hard fork, there is more likely to be a split in the chain because 100% of nodes would have to update in order for the chain to continue without a split. In a soft fork, a split in the chain is less likely because a blockchain would need 50% of nodes to update in order to avoid a split in the chain.
- What are some of the reasons why you would do a hardfork?
If a miner does not agree with the hard fork update, that miner would continue on the chain that doesn’t adhere to the updated rules because they did not update their node to follow the new rules. Nodes don’t feel constrained to follow the the updated rules with a hard fork because it’s an expansion of the rules, unlike a soft fork which is a contraction of the rules; it’s a democratic way to update the network.
- What are some of the risks with performing a hardfork?
A hard fork requires 100% of nodes on the network to update. If this doesn’t happen, there’s a permanent split in the blockchain, and therefore a split in the community. Miners that don’t adhere to the hard fork update and follow the new chain instead take the hash power of the old chain with them. Less hash power in the old chain means less security on the network.
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- What is the difference between a softfork and a hardfork?
In a hardfork the previous invalid blocks become valid, and in a soft fork the previous valid blocks becames invalid.
- What are some of the reasons why you would do a hardfork?
To upgrade the blockchain, and because they are more clear than soft forks.
- What are some of the risks with performing a hardfork?
The Hard Forks split the community and therefore the hash power is reduced making the blockchain less secure.
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What is the difference between a softfork and a hardfork?
*A)Hard forks require 100% of the nodes to update, otherwise, the blockchain splits. Where as, soft forks only require 50% of the nodes to update for the change to take place. And 2nd, hard forks make expand the set of rules, while soft forks will contract the rules.
What are some of the reasons why you would do a hard fork?
*If the previous rules are not working, hackable, or no longer apply then you’ll likely want 100% of the nodes to update to the new rules.
*A large part of community has strong opinions about changing the rules and no longer want to adhere to the current rules.
What are some of the risks with performing a hardfork?
- You split the community
- You lose hash rate power, hence, lowering security of the network.
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- A soft fork make previously valid blocks invalid which a hard fork makes previous invalid blocks valid.
- Add functionality
- By splitting the chain it is less secure.
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What is the difference between a softfork and a hardfork?
A softfork makes a previously valid block invalid and a hardfork makes a previously invalid block valid. -
What are some of the reasons why you would do a hardfork?
To expand the ruleset. -
What are some of the risks with performing a hardfork?
Reduced hash power and a split community.
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- Hard forks make previously invalid blocks valid, while soft forks make previously valid blocks invalid.
- To change consensus rules for validating blocks.
- Split chain, split of community, and split hash power.
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Hard fork updates expand the rule set and makes previous invalid blocks valid. soft forks is a contraction of the rules making previously valid blocks invalid
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Hard fork updates would be done if you wanted new rules to expand, make new functions or create a new currency.
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the risks that could come from performing a hard fork would be splitting the chain and the community if not all the network updates, decreasing security.
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- A hard fork update is an expansion of the rule set and previous invalid blocks are valid where a soft fork is a contraction of the rule set and valid blocks are now invalid.
- A hard fork would be done if consensus needed to be changed.
- The risk would be split hash power and a less secure network and a split chain.
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