Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3472
  1. The hardfork expands the rules, softwork contract the rules of the protocoll.
  2. Bug fixes, improve performance.
  3. It can split the community and hash power, hence decrese the trust in the token.
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#3473

  1. Softforks make previously valid blocks invalid while hardforks make previously invalid blocks valid.

  2. When necessary to make the new blockchain rules clear, so all nodes on the chain are on board with the update.

  3. Losing nodes on the chain and creating two possibly competing chains.

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#3474
  1. The difference between a soft fork and a hardfork are a soft fork makes previously valid blocks invalid, but a hard fork makes previously invalid blocks valid. An example of a hard fork is increasing the size of a block and an example of a soft for is decreasing the size of a block.
  2. A hard fork can happen when you want to increase the size of a blockchain. If you want the Blockchain community to be able to choose which rules they prefer without forcing them you could choose a hard fork.
  3. One of the issues with hardforks is security. Since you need 100% hashing power to break the fork, there may be long periods of time where miners are spit between the two rules. We also may cause a fracture between the community over who adopts these new rules, and who doesn’t.
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#3475
  1. Hard fork is an update that makes previously invalid blocks valid and the fact that we have nodes that haven’t been updated will cause the chain split.
    Soft fork is the opposite, is an update that makes valid blocks invalid. The new blocks are produced within the previous rule set and we don’t have chain split.
  2. If for example the 40% of the network doesn’t accept to update the nodes and follow new rule set, this is a reason to split the chain and have a hart fork.
  3. In hard forks the fact that we have chain split means that also hash power splits and this reduces security.
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#3476
  1. A soft fork makes previously valid blocks, invalid through new consensus rules. A hard fork does the opposite by making previously invalid blocks, valid.
  2. If you didn’t agree with the rule changes or the way a network is run. Also if you wanted to create a new currency.
  3. You risk making the original network weaker security wise (less miners) if a larg portion of those miners committed to the split.
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#3477
  1. What is the difference between a softfork and a hardfork?

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

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

With a hard fork there is a clear update and a democratic consensus of the update. 100% of the nodes must agree.

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

When performing a hardfork, there is a risk of splitting the chain; and therefore certain nodes will not have the correct copy of the blockchain.

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#3478

  1. What is the difference between a softfork and a hardfork?
    An update that leads to a hard fork is one that makes previously invalid blocks valid.
    An update that leads to a soft fork is one that makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork?
    Hard forks have clear updates and are democratic

  3. What are some of the risks with performing a hardfork?
    Hard forks split the chain, split the community and hash power is split.

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#3479

  1. What is the difference between a softfork and a hardfork? - The main difference is in the fact that soft forks make previously valid block invalid, hard forks make previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork? In order to produce a new currency, move away from the community in desagreement.

  3. What are some of the risks with performing a hardfork? The security is reduces with lowering the hashrate of the blockchain

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#3480

  1. An update that makes previously valid transactions invalid

  2. new currencies, clear updates and more democracy.

  3. can split a chan and a community

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#3481
  1. What is the difference between a softfork and a hardfork?
  • a softwork is an update the invalidates previous blocks; a hard fork expands the rules so previous blocks are still valid
  1. What are some of the reasons why you would do a hardfork?
  • to expand the allowable Byte size of a block
  1. What are some of the risks with performing a hardfork?
  • part of the network that hasn’t updated could continue on a separate fork
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#3482

1. What is the difference between a softfork and a hardfork?
Softfork is when rules are changed so previously valid blocks become invalid.
Hardfork is when rules are changed so previously invalid blocks become valid.
Hardfork produces two chains, while softfork will disregard shorter chain after awhile.

2. What are some of the reasons why you would do a hardfork?
If we want some rules to be changed, for example to increase maximum size of the block.

3. What are some of the risks with performing a hardfork?
When we are performing hardfork we are creating two separate chains, by that reducing hasrate power as well.

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#3483
  1. What is the difference between a softfork and a hardfork?

A soft fork update makes previously valid blocks invalid; a hard fork update makes previously invalid blocks valid.

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

clear updates, democracy, new currency

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

splitting the chain, splitting the community, new currency (could be both a pro and a con), security risk - hash power is split.

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#3484
  1. What is the difference between a softfork and a hardfork?

A hard fork is a broadening of the rule set. In a hard fork previous invalid blocks are valid whereas in a soft fork there is a reduction of the rule set and subsequently previously valid blocks are now invalid.

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

Takes place where consensus within the network is needed.

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

As in a hardfork the chain is split it can potentially split the community. Furthermore the hash rate of the network is split between the original chain and the new fork which can have a detrimental effect on the networks security.

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#3485
  1. Soft fork update makes previously valid transactions become invalid; meanwhile, a hard fork update makes previously invalid transaction become valid.
  2. Change the consensus rules, improve functionality and scalability.
  3. Splitting the hash power and community; and reducing network security.
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#3486

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. An hardfork make previous invalid blocks valid. A soft fork makes a previous valid block invalid.

  2. An hardfork can be made to upgrade consensus rules, usually with the intention to grow the performance of the blockchain. But in the end it can lead to community split due to the fact that it requires 100% of miners validation to perform the fork on the main chain.

  3. Some risk associated with hard forks are the split of the community, and also hash power split, and the last one can be a security threat to the blockchain since it lowers the hash power.

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#3487

  1. The difference between a HF and SF is the change in the rule set. HF rule set is expansionary (includes more blocks in the rule set) whereas a SF rule set is contractionary (excludes more blocks in the rule set).

  2. You would want to HF if for example you wanted a new rule set that allowed for block size to be increased, resulting in a new currency.

  3. The risks with performing a hard fork is that you will split the chain, split the community, the hashpower is split thus leading to reduced security.

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#3488

  1. A soft fork makes previous valid blocks invalid and a hard fork makes previous invalid blocks val.
    In another words soft forks contracts their set of rules and hard forks expands them.
    A hard fork can split the chain and with the soft fork the upgrade can go through more smoothly, if the majority of miners accepts the new version everyone else will continue to mine on the larger chain.

  2. Usually a hard fork is happening because of an update witch changes the consensus rules.
    ex. change in block size, increase transactions per second etc.

  3. When a hard fork is dome the community will spit and the miners will chose their side. With this will be split the hash power and automatically the security of the network will drop.

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#3489
  1. A softfork makes valid blocks invalid, and a hard fork makes invalid blocks valid
  2. If the consensus/rules need to be changed
  3. lowers security
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#3490

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

  • hardfork, an update that makes previously invalid blocks valid
  • softfork, an update that makes previously valid blocks invalid
  • an expansion (hardfork) or contraction (softfork) of the rule-sets (set of rules, that decide if a block is valid or invalid.

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

  • There are several reasons why a hard fork is implemented, eg. correcting important security risks found in older versions of the software, to add new functionality, or to reverse transactions, such as when the Ethereum blockchain created a hard fork to reverse the hack on the Decentralized Autonomous Organization (DAO).
    ref. https://www.investopedia.com/terms/h/hard-fork.asp

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

  • less security because of hashpower split
  • split blockchain and community
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#3491

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.

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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