Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3492

  1. What is the difference between a softfork and a hardfork?
    Hard fork expands the rule set and a soft fork contracts the rule set.

  2. What are some of the reasons why you would do a hardfork?
    fir protocol bugs and enhance functionality.

  3. What are some of the risks with performing a hardfork?
    reduces the hash rate and decreases security.

1 Like
#3493

  1. A soft fork makes previously valid blocks invalid and hard forks make previously invalid blocks valid.

  2. You would do a hard fork if there is a split in the community about how to validate blocks and therefore splitting into two chains makes sense so that the competing ideas can be attempted.

3.The risk with doing a hard fork is that some of nodes will not update resulting in a split chain with a split community of miners making the security at risk.

1 Like
#3494

  1. What is the difference between a softfork and a hardfork?
    The difference between the two is that a soft fork make previously valid blocks invalid where as a hard fork makes previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    Consensus rules need to be changed/ updating security risks

3.What are some of the risks with performing a hardfork?
Splitting Hash power, community, and the block chain creating a possible security risk

1 Like
#3495

Softfork makes previously valid blocks invalid and hard forsk vice versa
For improvements or enhancements or just simply another approach
Affects availability of service and performance security as two separate chains are consuming same computing power

1 Like
#3496
  1. What is the difference between a softfork and a hardfork? Soft forks makes previously valid blocks invalid and hardfork makes previously invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork? To create a new currency. Change the rules to a networks protocol (update)
  3. What are some of the risks with performing a hardfork? Hardfork creates two diffrent chains and splits the Community into disagreement . Hash power splits and reduces security.
1 Like
#3497

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previously valid blocks invalid, and is created by a contraction in the block rules. While a hardfork makes previously invalid forks valid, and is an expansion in the block rules.

  2. What are some of the reasons why you would do a hardfork?
    To allow more transactions into a block, to create a new coin. To change the consensus model.

  3. What are some of the risks with performing a hardfork?
    It can split the chain and the community, as well as split the hash power.

1 Like
#3498

1.) A softfork is something that makes valid blocks invalid. A hardfork is something that makes invalid blocks valid.
2.) The reason is you can make a clear update. You also create a new currency ( that could be good but also bad) You could make an democratic decision with the hardfork.
3.) The risks are the split of the chain. You halve the hashrate of the older blockchain, the new chains become more vulnerable. Another risk is in shatter the community.

1 Like
#3499
  1. What is the difference between a softfork and a hardfork?

A soft fork 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?

To increase the data stored on a block.

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

Split the community and splitting the chain.

1 Like
#3500

A soft fork makes previously valid blocks invalid. A hard for makes previously invalid blocks valid. A hard fork also creates a new currency and new blockchain, a soft fork continues the existing block chain and maintains its currency.

When the consensus rules need to change you would perform a hard fork.

When performing a hard fork the risk is that the security will become weaker. As not all miners will follow the update, there will be a weaker hash strength as there will be less miners.

1 Like
#3501

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    A soft fork happens when the rule set is contracted and a hard fork when the rule set is expanded.

  2. What are some of the reasons why you would do a hardfork?
    Add new functionality, expanding the possibilities

  3. What are some of the risks with performing a hardfork?
    Less secure network because off a splitting chain and therefore community

1 Like
#3502

  1. What is the difference between a softfork and a hardfork?
    A hard fork expands the rules and makes previously invalid blocks valid, which means that miners that do not update cannot process blocks using the new rules and so will either need to update or will continue mining old blocks which will result in a new blockchain. With a hard fork update you require 100% of miners to agree to avoid a hard fork.
    In a soft fork the rules are contracted making previously valid blocks invalid. This means that miners that have not updated will still be able to validate new blocks since they are still valid, but blocks following the old rule set will be ignored by the miners that have updated. As long as the new consensus rules are supported by more than 51% of the hashpower then there will be no hard fork.

  2. What are some of the reasons why you would do a hardfork?
    If you want to expand the rule set you need to do a hard fork. Increasing the block size for instance, or making any change that will lead to blocks that are invalid under the current rule set.

  3. What are some of the risks with performing a hardfork?
    You split the hashpower and risk losing a maximum of 49% of the hashpower.
    It is also the case that you are adding something new and that is inherently more risky than removing something old. You are opening yourself up to previously unknown risks when you add something new.
    Thereā€™s an economic risk too as a hard fork can potentially crash the price due to many factors such as publicity, community split and more. This would in turn decrease the hashpower as mining the currency became less profitable.

1 Like
#3503

  1. What is the difference between a softfork and a hardfork?
    Hard fork = nodes can choose to update or not
    Soft fork = minority is in some way forced to update

  2. What are some of the reasons why you would do a hardfork?
    I want to increase the blocksize

  3. What are some of the risks with performing a hardfork?
    Split hash power, split community

1 Like
#3504
  1. Hard forks make previously invalid blocks valid and can be seen as an expansion of valid blocks
    Soft forks make previously valid blocks invalid and can be seen as a contraction of valid blocks
  2. If you want to have two different chains, if you want to give miners the option of deciding whether to update or not
  3. You may end up with two chains if people donā€™t want to update. You may split the community. Because hash power is split, there could be security risks
1 Like
#3505

  1. A softfork is a contraction of the ruleset in a protocol, whereas a hardfork is an expansion of the ruleset in a protocol.

  2. Someone may want to do a hardfork if they were thinking of improving upon their old protocol by adding additional rulesets which had never been implimented before, possibly creating a new cryptocurrency or something of the sort.

  3. Some of the risks that come with performing a hard fork include, dividing your crypto community, losing some of your hash power to the alternate fork, among other thingsā€¦

1 Like
#3506

1.Softfork makes previously valid tx invalid and hard forks make previously invalid txs valid.
2. democratic.
3. it might split the community and reduce the hash rate with makes the network less secure.

1 Like
#3507
  1. A soft fork is the result of an update that restricts the consensus rules while a hard fork is the result of an update that expands the consensus rules.
  2. a reason would be to increase the block size, to include more transactions in 1 block and be more efficient and reduce fees.
  3. a risk could be that to many people refuse that update and do their own thing (as with bitcoin cash). Also a lot of hash power gets lost.
1 Like
#3508

1.soft does not split chain and hard does split the chain
2 clear expansions of rules
3. hash power is split and reduced, makes network less secure because now there is no universal agreement between all full nodes to follow same rules and rewards.

1 Like
#3509
  1. What is the difference between a softfork and a hardfork?

  • Hardfork: It is an update that makes previously invalid blocks valid (expansion of rule set). Regardless of how many nodes are updated, it will cause a chain split. It requires 100% of the nodes to be updated to avoid a fork.

  • Softfork: It is an update that makes previously valid blocks invalid (contraction of rule set). It only requires more than 50% of hash power to avoid a fork.

  1. What are some of the reasons why you would do a hardfork?
  • To expand the current protocol/consensus rules
  1. What are some of the risks with performing a hardfork?
  • Decreased security due to hashpower split
  • Splitting of the blockchain and its community
1 Like
#3510

  1. A hard fork update is an expansion of the ruleset and previous invalid blocks are valid where a soft fork is a contraction of the ruleset and valid blocks are now invalid.

  2. A hard fork would be done if consensus needed to be changed.

  3. The risk would be split hash power and a less secure network and a split chain.

1 Like
#3511

  1. A hard fork makes previously invalid blocks valid. It represents an expansion of the rule set.
    A soft fork makes previously valid blocks invalid. It represents a contraction of the rule set.

  2. Hard forks may be introduced to correct risks from security flaws or to increase functionality.
    Soft Forks may be introduced to implement new and upgraded functionalities that remain backwards compatible

  3. Hard forks risk reducing security as the chain is split into 2 chains with different rule sets. it also splits the hash power of the blockchain and risks splitting the community too.

1 Like