1 A soft fork is when you make previously valid blocks invalid and a hard fork is when you make previously invalid blocks valid
2 To Update the protocol for example increasing the block size
3 It could cause a split of miners and the reduced hashpower one ach block = reduced security on the chain
Hard fork/soft fork is like expansion subtraction of the set of rules that governs the validity of blocks.
Hard fork = Makes previously invalid blocks valid by expansion of the rule set [eg. 1mb block size now 2mb in size].
Soft fork = Previously valid blocks are now invalid so excludes more blocks now. Contraction the opposite set of rules [eg. 0.5mb blocks size now allowed as previously 1mb block size was allowed.
A soft fork can be achieved with agreement of more than 50% of the nodes. A hard fork takes can take place with less than 50% agreement of the nodes.
A hard fork may desirable if you want to change the rules/consensus or to create a new chain/currency.
Its possible many nodes will not follow your change in protocol. Could result in split of the hash power and spilt in the community. Two chains with different protocols.
The hardfork make the previous invalid blocks to valid. Softwork make the previous valid blocks 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
1 In a softfork previously valid blocks become invalid and the opposite for HF
2 Some of the reasons why you would do a hardfork are:
-it is best to split the chain because not everybody agrees on the new rules
-HF is less confusing than SF
3 Split hash power and a less secure network
1. What is the difference between a softfork and a hardfork?
A Softfork transaction means that majority rules, has no chain split and keeps the community. In comparison, a Hardfork has a clear update that is democratic, has a new currency, and can have its own chain.
2. What are some of the reasons why you would do a hardfork?
Some reasons to do a hardfork are: it doesnât apply new rules to the old block but it updates on a new chain thereby changing the consensus rules. This also validates previously invalid blocks and requires 100 % of the network to update.
3. What are some of the risks with performing a hardfork?
Risks of performing a hardfork are: it splits community and creates new currency. It will also reduce security as hash power is split across.
Hardfork is any update in blockchain that makes previously invalid blocks valid. Hardfork expands the set of all possible blocks that can be accepted by the nodes.
Softfork, on the other hand, is any update that makes previously valid blocks invalid. Softfork contracts the set of all possible blocks that can be accepted by the nodes
In a hardfork we end up only with nodes that are updated and have the same rules. We can consider to do a hardfork when we want a âclearâ update or even a new coin.
A hardfork splits the hash power of the network and can issue a problem with its security. It also splits the community itself, something that can have more unclear consequences.
What is the difference between a softfork and a hardfork?
Both are updates where a change is made to the validation rules - by either loosening the criteria, or tightening the acceptable criteria for the blocks.
A hardfork will increase the acceptable blocks by loosening the criteria (whereby blocks that wouldnât have made the cut prior to the update are considered acceptable after the update).
A softfork will decrease the acceptable blocks by tightening the rules (whereby blocks that were acceptable prior to the update will no longer make the cut).
What are some of the reasons why you would do a hardfork?
You want to expand the consensus rules and likely take a different direction.
What are some of the risks with performing a hardfork?
Not everyone may be on board with loosening the restrictions and expanding the criteria --which can lead to a divorce amongst the community as some may decide to keep the existing, more restrictive validation rules. This may initially lead to lost hash power â split between the two chains.
What is the difference between a softfork and a hardfork?
Softfork makes previously valid blocks invalid (contraction of rules). Hardfork makes previously invalid blocks valid (expansion of rules).
What are some of the reasons why you would do a hardfork?
Bigger block size
What are some of the risks with performing a hardfork?
Overall, it weakens security of the original network because hash power is split between original and new chain.
Hardfork expands the current rule set and makes previously invalid blocks valid.
Softfork contracts the current rule set and makes previously valid blocks invalid.
expansion of the current consensus rule set.
it splits the chain and the community. also splits the hash power making the network more vulnerable and less secure.
What is the difference between a softfork and a hardfork?
A soft fork is a constriction of the rule set and a hard fork is an expansion of the rule set for the consensus algorithm.
What are some of the reasons why you would do a hardfork?
To make a new cryptocurrency that works with more features to the consensus algorithm.
What are some of the risks with performing a hard fork?
When performing a hard fork, you are splitting the community and so the hash power in half which makes the network less secure.
What is the difference between a softfork and a hardfork?
A softfork makes valid prev block invalid and a hardfork prev invalid blocks valid
What are some of the reasons why you would do a hardfork?
Create a new currency by chnaging the consencus rules
What are some of the risks with performing a hardfork?
Slip the blockchain and create a new currency, therefore loosing hashpower and making the network less secure
A soft fork is an update that makes previously valid blocks invalid, or a contraction of the ruleset that defines the allowed parameters of blocks in the chain. A hard fork is an update that makes previously invalid blocks valid, or an expansion in the ruleset.
You could do a hard fork to create a new currency or for a clear update/change in consensus.
The community will be split which will reduce the hash power for both forks until more nodes start up. This means there will be less overall computing power to fend off attacks for both forks.
What is the difference between a softfork and a hardfork?
A hardfork splits the chain into two, a soft fork does not.
What are some of the reasons why you would do a hardfork?
To make previously invalid transactions valid
What are some of the risks with performing a hardfork?
Split the community, decrease in hashpower resulting in less security
1.- Soft forks makes previously valid blocks invalid and hard fork makes previously invalid blocks valid.
2.- If there is an strong disagreement with the new set of rules applied by the new update.
3.- Split of the blockchain.
Split of the community.
Split of the Hash power that will bring reduction in security for both blockchain.
Homework on Soft and Hard Forks - Answers
What is the difference between a softfork and a hardfork?
A soft fork is an update in which the consensus ruleset is contracted, leaving previously valid blocks rendered invalid, whereas a hard fork expands the ruleset, causing previously invalid blocks to be valid.
What are some of the reasons why you would do a hardfork?
A hard fork could be done to make expansive changes to the consensus ruleset, such as increasing the block size limit or reducing other constraints in order to make the chain more efficient.
What are some of the risks with performing a hardfork?
The main risks of performing a hard fork are splitting the chain and splitting the community. Both of these come from an update not being backed by 100% of the community, and result in a drop in security due to 100% of hash power not being devoted to the same chain.
There are several differences between a hard fork and a soft fork. A hard fork makes previously invalid blocks valid under the new protocol, while a soft fork makes previously valid blocks invalid under the new protocol. In other words, a hard fork introduces a new protocol that is not backward-compatible while a soft fork introduces a new protocol that actually is backward-compatible. A hard fork is opt-in, meaning that a node must actively update to the new version to become part of the ânewâ blockchain, otherwise it remains a member of the âoldâ blockchain. Unless 100% of the network updates, the hard fork induces a permanent chain split. On the contrary, a participation in the soft fork is voluntary, and the soft fork is implemented if the majority of the network updates. The soft fork might only cause a temporary chain split, with the new version involving more proof of work, thus making it the longest chain of the network eventually. Even nodes that donât update will remain members of the community and operate on the same blockchain, but they might suffer from reduced functionality.
A hard fork is implemented in case the protocol requires changes in a scope that make the new version of the protocol incompatible with the old version of the protocol (backward-incompatible). A hard fork is clear and transparent with regard to the introduced changes and the consequences caused by the update. It is important to mention that a hard fork leaves each node the choice whether to update or stay on the current version of the blockchain.
All the benefits of a decentralized network (data integrity, immutability, high availability, etc.) improve with the size of the network (network effect). A hard fork induces a permanent chain split, which results into two blockchain communities being individually smaller than the previously combined network. This reduces the respective networkâs hash power and initially reduces the benefits of a decentralized network as compared to the previous combined network. Additional hard forks can follow, splitting up the community into even smaller groups. This could lead to the situation that the original network and all its forks each become so small that potential new network members turn to larger alternative networks and existing members also start to leave the smaller networks for bigger networks.