Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3552
  1. Soft fork: previously valid block invalid | HF: previously invalid block valid
  2. When you want to change the consensus rules and expand rule set
  3. It can split the community and reduce the security of the network by splitting the Hashrate
1 Like
#3553
  1. Soft fork = previously valid blocks invalid hard forks= invalid blocks valid
  2. They are clear updates and democratic
  3. Split chain and split community
1 Like
#3554
  1. What is the difference between a softfork and a hardfork?
    Answer: Soft fork is when previous valid blocks are made invalid, Hard fork occurs when previous invalid blocks are made valid.
  2. What are some of the reasons why you would do a hardfork?
    Answer: when there is disagreement on update to be made to network and all nodes do not agree, it can lead to hard fork.
  3. What are some of the risks with performing a hardfork?
    Answer: it can split harsh power
1 Like
#3555

  1. What is the difference between a softfork and a hardfork?
    Hardfork makes previously invalid blocks valid and softfork does the opposite.

  2. What are some of the reasons why you would do a hardfork?
    If you wish to make an update where the previously invalid blocks would be made valid such as making the block size larger.

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

Risks are splitting the community and the hashing power of the chain, leaving both chains with less hashing power and support.

1 Like
#3556

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previously valid blocks invalid and results in a contraction of the rules and a hardfork results in an expansion of the rules by making previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    To add new features such as to change the amount of space in a block or to change the overall consensus needed for new blocks.

  3. What are some of the risks with performing a hardfork?
    The hash power could be reduced and the community could be split by performing a hardfork.

1 Like
#3557
  1. A hardfork will make previous invalid blocks valid and split the chain whereas a softfork makes previous valid blocks invalid and does not split the chain.
  2. Update protocol/change consensus, create a new currency/project/community
  3. Hardforks could potentially jeopordize the network security as the total hash power is divided.
1 Like
#3558

1.Hardfork is the update of consensus rules which used to be invalid become valid .Softfork is valid become invalid.
2.For example expasion of the network to add more tx to the block.
3.Split of hash power , new currency. split community

1 Like
#3559

  1. a softfork makes previously valid blocks invalid. a hardfork makes previously invalid block valid.

  2. when consensus rules change

  3. hash power split

1 Like
#3560

  1. What is the difference between a soft fork and a hard fork?
    A hard fork makes previously invalid blocks valid and a soft fork makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hard fork?
    It streamlines the rules, creates a new (hopefully better) currency

  3. What are some of the risks with performing a hardfork?
    Splits the community, making the blockchain less secure

1 Like
#3561
  1. What is the difference between a softfork and a hardfork?

Softfork makes prev valid block invalid(changes that work in current rule set), hard forks make prev invalid blocks valid( changes that donā€™t work in current rule set.

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

A change in consensus rules (making block sizes bigger BTC-> BCH)

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

A split in community and creates a new currency. Miners will have to chose which rules they accept so there will be loss(split) in hashpower

1 Like
#3562

  1. What is the difference between a softfork and a hardfork? A softfork is one in which previously valid blocks are now invalid. This can take place when consensus rules contract and become more stringent. At the same time; nodes running by older consensus rules will still accept blocks that align with the new rules. The fork comes when nodes running with the contracted updates invalidate blocks that nodes with older consensus rules will process. Hardforks are those that make previously invalid blocks valid. (The exact opposite of a softfork). In such a case; if a consensus update takes place that suddenly validates a block that was invalid before a hardfork has taken place unless 100% of the nodes on the network accept the new update. (Typically this is not the case as hardforks usually take place when there is a split in the development community).

  2. What are some of the reasons why you would do a hardfork? Reasons for a hardfork are varied indeed. For example; if a change to the block size is proposed and the community is split, a hardfork can take place (as in the case with the Bitcoin Cash split). A proposed change in functionality or a lack of backward compatibility could also be reasons for hardforking.

  3. What are some of the risks with performing a hardfork? Risks of hardforking include (but are not limited to); splitting the chain, splitting the community, splitting the hash rate. Perhaps the biggest risk among those mentioned is potentially splitting the hash rate. Hash rates determine the security of the network. So, if you lose half your miners due to a hardfork; the level of security for both blockchains become decreased.

1 Like
#3563

  1. What is the difference between a softfork and a hardfork?
    Hardforks make previously invalid blocks valid (expanding) while softforks make previously valid blocks invalid (contracting).

  2. What are some of the reasons why you would do a hardfork?
    It creates new chains (currency), more democratic (people who agree can choose to be on the new chain or continue with the old), clearer (if you update you accept the new protocol if you donā€™t then you reject it and stay with the old standard)

  3. What are some of the risks of performing a hardfork?
    Split the community, decrease the power of the chain, creates a new less proven currency.

1 Like
#3564

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

Hard fork - update that makes previously invalid blocks valid by modifying the rules such that more blocks will be accepted. Requires all nodes to update to the latest version of the protocol software.

Soft fork - update that makes previously valid blocks invalid by changing the rules to accept less blocks.

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

  • to correct security risks found in older versions of the blockchain
  • to reverse transactions, such as in the case of Ethereum to reverse a hack
  • when the community cannot agree on which blockchain to keep, a hard fork is useful to keep both blockchains. Unlike hard forks where if even 1% of users don't update, two versions of the blockchain will exist, soft forks will only have one blockchain that will remain valid as users update to the new protocol.

3. What are some of the risks with performing a hardfork?
The hash power would be spit between the two blockchain versions and could pose a potential security risk. My understanding is that with less hash power, the difficulty of the cryptographic puzzle given to miners will be lower and so it would be easier to mine new blocks for individual miners. So, if someone were to maliciously alter a transaction already on the blockchain, it would take less computing power for them to actually succeed in ā€œre-miningā€ all the subsequent blocks and rewrite the blockchain history because the mining difficulty is lower (please correct me if I am wrong).

1 Like
#3565
  1. Well first off, Handling my steak with a soft fork just doesnā€™t cut it. No but seriously though, the main difference between the two forks is what blocks remain valid and which blocks become invalid. The hard split makes previously mined blocks , ones that were said to be no good, valid by fitting into the new consensus rule. Where as a soft fork is the exact opposite of that. A soft fork makes previously mined blocks, that were a fit within the old consensus rule and accepted, become invalid due to the tightening of acceptance target area. The difference between the two where as one is used to correct issues within the blockchain by inclusion and the other corrects by exclusion.
  1. I am pretty sure we didnā€™t go into great detail about what leads to hard forks but what if there became too many TXā€™s in the mempool and not enough mining to keep the turn over within reasonable margin,ā€¦ I can see doing a hard fork to increase the size of TX volume per block. IDK, that is just a thought because it relates so closely to the major example used in these lectures. Upon doing some research of my own i find that most hard forks are implemented to correct malicious TXā€™s, hacks, or scams. mostly pretaining to smaller less matured blockchains. They are used to clean up vulnerabilities, often by creating a new asset, and achieving greater security. Then thereā€™s always the reason for providing a platform for new functionality.

3)Hard forks can lead to a split of the chain where the change in the consensus rule is unacceptable to a degree of nodes/miners. This causes a split and the loss of total hash power, pertaining to the specific blockchain, where they may lose control of the asset, lose dominance, lose financial backing, and cripple security. Sometimes all can come into play. Simply put, the hard fork makes it easy for those who have a problem or simply disagree with the update the ability to splinter off and pretty much take your hard work and make something of their own. Itā€™s not a simple 51% to keep a fork from happening. Heck, I can see where a split can drive big early support investors to jump ship and cripple the lifeline. idk,ā€¦ that was an afterthought

1 Like
#3566

  • What is the difference between a softfork and a hardfork?
    A hard fork makes previously invalid blocks valid by expanding the rules. A soft fork makes previous valid blocks invalid by changing the network rules.

  • What are some of the reasons why you would do a hardfork?
    One reason for a hard fork is because you want raise the block size of a crypto currency.

  • What are some of the risks with performing a hardfork?
    If a hard fork is not supported by 100% in the community the fork is invertible. The other part of the community will support the new blockchain and the other half who donā€™t update will still be srpprted on the old blockchain. By dividing the community the hash power will also be divided which can created security issues for the network.

1 Like
#3567

  1. Hard fork is an update that makes previously invalid forks valid.
    Soft forks is an update that makes previously valid forks invalid.

  2. To change consensus rules.

  3. Split the chain, split community and reduces hash power which reduces security.

2 Likes
#3568

The difference between a softfork and a hardfork is that a softfork is the contraction of the ruleset and a hardfork the expansion of the ruleset.

When a radical change of the network protocol has to be made. A reason could be that a big part of the community wants to follow the new rules and the other part wants to follow the old rules. This is a democratic way to do this. Or the network protocol has to be improved (bugs fixed).

One important risk is that the hash power will be splitted. The network security will decrease. A second risk is that the coin will be splitted. A third risk people could los their faith in the token.

1 Like
#3569
  1. Hard Fork is when you change the rule that make the previous invalid blocks valid while Soft Forks is making the previous valid block invalid.
  2. When you have different idea about the network rules from the other people in the community.
  3. You split the network create a new currency.
1 Like
#3570
  1. A hard fork makes a previously invalid block valid, while a soft fork makes a previously valid block invalid.
  2. Reasons for doing a hard fork are it expands the rules for a block, creates improved performance, performs a clear upgrade, fixes protocol bugs, and is more democratic than a soft fork.
  3. Risks include degrading the coin, can create 2 coins, and is open to replay attack which is transferring signed transactions from one to the other chain.
1 Like
#3571

!. A hardfork is an update that makes previously invalid blocks valid and a softfork is an update that makes previous valid blocks invalid
2. Because there is a change in the consensus rule.
3. It can split the chain, it can split the community and the hash power can split which reduces security.

1 Like