Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3572
  1. What is the difference between a softfork and a hardfork?

A softfork makes previously valid blocks invalid, or contracts the ruleset. A hardfork makes previously invalid blocks valid, which expands the ruleset.

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

A hard fork gives the community a choice between one branch or another. This can be a way of intentionally making a new coin.

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

A hardfork update requires 100% of the network to update to the new ruleset. When some nodes do not update this will spit the chain and the community.

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#3573

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previous valid block invalid, while a hardfork makes previous invalid block valid. Softfork is like contraction of rule set, while hardfork is like expansion of rule set.

  2. What are some of the reasons why you would do a hardfork?
    Hardfork is a clear update for all (or majority) of the community. It is also more democratic than softfork.

  3. What are some of the risks with performing a hardfork?
    Hardfork need 100% of the network get updated. When some nodes are not updated yet, they will not accept the new blocks that are valid under new update. Then, the chain split, so do the network.

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#3574
  1. A soft fork makes previously valid blocks invalid. A hard fork makes previously invalid blocks, valid.
  2. If you wanted to expand the ruleset.
  3. Not all miners may accept the update (a majority is required), lowering hashrate and in turn the security of the network.
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#3575
  1. A hardfork is an update that leads to previously invalid blocks valid. It a loosening or expansion of the rules. A softfork is a result of an update that leads to previously valid blocks invalid; tightening of the rules.
  2. To make a clear update that will most likely create a fork that most likely lead to a new currency/asset.
  3. Some risks would be a split in the chain, perhaps leading to a split in the community. Also possible reduction of security as hash power will split.
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#3576

  1. What is the difference between a softfork and a hardfork?
    1- Soft Fork - it´s an update that makes previous valid blocks invalid, usually doesn’t cause a split on the chain because the update fits the previous rules.Example the block size: if the rule was <= 1MB and the update it´s <=0.5MB than 0.5MB its in that range.
    2 - Hard Fork - it´s an update that makes previous invalid blocks valid, usually causes a split on the chain because the update doesn’t fit the previous rules. Example the block size: if the rule was <= 1MB and the update it´s <=2MB than 2MB its out of that range.
    I see it like trying to fit a “int” in a “char” variable.

  2. What are some of the reasons why you would do a hardfork?
    1 - change consensus rules
    2 - security reasons
    3 - scalability

  3. What are some of the risks with performing a hardfork?
    1 - dividing the community
    2 - creating a new chain(this could be good or bad, in my opinion it´s a good thing… it creates a new comunity with new devs).

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#3577

  1. Hard Forks = expansion of the concensus rule, it is a 100% update across all the nodes for the chain not to fork, otherwise a split will occur
    Soft Forks = contraction of the concensus rules, have to have majority of nodes update to not have a split, less than the majority there will be a split.

  2. Reasons to have a hard fork would be to have a new currency on the blockchain, make the rules clearer or more democratic, expand the rules to make previous invalid blocks valid.

  3. Risk with performing a hard fork are a split in the blockchain causing hash power to go down exposing the chain to attack, you could split the community.

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#3578
  1. Softfork reduces rules and still the same blockchain, Hardfork divides the blockchain and extend rules.
  2. Improving set of rules and not having the 100% agreement of the comunity of going forward this new set of rules.
  3. Splitting chain and community.
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#3579
  1. What is the difference between a softfork and a hardfork?

A hardfork makes previous invalid blocks valid and a softfork makes previous valid blocks invalid.

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

If you want to expand the rules for security reasons or increase the blocksize.

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

With a hardfork you will have 2 chains instead of 1 if not all the nodes in the network are updated. The total hashpower will be divided between those chains. So you will have less hashpower for each chain. That becomes a safety hazard because it will become easier to remine blocks and catch up with the miners. Also the community will be split if there will be 2 chains.

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#3580

1-A soft fork is heightening the rules not expanding them as with a hard fork.
2-If a radical change needs to be completed such as correcting security or adding a new functionality.
3-The risk is that there can be a time when users running the old version will not be in sync and will be operating separately from the network and won’t be able to participate in validating and verifying transactions.

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#3581

Answers:

  1. in hard fork, you make previously invalid blocks valid vs in soft fork you make previously valid blocks invalid.
  2. if you want to change consensus rules then you need to go for hardfork
  3. It splits community
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#3582

  1. A soft fork makes previous blocks that were valid - invalid and a hard fork makes previous blocks that were invalid - valid and requires 100% of the community to update where a soft fork only needs more than 50%

  2. If I wanted to expand the rule set like more MB in a transaction, bigger blocks to hold more transactions or change of block confirmation time etc.

  3. Everyone might not update so you’ll divide the community and create a new currency therefore lowering the security of the network as now the new/old networks will have lower hash power. :worried:

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#3583

  1. Hard forks makes previously invalid block valid
    While soft forks makes previously valid blocks invalid

  2. Hard forks is. Clear and democratic

  3. Risks of hard forks
    Split chain
    Split coin
    Hash power split

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#3584

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

  2. What are some of the reasons why you would do a hardfork?
    A change in vision and consensus.

  3. What are some of the risks with performing a hardfork?
    Bad for the security, the hashpower have to divide over two chains.

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#3585
  1. Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.
  2. A change in concensus.
  3. During a hard fork the hash power splits into two chains, lowering security.
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#3586

1 A softfork is easier to implement as majority rules and it does not split the chain. It can lead to less security and confusion among the nodes that have not been updated.

2 A hardfork is easier to preform a clear democratic upgrade, and the updates are not backward compatible

3 Some of the risks are, spiting the chain and community. Reducing hash power.

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#3587

Homework on Soft and Hard Forks.

  1. Hard fork is an update of a blockchain that expands the rule set of the blockchain.
    Soft fork is an update that reduces the rule set of the blockchain.
  2. When you want to create a different currency without destroying the old one.
  3. It decreases the security of the networks because when splited, the hashpower of the old one decreases.
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#3588

1.- Softforks make previously invalid transactions valid, and viceversa.

2.- You could create a new coin with some updates or new features, or just simply changing consensous rules for any reason.

3.- You slipt community (so secutiry aswell), and have created a parallel blockchain.

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#3589

A softfork update makes previous valid blocks invalid, it is basicly a contraction of the rule set. Hard forks are the opposite, it makes the previous invalid block valid and expansion of the rules.

Change of vision in the project and the consensus of the network.

Its a risk in the sense of security, the network needs to split the chainm, Meaning less hash power. And also a split in the community.

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#3590

  1. What is the difference between a softfork and a hardfork?
    Soft fork makes previously valid blocks invalid and a hard fork makes previously invalid blocks valid

  2. What are some of the reasons why you would do a hardfork?
    Do a hard fork in order to allow more transactions into a block, to create a new currency/coin.

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

It splits the chain, hash power, and community which then lowers security of the network.

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#3591

What is the difference between a softfork and a hardfork?

  • A softfork happens when the block byte size decreases or there is a ‘contraction of the rule set’ and it is when an update that makes previously valid block invalid. On the other hand, a hardfork happens when the block byte size increases or there is an ‘Expansion of the rule set’ and it is when an update makes previously invalid blocks valid.

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

  • a hardfork would happen if an update in the consensus rule needs to be changed, specifically if the ruleset needs to be expanded.

What are some of the risks with performing a hardfork?

  • since the hash power will be split security may be reduced.
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