Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3592

  1. HF- this is an expansion to the rules that is clear, and new blocks don’t work on previous version, splitting the blkchn., and hash power.
    SF- makes contracting and unclear changes that can still comply with prev. ver.

  2. They expand the rules , democratic, clear

  3. Splits hash power, splits community

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#3593

Homework on Soft and Hard Forks - Questions

A soft fork; an update that makes previously valid blocks, invalid.
A hard fork; an update that makes previously invalid blocks, valid.

A change in the perception and consensus.

That if not 100% of miners update, bitcoin could fork and create alternate coins such as Bitcoin Gold and Bitcoin SV.

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#3594
  1. The difference between a softfork and a hardfork is softforks cause a contraction, shrinking the amount of data transaction in a block. They make valid blocks invalid and send them to the mempool. Hardforks expand the amount of data allowed in a block, validating blocks that were once invalid.
  2. Hardforks are caused when you need 100% of the nodes to cooperate with new rules and guidelines.
  3. Some risk with hardforks are you need all nodes to agree to new protocols causing the chain to split, this reduces confidence until all agree on the new chain block.
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#3595

  1. A hard fork makes a previously invalid block valid. It is an expansion of consensus rules. A soft fork makes a previously valid block invalid. It is a contraction of consensus rules. If 50% of nodes have updated during a soft fork, then it will essentially be as if there had been no fork at all, as the blockchain containing the updated blocks will become longer and will be accepted as the network as the true chain.

  2. One reason to do a hard fork is because it provides a clear, unambiguous update. All the nodes will have to update or else they will essentially end up being a node for a totally different coin.

  3. One risk of performing a hard fork is that it splits the hash power of the network. This reduces security by making 51% attacks more possible.

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#3596
  1. Softforks make previous valid blocks invalid. Hardforks make previously invalid blocks valid.
  2. Add to the network something that can’t be done in current setup
  3. The network could split the community.
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#3597

  1. A hardfork is known as an update on the blockchain which previously makes invalid blocks valid. For example: A previous rule had a block be < = 1MB in size then the rule changed to < = 2MB in size. On the otherhand a softfork is an update that makes previously valid blocks invalid. For example, a consensus rule will change the block size < = 1MB to Block < = 0.5MB.

  2. To move to a longer chain. A clear update will enable being on a new blockchain.

  3. This will cause the chain to be split as well as the community, where some Miners will be on one chain and other will be on another. The Hash power will be split and this also reduces the security.

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#3598
  1. What is the difference between a softfork and a hardfork?
    Softfork can make changes that work inside the current rule set, hard forks not.
  2. What are some of the reasons why you would do a hardfork?
    It’s democratic and you keep the community which is important.
  3. What are some of the risks with performing a hardfork?
    The network would split, and the community might not agree with the changes.
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#3599
  1. Hard forks loosen restrictions whereas soft forks occur when the rules become more restrictive.
  2. A hard fork might be done to increase the allowed block size or to introduce other changes in the consensus rules.
  3. A hard fork is likely to cause a split in the chain, which occurs whenever less than 100% of the network updates.
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#3600
  1. A hard fork will make previous invalid blocks valid and a Soft fork will make valid blocks invalid.
  2. The reason for a hard fork is overall consensus that something needed to be changed.
  3. The risk is a split chain , possible new currency,
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#3601
  1. Soft fork is where previously valid blocks are made invalid in the expansion. Soft forks make changes that can work inside the current rule set. Hard fork is where previous invalid blocks are made valid. Hard forks make changes that don’t work in the current rule set. Ethereum is currently struggling with hard fork possibility due to gas fees and payment to minors-trying to transition from POW to POS
    2.Hard forks are done when there’s is change in vision and consensus. such as Ethereum moving from POW to POS. Implying that miners will lose their mining business.
  2. Risks for hardfork include lose of harsh power/compromised security/split from the blockchain to start a parallel one. eg. Bitcoin and Bitcoin cash. Eth and Eth classic.
    This brings community confusion and market confusion, People buy Bitcoin classic because its look like a cheaper version of BTC without understanding.Same case to Ethereum and ETC
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#3602

  1. A hard fork is an update to the consensus rules that makes previously invalid blocks valid. A soft fork by contrast makes previously valid blocks invalid.

  2. It is democratic as network participants are given the choice whether or not to update, whereas this may not be the case with a soft fork.

  3. Hash power is split as not all miners and nodes will update. It also splits the community just like what happened with bitcoin cash and etherium classic.

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#3603

  1. What is the difference between a softfork and a hardfork?
    Hardforks are updates that makes previously invalid blocks valid, expansion of rule set. Softforks are updates that makes previously valid blocks invalid, contraction of rule set.

  2. What are some of the reasons why you would do a hardfork?
    Clear democratic update, new currency.

  3. What are some of the risks with performing a hardfork?
    Hash power split what reduce security.

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#3604
  1. A softfork makes previously valid blocks invalid while a hardfork makes previously invalid blocks valid. A hardfork starts a new chain that uses the new rule set.
  2. A hardfork would be used when you want it to be clear that the consensus rules have changed. For example the Mary hardfork in Cardano means that there is new functionality that was not previously available to create native tokens (I think…).
  3. The risk of introducing a hardfork is that the community splits based on which nodes support the new rule set. This can be good or bad depending on what the intention is. The chain splits and the generally blockchain should have one immutable version to ensure security. This is how BTC and BCH were created. BCH has cheaper and faster transaction times than the original BTC blockchain by allowing larger blocks but can be less secure.
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#3605

1/ Hardfork makes previously invalid blocks valid while a softfork makes previously valid block invalid.
2/ it’s a democratic type of update and a clear update.
3/ It splits the chain ,it spits comunity so it reduces the security

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#3606

  1. What is the difference between a softfork and a hardfork?
    A soft fork is a contraction of the rules which makes previously, valid, blocks invalid while a hard fork is an expansion of the rules which makes previously, invalid, blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    A change in consensus to fit more data per block or create a new currency on an already existing blockchain.

  3. What are some of the risks with performing a hardfork?
    Split communities and hash power.

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#3607
  1. 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. 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.
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#3608
  1. What is the difference between a softfork and a hardfork?

A soft fork makes previously valid blocks invalid but a hard fork makes previously invalid blocks valid so basically hard forks make changes that cannot work within the current set of rules but a soft fork means changes that can work within the current set of rules

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

To add functionality to the network that is not possible without a hard fork

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

It could create a split within the community resulting in a lower hash rate that could compromise security in the network .

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#3609

1Hard fork makes invalid blocks valid and Soft fork makes previously valid blocks invalid.
2. A change in consensus .
3.It will split community and create new currency.
Will reduce security as hash power is split chain.

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#3610
  1. The hard fork will end up in 2 separate versions of the block chain, and the softfork will in the end up remaining to be the only chain left.
  2. One would to be expland the rules, it gives an democratic way of allowing 2 parties to continue on their own, in order to provide a clear define set of rules in the continuing blockchain.
  3. Hash power is decreased, this would be make the security weaker, Also the community is then also split up into 2 parts.
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#3611

What is the difference between a softfork and a hardfork?

The hard fork is inclusive in the way that it accepts previous invalid blocks, while the soft fork is exclusive as it doesnt accept previously valid blocks.

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

To increase the amount of valid blocks by allowing less restrictive consensus laws

What are some of the risks with performing a hardfork?

It can happen that the chain can slit, therefore splitting the community and the hash rate. All this could weaken the security of the blockchain.

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