Homework on Soft and Hard Forks - Questions

[dhill27103]

1. A soft fork makes previously valid blocks invalid, while a hard fork does the opposite.

2. You would do a hardfork to implement new rules, create a new community these different rules and a new currency.

3. A risk of performing this is that it reduces the hashpower of the network and thus reduces security

[dowat1kus]

1. Hard fork expands the number of valid blocks, while a soft fork will contract the number of valid blocks. Put another way, a hard fork makes previously invalid blocks valid while soft fork does the opposite
2. Better performance, to expand the number of valid blocks, create a new ccy and community
3. Every node must get the update or you might get a split that can’t be fixed by the longest chain rule

[ineffable]

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 change in consensus
3. splitting hash power and a less secure network, fractured community

[HemalT]

1. What is the difference between a soft fork and a hard fork?
   Soft fork makes previously valid fork in valid and hard fork does the opposite.
2. What are some of the reasons why you would do a hard fork?
   When the consensus changes.
3. What are some of the risks with performing a hard fork?
   By splitting the community and the chain, the hash power is also broken. This decreases security on the network.

[Saffron]

1. A soft fork makes previous valid blocks invalid and a hard fork make previous blocks invalid blocks valid

2. A hard fork is a clear rule and adds new functionality

3. less secure

[connorpfowler]

1. The primary difference between a hard and soft fork can be viewed as expansion and contractions of the network rule set, respectively.

A hardfork aims to expand the ruleset, making previously invalid blocks valid, while the soft fork will contract the ruleset making previously valid blocks invalid. What this results in is that a hard fork can potentially split the chain if all miners are not in agreement with the update. A softfork will not generally result in a split if the combined mining hashpower of updated miners is more than 50% of the network hash power.

2. Some reasons you might want to hardfork the network is to create a new currency, if you belive that the original protocol is not up to date with more modern standards, as what happened with bitcoin cash (the fees are more consumer friendly). Another reason you might want to hard fork is to build a new project based on the original source code of the bitcoin network but create improvements to the protocol that your community views as improvements.

3. The risks of performing a hard fork:

• Lowering the security of the network by lowering the combined hash power of all miners

• Splitting the community which could have longer terms social effects on the way society views cryptocurrency markets and the strength of bitcoin as a whole (apes together strong!)

• However, I suppose a hardfork might incentivize new miners to join the new networks. which means it will eventually recoup the hash power.

[Dustin_Gearhart]

1. A softfork is a contraction of the rules where previously valid blocks become invalid. A hardfork, on the other hand, is an expansion of the rules where previously invalid blocks become valid.

2. A hardfork is done to update the consensus rules of the block chain to include a wider set that increases the number of valid blocks which can be done for a lot of reasons like increasing block size.

3. A major risk associated with a hardfork is that the chain could fragment into two new chains if all miners do not agree and that would split the hashing power of the whole system thereby greatly decreasing the security of the blockchain.

[Andycoins]

1. soft : contraction of consensus rules requiring less than 50% of network update
   hard: expansion of rules requiring a 100% network update

2. change of consensus

3. splitting community / chain / hash power causing reduced security

[Daver]

1.Softfork makes valid blocks invalid and hardforks makes invalid blocks valid (opposite).
2.To expand some consensus rules, if you want to change consensus model.
3. You can splitt the community, which can make it less secure

[xRave110]

1. Softforks limit the rule set (make valid block invalid) meanwhile hardforks expand the rule set (makes invalid block valid).
2. I would do hardfork when it is need to expand rule set, do a clear split of chain with a new currency.
3. Risks are mainly related with security (as the hash power is also split) and community division.

[Alko89]

@Andycoins

soft : contraction of consensus rules requiring less than 50% of network update

It actually requires at least 50%.

[Gomez1333]

1. What is the difference between a softfork and a hardfork?
   Soft work invalidates some of the previously valid blocks.
   Hard work validates some of the previously invalid blocks.

2. What are some of the reasons why you would do a hardfork?
   To expand the rules/borders of the current version of the consensus.

3. What are some of the risks with performing a hardfork?
   Risk of reduced security, because while hardfork is being executed, hash power is split between 2 blockchains.

[agrana108]

1. soft fork is a contraction of the ruleset, whereas a hard fork is an expansion of the ruleset
2. change in consensus
   3 split of community

[Fahmi_Eshaq]

1. What is the difference between a softfork and a hardfork?
   Soft fork contracts the ruleset. Hard fork expands the rule set.
2. What are some of the reasons why you would do a hardfork?
   Spawn/Create new currency and new community.
3. What are some of the risks with performing a hardfork?
   Decreasing hashpower; thus, decreasing security

[soho101]

Soft Fork: Update that invalidates previously valid blocks. Hard Fork: Update that invalidates previously invalid blocks.

When consensus contract change.

The risks with performing a hardfork are because of the community being split that will result with the hash power is as well being split.

[blockchainbrain]

1. A hard fork makes a perviously invalid block valid by an expansion of the rules and is normaly not preffered and a soft fork makes a previously valid block invalid due to a tightening of the rules and is normally preffered.

2. To make a change to the network that would be “more democratic” although the majority rules in a soft fork would seem to be how democracy plays out. The difference in the hard fork is that you cast your “vote” and can go your seperate way if you do not agree with the new consensus and not have to go along with something you may not agree with as with the soft fork.

3. You can split the community, split the chain decrease security

[Melanie]

1. The difference between Hard and Soft forks is an Expansion OR Contraction of the rule set.
2. You would Hard fork when an Update is needed.
3. The risks of hard forking are splitting the Community and the Hash Power is split which compromises Security.

[Guim]

1. HF are caused by an update that makes previous invalids blocks valids.
   SF are caused by an update that makes previous valids blocks invalids.

2. Clear udpate, more democratic, new currency.

3. Hash power is splitted, then less secure. Community is splitted.

[LiB]

1. A hard fork is an expansion of the ruleset while a soft fork is a contraction of the ruleset.
2. Add functionality to a network that can’t be done inside the current ruleset.
   3.It will cause a split in the community and the chain. Consequently, the hash power is reduced, making the network less secure.

[Anthrax-the-clown]

1. The difference is Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.

2. A change in consensus rules

3. It can compromise security as the hashpower has to be divided over two chains.