Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3692

  1. A hard fork makes prev. invalid blocks valid and expand rule set. Soft forks make prev. valid blocks invalid and contract rule set.

  2. To expand the rules .

  3. Split chain and hash power.

1 Like
#3693
  1. What is the difference between a softfork and a hardfork?
    Hard Forks - makes previous invalid blocks valid.
    Soft Forks - makes previous valid blocks invalid.
  2. What are some of the reasons why you would do a hardfork?
    A change in concensus
  3. What are some of the risks with performing a hardfork?
    During a hard fork the hash power splits into two chains which lowers security
1 Like
#3694
  1. What is the difference between a softfork and a hardfork?
    ans-a SF is an update that results in previously valid blocks to be invalid(contraction of rule set) while a HF is an update that results in blocks that were previously invalid to be valid(expansion of rule set)
  2. What are some of the reasons why you would do a hardfork?
    ans-when there is a need to update the rule set in order to upgrade/expand the blockchain set of rule in a certain spec
  3. What are some of the risks with performing a hardfork?
    ans 1-split of the block chain is imminent 2-community will split 3-hash power split making the block chain less secure.
1 Like
#3695

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

In a hardfork previously invalid blocks become valid. In the softfork previously valid blocks become invalid.

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

To create another cryptocurrency, update security, add new functionality, reverse transactions

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

Split community, Hash power split, Split chain

2 Likes
#3696
  1. A Softfork makes previously valid blocks invalid (Contraction), while a Hardfork makes previously invalid blocks valid (Expansion)
  2. To create new currencies and upgrade the protocol.
    3… It reduces hash rate by splitting the chain and causes it’s community to split.
2 Likes
#3697
  1. What is the difference between a softfork and a hardfork?
    soft forks come from an update that makes previously valid blocks invalid. Hard forks come from an update that makes invalid blocks valid. While the hard fork has clear updates, and is democratic. Softforks have Majority Rules, no chain split, and keeps the community
  2. What are some of the reasons why you would do a hardfork?
    You get a new currency
  3. What are some of the risks with performing a hardfork?
    Split the chain, split the community, hash powersplit
2 Likes
#3698

  1. A hardfork is when an update validates invalid blocks on the blockchain, or expands the rules for valid blocks, and a softfork makes valid blocks invalid, or lessens the rules for valid blocks.

  2. It is more democratic, and perform a very clear upgrade.

  3. It could cause the network to be less secure. It can cause a devaluement or degredating trust in the token. While they should be staying true to the project.

2 Likes
#3699
  1. A softfork makes previously valid blocks invalid
    and usually does not involve a fork that creates a new chain. A hard fork makes previously invalid blocks valid and can create new chains and currencies.
  2. A hard fork could be done to create a new chain and currency for people to use.
  3. Risks of a hard fork include disrupting the community, and it can be hard to get 100% of the network to update.
1 Like
#3700

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previously valid blocks invalid, and requires 51% of miners to adopt the new protocol. A hardfork makes previously invalid blocks valid, and requires ALL miners to adopt the old protocol.

  2. What are some of the reasons why you would do a hardfork?
    Well-known reasons include differences in opinions regarding governance (BCH, BSV), and protection of investor funds in the case of the DAO hack. Ethereum performed a hardfork to invalidate the blocks following the attack.

  3. What are some of the risks with performing a hardfork?
    The main risks I see related to BTC are decreased hash power, and weakened network effect. Decreased hash power will weaken the encryption robustness of the network, increasing the risks for attack, and a weakened network effect will lead to a decline in BTC dominance. Both are not likely at this point, but anything is possible in crypto.

1 Like
#3701

  1. What is the difference between a soft fork and a hard fork?
    Expansion to contraction of the ruleset. Hard forks make previously invalid blocks valid, soft fork makes previously valid blocks invalid as a ruleset.

  2. What are some of the reasons why you would do a hardfork?
    To clear updates and create a democratic block.

  3. What are some of the risks with performing a hardfork?
    Split chain, and community also the hash power is split creating less security.

1 Like
#3702

  1. A hard fork makes some previously invalid blocks valid which results is a split chain with a new differentiated blockchain and associated currency. Miners are then forced to choose which blockchain and currency they wish to support. With a soft fork, some previous valid blocks invalid which keeps the chain intact and moves forward with one single currency.

  2. A hard fork is used when the rules for the network expand to include new blocks. It is a clear and decisive change in protocols where there is no questioning the end result. Hard forks are also used when there is a disagreement in the network and a separate chain is needed to satisfy all those involved. This situation avoids mob rule where the majority gets their way and everyone else has to deal with it. Both sides get what they want in their respective chains, however it comes at the cost of hash power and the stability one chain provides.

  3. As mentioned above the initial hit is in hash power as the blockchain is split in two and miners are required to choose which chain to support. Lower the hash power results in a less secure chain making it susceptible to attacks and less centralization. Generally hard forks of this type are viewed apprehensively as the two coins are now in competition, creating infighting and cause for speculation as to which one made the right choice and will survive.

1 Like
#3703
  1. What is the difference between a softfork and a hardfork?

A softfork is an update that makes previously valid block invalid and contraction of the ruleset

A hardfork is an update that makes previously invalid blocks valid, a expansionof the rule set

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

Clear transition, democratic

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

Split the chain, splits the community, hashpower split

1 Like
#3704

  • What is the difference between a softfork and a hardfork?
    -Hard Forks is when previously unconfirmed transactions become valid due to a rule change where those transactions now meet the criteria of those rule changes and branch off to make a new chain from nodes who receive those rule updates.
    -Soft Forks (considered preferable) continue adding to the blockchain when a rule update includes criteria that can still include transactions from the “old” rules (ie: reduced mB size), and so a fork begins by those nodes who pick out transactions specific to the rule update, ahead of other nodes.

  • What are some of the reasons why you would do a hardfork?
    To include increased file/transaction sizes.

  • What are some of the risks with performing a hardfork?
    The fork creates a split in the chain, and transactions in the shortest chain returns to the mempool.

1 Like
#3705

• What is the difference between a softfork and a hardfork?
A hardfork requires 100% consensus to avoid a fork.
Considers previously invalid block protocol to be now valid. New blocks would not be
recognized by nodes not upgrading to new protocol.
It is an expansive rule set.
A softfork requires majority consensus to avoid a fork
Considers previously valid blocks to be invalid. New blocks are recognized by
entire network nodes.
It has a contraction rule set.
• What are some of the reasons why you would do a hardfork?
Desire to split the community, to create a new currency and implement an expansion in block protocol necessary for a desired outcome.

• What are some of the risks with performing a hardfork?
It can split the community which would result in reduced hash power.

1 Like
#3706
  1. a SF is generally more preffered than a HF - because of only needing a consensus of nodes above 50%. SF can continue building in the current chain where HF don’t.
  2. to force an update to all nodes. its a clear update
  3. Spliting Chain, Community & Hash Power
1 Like
#3707

A hard fork is when nodes of the newest version of a blockchain no longer accept the older version of the blockchain, which creates a permanent divergence from the previous version of the blockchain. Transaction returns to the mempool if the block is a stale block not because of hard fork.

2 Likes
#3708

ThnX, I get the first part of your statement :slight_smile:
But doesn’t the tx become “stale” because the partition (fork) inadvertently created a length of chain that no longer gets added too?

#3709

  1. A hardfork is an expansion to a set of rules which turns previously invalidated blocks valid. The opposite can be said about a soft fork as it is a contraction to a set of rules which invalidates previously valid blocks.

  2. A hard fork would be needed if there was a change in consensus and a split in agreements between the community.

  3. You risk splitting up the community, and possibly reducing the hash power of a network.

1 Like
#3710

A hard fork usually results in two valid chains so no transactions are dropped, they remain on two independent blockchains (one or both) with the same history. :slight_smile:

#3711

  1. A hardfork validates all of the previous transactions, but it doesn’t mean future transactions will be validated. In fact future transactions under the new updated code will likely be invalidated.

  2. You would do a hardfork to change reduce the parameters, make them more strict for future versions

  3. That you lose community

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