Homework on Soft and Hard Forks - Questions

[Asit]

1. What is the difference between a soft fork and a hard fork?

A soft fork is an update where we have contraction of the ruleset and previously valid blocks become invalid whereas A hard fork is an update where we have an expansion of the ruleset and previously invalid blocks become valid.

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

There are a number of reasons why developers may implement a hard fork, such as correcting important security risks found in older versions of the software, adding new functionality, or reversing transactions.

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

After performing a hard fork, we have risks like:

• Split chain
• Split community
• Hash power split

[shaunsteckler]

1. a soft fork makes valid blocks invalid. a hard fork makes invalid blocks valid.
2. you create a hard fork when you want to expand the consensus/rules.
3. you can separate the community, also a hard fork can split the chain.

[jamesincanada]

1. Soft fork: makes previous valid blocks invalid
   Hard fork: makes previous invalid blocks valid

2. if a change in consensus is needed.

3. risks of hardforking: splits the chain, splits the community, hashpower is split therefore reducing security.

[Jmac45]

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

A soft fork makes previously valid blocks invalid (contracting the rule set), a hard fork makes previously invalid blocks valid (expanding the rule set)

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

To change the consensus rules, e.g. updating how the block and tx are validated.

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

A significant number of nodes may not update resulting in a split of community and hash power and therefore reduced security.

[NickT]

1.) A soft fork is a contraction of the rule set. A hard fork is an expansion of the rule set.

2.) You would do a hard fork if you were looking to expand the rules of block validation. An example would be increasing block size from 1mB to 2mB.

3.) One of the risks is that you split the hash power because not all miner will move over to the new chain.

[Crypila]

1. What is the difference between a softfork and a hardfork?
   A hard fork makes previously invalid blocks valid, and a soft fork does the opposite.

2. What are some of the reasons why you would do a hardfork?
   To update the consensus rules.

3. What are some of the risks with performing a hardfork?
   Splits the community
   Splits hash power, lowering the security

[DHash]

1. A hard fork makes a previously invalid blocks valid, a soft fork makes a previously valid block invalid
2. You would do a hard fork to update and change the chain and add new functionality
3. Hard forks spilt the chain and community, as well as lowering the safety.

[lifeisgood]

What is the difference between a softfork and a hardfork?

By definition, hardforks are updates that make previously invalid blocks valid and a softfork is an update that makes previously valid blocks invalid.

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

To have a clear update on the network and to create a difference currency.

What are some of the risks with performing a hardfork?

Splitting up the community. Fractionizing the total hash power of the network. Forking the main chain.

[Nordkapp]

1. Softfork makes previous valid blocks invalid and hard fork makes previously invalid blocks valid.
2. To force changes of the new consensus rules to everybody.
3. Reduce the network hash rate because of the miners split which leads to reduced security.

[szaslavsky]

• What is the difference between a softfork and a hardfork?
  hardfork: some blocks that were previously invalid can become valid
  softfork: some blocks that previously valid can become invalid

• What are some of the reasons why you would do a hardfork?
  if you want to change consensus rules

• What are some of the risks with performing a hardfork?
  Hashing power declines, blockchain is split

[t3hmun]

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

• An update that only makes previously valid blocks invalid; a subset of existing rules
• All blocks created by the updated nodes are accepted by the unchanged nodes
• The updated network may reject blocks created by the non-updated nodes network.

Hard Fork:

• An update that make previously invalid blocks valid (this may in practice be a totally incompatible change, not just superset of the rules).
  A hard fork makes previously invalid blocks valid. Some or all blocks created by this update may be rejected by the non-updated nodes of the network.

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

• If you want to make changes that expand the ruleset a hardfork is the only option.
• If you cannot get majority hash rate adoption of a softfork then creating a incompatible hardfork is the way to create a split - a minority soft fork will have its blocks repeatedly turn stale, creating losses for its miners.

3. What are some of the risks with performing a hardfork?
   If you do not get a 100% adoption you will create a split in the chain, this can have an impact on the price depending on how many miners are on the other side of the split.

[Sieg_Kamgo]

1. Softfork: update that makes previous valid blocks invalid

Hardfork: update that makes previous invalid blocks valid.

2. If they is a consensus change in the community/network.
3. It may create a new crypto currency and split the communities.

[Marc]

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.

[CryptoByNight]

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

A hardfork is an update that makes previously invalid blocks valid (expansion of rule set), while a softfork makes previously valid blocks invalid (contraction of rule set).

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

If you want to change consensus rules and have them applicable to everyone in the network.

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

The community can be split (i.e. Bitcoin SV, Bitcoin Cash) and hashrate can be reduced which leads to lower security of the network.

[Ali_H]

Questions:
. Soft forks occur when there is an update so that blocks that were valid are now invalid as the maximum block size has decreased, while hard forks occur when there is an update so that blocks that were invalid are now valid as the maximum block size has increased.
. Hard forks are more clear and require unanimous consent from all nodes to perform transactions so there is less confusion.
. Hard forks result in the splitting of the chain and communities as well as hash power.

[Mil_Pasos]

1. What is the difference between a soft fork and a hard fork?
   Hard fork updates aren’t backwards compatible like soft forks, hard forks expand the rules while soft forks reduce the rules for valid blocks and hard forks split chains unlike soft forks.

2. What are some of the reasons why you would do a hard fork?
   It is a more clear update and change the rules of consensus.

3. What are some of the risks with performing a hard fork?
   You split the hash power of the chain which could affect the network security, the community splits along with the chain.

[speedster1050]

A soft fork is a contraction of the rule set and valid blocks are now invalid, hard fork update is an expansion of the rule set and previous invalid blocks are valid.

A hard fork would be done if consensus needed to be changed.

The risk would be split hash power and a less secure network and a split chain.

[wfree02]

1. A soft fork update is when previously valid blocks become invalid, less security risk because even if none of the nodes updated all the new blocks would still be valid in their old software rules. However, the cons of a soft fork are that it’s less of a democratic move, which of course are dangerous waters to enter into when dealing with humans. A hard fork is an opposite situation; previously invalid blocks become valid. All the nodes in the network will have to choose to update to keep up with the new set of rules. It’s a more democratic-friendly option since if the members of the network don’t like the change, they simply don’t have to update their node and can continue to operate within the old rules, or leave the network entirely.

2. Kinda answered that in the previous question lol

3. Security risk, hash power splits into two chains; the updated nodes strand and the nodes that decided not to update

[TiffanyG]

1. A hard fork makes previously invalid block valid and a soft fork makes previously valid blocks invalid.
2. It’s a clear update with democratic properties that changes the rules of consensus.
3. The chain is more easily split and therefore the community is split too. Much of the harsh power is split from miners moving to the stronger chain.

[Jay_Wagner]

1. A soft fork is a contraction of the rule set and a hard for is an expansion of the rule set.

2. To correct flaws or correct security risk that were found.

3.That the chain will split and create two different currencies causing your network to divide, losing miners, weakening security.