Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3732

  1. What is the difference between a softfork and a hardfork?
    softfork makes invalid blocks valid and hard fork makes 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?
    the chains will split into two, lowering the security

1 Like
#3733

  1. A softfork makes previously valid blocks invalid and a hardfork makes previously invalid blocks valid.

  2. When a change of consensus is needed.

  3. Splitting the Chain, splitting the community, lowering security due to reduced ( splitted ) hashpower.

1 Like
#3734

Goodness, if this is a common result…then blockchain seems more like blocktree ;} I am definitely looking forward to learning (and retaining) more!

#3735

1.A soft fork creates stricter rules, that makes valid block invalid. Can remove the need to split the chain if over 50% of the nodes are updated, if under 50% the chain will still need to be split. The majority sets the rules.
1.A Hard fork creates less strict rules, that makes invalid blocks valid. This will cause the chain to split as the old node rules for some nodes that are not updated will only accept the more strict rules. Hard forks provides miners more choices on which rules to mine. A new currency is created. Creates less security until or if more miners join the community to make up for the split in the chain.
2. To create different rules or parameters for the acceptance of blocks and how the chain is organized. Give miners and block chain users with different opinions more choices. I wonder if this also creates more profits for miners that would therefore have less mining competition and difficulty as the chain splits along with the miners?
3. There is less security as the miners split to mine the preferred chains, at least until more miners come into the blockchain community to mine to compensate for the split.

1 Like
#3736

1 hardfork: Is an update that makes previously invalid blocks to be valid.
Softfork: is an update that makes previously valid blocks to be invalid.

2 we do a hardfork in order to accommodate new
rules and to create a new asset or crypto currency which is an upgrade from the previous one.
3 hardfork splits the community which decreases the hash rate which also results into reduced network security.

1 Like
#3737
  1. A soft fork makes previously valid blocks invalid, while a hard fork makes previously invalid blocks valid.
  2. To increase the functionality of the blockchain and expand it.
  3. The community may split.
1 Like
#3738
  1. The difference between a softfork and a hardfork is that a hardfork is an update that makes previous invalid blocks valid and a softfork is an update that makes previous valid blocks invalid.
  2. The reasons behind a hardfork are to have a clear, democratic update along with creating a new currency.
  3. The risks with performing a hardfork are splitting the chain and community along with creating a new currency.
1 Like
#3739

  1. A soft fork is a contraction of the consensus rules, while hard fork is an expansion of the consensus rules

  2. A hard fork is more democratic as the users can choose which chain they want to join, It is also a clear divide that get rids of technical debt

  3. A hardfork splits the community and the chain, and more importantly it can be a security risk since the hash power will be divided between the two new blockchains, thus making them more vulnerable to attacks

2 Likes
#3740

  1. What is the difference between a softfork and a hardfork?
    Soft fork update is a constriction of the rule set making previously valid blocks invalid

  2. What are some of the reasons why you would do a hardfork?
    To expand the rule set
    For choice on a clear path forward on chosen fork
    Expanded rule set might introduce improvements in speed of transaction approval since it accommodates previously invalid blocks

  3. What are some of the risks with performing a hardfork
    Splits community
    Splits hashpower and thus reduces security

2 Likes
#3741

  1. Hard fork updates are not backward compatible and they split the chain.
    Soft fork updates are backward compatible and they do not split the chain.

  2. Hard fork do perform better the improvements, clear upgrade, more democratic system and fix protocol bugs.

  3. Risks in hard fork performance are splits in two coins, decreasing trust in token.

1 Like
#3742
  1. Hardfork splits the chain and community.
  2. To create new currency.
  3. When the hash is splits in 2 chains security and trust is decreased.
1 Like
#3743

1,a hard fork is an expansion of the ruleset and soft fork is a contraction of the rule set
2,to expand on or add to the rules of the block creation
3,hash power is split, causing less security

1 Like
#3744
  1. What is the difference between a softfork and a hardfork?
    A softfork could make some previous valid blocks invalid, and the hardfork could make previous invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    To change the rules in order to have an improvement of the network or a new currency
    3 What are some of the risks with performing a hardfork?
    It can split the community and could reduce the security because the hash power is splitting
1 Like
#3745

  1. A softfork contracts the rule set thus invalidating transactions that were previously valid. Where as the opposite applies to a hardfork.

  2. A hardfork will guarantee a fork in the block chain thus allowing miners the option to upgrade or not. This can create two currencies such as BTC and BCH for example that have the same history, but at one point fork off with their own rulesets and communities.

  3. By making a clear split within the network this will reduce the hash power and in turn the security of the network due to dividing the miners.

2 Likes
#3746
  1. A hard fork makes previously invalid transactions valid, expanding the rule set for consensus. Soft forks make previously valid transactions invalid, contracting the rule set.
  2. Hard forks are clear and democratic updates to the network that may create a new currency and vision for the blockchain.
  3. A hard fork may result in a split between the chain, community, currency and hash power, leaving new currencies like Bitcoin cash, SV, Gold and Diamond to compete for market share and hash rate.
1 Like
#3747

1- Softfork makes the conensus rules more restrictive while a hard fork makes then less restrictive

2 - to create a new coin that has different capabilities. For example a hard for with greater block size can hold more transactions.

3 - hard fork splits up the blockchain and reduces the hash rate and security of the chain.

1 Like
#3748

  1. A softfork makes previously valid blocks invalid and a hardfork makes previously invalid blocks valid

  2. You would do a hard fork to expand the rules of the network. Any transaction moving forward will be a different separate chain, so a hardfork is essentially theyir own version of the truth. Essentially creating a new coin

  3. You risk the loss of hash power.

1 Like
#3749
  1. A soft fork is an update to the blockchain which makes previously valid blocks invalid, whereas, a hard fork is an update which makes previously invalid blocks valid.
  2. One may want a hard fork to form a clear update for the community or to filter out nodes that disagree with the new protocol.
  3. Some risks of a hard fork are that it can divide the community and that the update may lose considerable hash rate if it is not accepted by the majority of the network.
1 Like
#3750

  1. What is the difference between a softfork and a hardfork?
    A soft fork makes previously valid blocks invalid and doesn’t always result in an actual fork. A hard fork makes previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    To expand the rule set. To create a new currency.

  3. What are some of the risks with performing a hardfork?
    The chain is split, which means the hash power is also split, which could lead to a loss of security.

1 Like
#3751
  1. What is the difference between a softfork and a hardfork?

A hard fork happens when there is a change in the consensus rules and makes previous invalid blocks valid.
a soft fork happens when there is a change in the consensus rules and makes previous valid blocks invalid

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

Fix some bugs or issue in the system or you want to improve the system.
A change of consensus rules

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

creation of new currency, split of the community and
a reduction of security due to less hash power in the network.

2 Likes