Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3813
  1. In a hadrfork scenario, the new rules make it so that old invalid blocks become valid. In a softfork scenario, some old valid blocks become invalid.
  2. If you want more functionality, utility and inclusion/expansion, or create a new coin, you would do a hardfork.
  3. Dividing the hash power, hence the security of the forked networks and also dividing the community.
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#3814
  1. Hard forks make previously invalid blocks valid and soft forks make the previously valid blocks invalid.
  2. To update the consensus.
  3. it splits the community and hash power.
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#3815

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    In a soft fork blocks that would have been valid before become invalid, meaning that all blocks that fullfill the new rules also fullfill the old rules. For a hard fork it is the opposite: Blocks which were invalid before are valid under the new rules, so those nodes which still accept the old rules will not necessarily accept all blocks following the new rules. Therefore with a hardcore, a new blockchain is created.

  2. What are some of the reasons why you would do a hardfork?
    To differentiate clearly from the rules before, e.g. when doing a software/rule update. Or when there is the wish to create a new asset.

  3. What are some of the risks with performing a hardfork?
    Not all miners might adopt the new rules, so they won’t contribute to the network security anymore.

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#3816

1.Hard Fork expands the set of rules e.g going from a <=1mB block height to a <=2mB block height and soft forks do the opposite.
2.a) to update security risks found in older versions
b) change/add new functionality
c) reverse transactions
3.By splitting up the chain you also split up the hash power so becomes less secure.You divide the community.People could lose interest after a coin/currency splits in two.A replay attack can happen but there other measurements/protection that can be put in place to prevent this.

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#3817
  1. What is the difference between a softfork and a hardfork?

Hardfork would make previously invalid blocks valid while Softfork would make previously valid blocks invalid

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

Increasing block size

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

Split chains

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#3818

a soft fork invalidates previous transactions due to updates , hard fork validates previously invalid transactions
clear and democratic
splits the community and the hash

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#3819

  1. Soft fork leads to a contraction of the rule set. Hard Forks lead to an expansion of the ruleset.

  2. It’s a clear update, meaning if you do not update, you will be on the previous chain. It is also a more democratic method than Soft Forks.

  3. It splits the hashing power of the network temporarily, and in turn, lowers the security of the blockchain.

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#3820
  1. The main difference between them is that a hardfork is related to an expansion of the rules (blocks that previously were invalid, become valid), whole a softfork is related to a contraction of the rules (blocks that were previously valid become invalid by not meeting new criteria)
  2. For fully democratic governance - you have full control over the decision of updating or not
  3. Security risk, related to reduction in hashpower (+split community, )
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#3821
  1. What is the difference between a softfork and a hardfork?

Soft Fork makes previously valid invalid and hardfork the opposite

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

Expansion of the consensus rules, to have a more clear understanding updates to new chain throughout the network, to be more democratic.

  1. What are some of the risks with performing a hardfork? Hashpower is split which can can decrease security, Community is split and weakened, chain is Split to create new currency
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#3822
  1. What is the difference between a softfork and a hardfork?

A hardfork is an expansion of the rules whereas a softfork is a contraction of the rules.

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

To make a new currency.
Because you are not in agreement with the current protocol rules.
Because there is a vulnerability within the current protocol.
Scalability.
Speed.
Efficiency.

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

You can create a split in the community.
The network is split, causing hashrate to go down and thus security.

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#3823

  1. A hard fork occurs when a previously invalid block becomes valid. It is an expansion of the Consensus Rule set and becomes less restrictive. A soft fork occurs when a previously valid block becomes invalid. It is a contraction of the rule set and becomes more restrictive.

  2. To increase the size of the block or include some previously unincluded criteria. To create a new currency.

  3. The blockchain is split. The community is split. The hash power is split. (Assuming that 100% of the network nodes don’t update)

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#3824

1.hardfork - makes previously invalid forks valid - expansion of ruleset
softfork - makes previously valid forks invalid - contraction of ruleset

  1. expand ruleset - create new chain, add new features

  2. split community, split blockchain

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#3825

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#3826

  1. What is the difference between a soft fork and a hard fork? Hard forks are previously invalid blocks made valid, expansion of rules, while soft forks are previously valid blocks made invalid, contraction.

  2. What are some of the reasons why you would do a hard fork?
    For expansion of any rules on the blockchain.

  3. What are some of the risk with performing a hard fork?
    Split the community like Bitcoin Cash did. reduce hash power. Split the chain.

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#3827

Homework on Soft and Hard Forks - Questions

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

soft fork is where previously valid blocks are made invalid.
A hard fork is where previously invalid blocks become valid in a update

  1. What are some of the reasons why you would do a hardfork?
    To expand the block size to make more txs

  2. What are some of the risks with performing a hardfork?
    if the update wont reach 100% a split in the chainlink can occur and it can take time and it can go both ways in the Blocks created.

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#3828
  1. Soft forks shrink the ruleset for valid blocks, hard forks expand the ruleset.
  2. An update to the protocol that alters rulesets, or for example to create a new currency
  3. Splitting the community and the hash power.
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#3829
  1. The difference between the hard and the soft fork is that there both similar with different values. The soft fork shows one blockchain that remains valid that goes forward but invalid in past. The hardfork is that the old and new blockchain meaning it’s both valid but creates 2 blockchain.
  2. The hardfork would be better is that it has better quallity for smart contracts and nodes for change.
  3. The risks are the security is less and more exposed for past valid blockchain and nodes.
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#3830

  1. Soft forks are updates that makes blocks that would be previously be classed as valid blocks, now invalid, Hard forks are updates that makes blocks that would be previously be classed as invalid blocks, now valid

  2. A hard fork is a clear update, allows changes required to the chain, nodes that do not update are not forced to accept the new rules, It’s democratic.

  3. The chain can split and the communities may not agree on the new consensus rules.

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#3831

  1. A soft fork makes previously valid blocks invalid and a hard forks makes previously invalid blocks valid.

  2. It’s a very clear update that a node is forced to follow if they want to stay on the main chain.

  3. In a Hard fork you’ll split the community and have less hash power which leads to less security.

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#3832

What is the difference between a softfork and a hardfork?
The difference is that a hardfork will lead to the validation on previously invalid Blocks and softforks will lead to the invalidation of previously valid Blocks

What are some of the reasons why you would do a hardfork?
Because is a clear update, where you can decide to stay in the Chain with the previous rules set or update to the new set of rules of the chain

What are some of the risks with performing a hardfork?
It splits the community, the chain and the hash power therefore the security can also be reduced

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