Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3893
  1. What is the difference between a softfork and a hardfork?
    • Soft forks make previousl valid blocks invalid.
    • Hard forks make previously invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    • The update is more clear and democratic.
  3. What are some of the risks with performing a hardfork?
    • The chain gets split.
    • The comminty gets potentially split.
    • The has power gets split.
1 Like
#3894
  1. What is the difference between a softfork and a hardfork?
    A soft fork makes previous blocks invalid and a Hard fork makes invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    A Consensus update and new currencies.
  3. What are some of the risks with performing a hardfork?
    Reduces the security of the network. Splits the community.
1 Like
#3895

  1. Hard Forks Expand on the ruleset, Soft Forks subtract from the Ruleset.

  2. It is a clear and democratic Update. Which means that if you do not want to update you can choose not to. There is no confusion in the overall matter.

  3. It splits the chain, and it could split the community. There could be a significant portion of people which do not want to update. Which would reduce the general Hash power of the Chain Which can be a security risk.

1 Like
#3896

  1. A soft fork restricts the existing rules, making blocks that are valid, invalid after the update.
    A hard fork expands on the rules, making blocks that were once invalid, valid.

  2. Some reasons to do a hard fork would be to expand on the rules of consensus by adding new parameters and functionality. You could also do it to force a fork in the chain and split a currency.

  3. Performing a hard fork would split the hash power of the network, making it more vulnerable.

1 Like
#3897

  1. What is the difference between a softfork and a hardfork?
    A soft fork update changes the rule set such that previously valid blocks become invalid. A hard fork update changes the rule set such that previously invalid blocks become valid.

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

  3. What are some of the risks with performing a hardfork?
    Community is split, therefore hash power is split and network security is reduced.

2 Likes
#3898
  1. What is the difference between a softfork and a hardfork?
    While hardforks make previous invalid blocks valid, softforks make previous valid blocks invalid.
  2. What are some of the reasons why you would do a hardfork?
    To enforced a new consensus rule through the network, create a new coin, increase block sizes, etc.
  3. What are some of the risks with performing a hardfork?
    Decrease of hash power as the chain/community splits, volatility in prices, etc.
1 Like
#3899

1)Difference between hard fork and soft fork is that in hardfork previously invalid rules become valid for example changing the block size from 1MB TO 2MB whereas soft fork is when a previously valid rule becomes invalid for example changing the Block size from 1MB TO 0.5 MB.
2) A change in vision and consensus.
3) hashpower splits splitting communities

1 Like
#3900
  1. A hard fork is a expansion of rules for the consensus and it needs 100% of acceptance from the mines or otherwise the chain splits. A soft fork is a contraction of the rules for the consensus and it needs al leat 50% of the hash power to prevent the chain from split.
  2. To improve the blockchain. Updates are necessary for a better performance and security reasons.
  3. losing miners and users.
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#3901

A soft fork makes previously valid blocks valid and a hard fork makes previously invalid locks valid.
2.
A hard fork for example could increase the allowed block size to be able to fit more transactions in the block thus reducing fees.
3.
Risk of performing a hard Ford includes, 1. not all of the nodes updating thus causing a split in the blockchain and a reduction of nodes thus reducing hash thus reducing the security and decentralization of the block chain itself.

1 Like
#3902
  1. What is the difference between a softfork and a hardfork?
    The difference between a softfork and a hardfork is that a soft fork makes previously valid blocks invalid and hard forks makes invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    A change in consensus is a reason to do a hardfork.
  3. What are some of the risks with performing a hardfork?
    It will split the community and create a new currency.
1 Like
#3903
  1. The hard fork makes previously invalid blocks valid. The sf makes previous valid blocks invalid.
  2. Updates to the network
  3. The network being split.
1 Like
#3904

  1. A soft fork is a contraction of the rules and a hard fork is an expansion of the rules.

  2. People/miners who want to stay on the old chain with the old rules can choose to do so as it creates a new currency if you have split the chain.

  3. You split the chain and in turn you split the community. It can be democratic and polarising thing to do.

2 Likes
#3905

  1. What is the difference between a softfork and a hardfork?
    Soft forks are an update to the network which invalidates previously valid blocks. Hard forks are the opposite and can result in big changes to the blockchain.

  2. What are some of the reasons why you would do a hardfork?
    You may perform a hard fork in order to include more data in each block in order to make PoW more rewarding for miners in the network - more data :arrow_right: more tx :arrow_right: more tx fees :arrow_right: more monetary reward.

  3. What are some of the risks with performing a hardfork?
    A hard fork could bifurcate the blockchain creating a new currency and then the hash power is reduced creating a security problem since miners from the old chain proceed with the new chain.

2 Likes
#3906
  1. SF - makes prev valid blocks invalid, HF - makes prev invalid blocks valid
  2. Clear and Democratic
  3. Split Chain, Split the community, Hash Power Split
1 Like
#3907

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    *soft forks makes previously valid blocks invalid and hard forks are the opposite.

  2. What are some of the reasons why you would do a hardfork?
    *You would do a hard fork if you want to implement something that needs to be propagated and accepted by the entire network.

  3. What are some of the risks with performing a hardfork?
    *The chain will split if 100% consensus is not reached.

1 Like
#3908
  1. Soft fork makes previously valid blocks invalid. Hard fork makes invalid blocks valid.
  2. Hark fork is a democratic choice, change in consensus rules.
  3. It is bad for the community as well as the security as the hashpower is divided over two different chains.
1 Like
#3909

  1. A softfork shrinks the rules of validation. Previous valid blocks are now invalid.
    A hardfork expands the rules of validation. Previous invalid blocks are now valid.

  2. You would do a hardfork if consensus rules change.

  3. The hash power of the network could decrease, communities could split and it could weaken the currency.

1 Like
#3910
  1. What is the difference between a softfork and a hardfork?
    • Hard fork
      • Clear upgrade
      • More democratic
      • Expansive
      • Previously invalid blocks valid
      • Chain split
    • Soft fork
      • Contractive
      • Previously valid blocks invalid
      • No chain split
      • Backwards compatible
  2. What are some of the reasons why you would do a hardfork?
    • Increase the block size to include more TX
    • Expand the capabilities of network
  3. What are some of the risks with performing a hardfork?
    • Loss of hash rate and therefore security
    • Community is split
    • Split into 2 coins
1 Like
#3911
  1. Hardfork is an expansion update, Softfork is a contraction update.
  2. Hardfork update for expansion of the rules. To implement changes to an existing blockchain and improve it how you see fit.
  3. It can split the community and will create a new chain off of original chain
1 Like
#3912

  1. What is the difference between a softfork and a hardfork?
    Ans :
    Soft fork make valid previous block as invalid block.
    Hard fork make invalid previous block as valid block

  2. What are some of the reasons why you would do a hardfork?
    Ans :
    It’s democratic. Even though it has 2mb size, it know 1mb is closure enough. Also it accept longer chain

  3. What are some of the risks with performing a hardfork?
    Ans : It split the hash power. it make more complicate

1 Like