Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3913

Softforks cause previously valid blocks to become invalid but keep one version of the blockchain, while hardforks make previously invalid blocks, valid and cause the blockchain to fork into to different versions.

Hardforks may be done to fix a security risk or bug in older versions, or to add functionality that can not be achieved with a soft fork.

Hardforks create the risk of dividing the community if not everyone agrees on the changes, this can cause a split in mining hash power leading to both versions being less secure.

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#3914

  1. What is the difference between a softfork and a hardfork?
    A softfork makes previous invalid blocks invalid by reducing the rules for valid blocks while hardforks make invalid blocks valid by expanding the rules for valid blocks.

  2. What are some of the reasons why you would do a hardfork?
    Hardforks are made when there needs to be a change in consensus rules and a divided vision is formed within a community. A hardfork can be made to have participants pursue their own separate vision and blockchain.

  3. What are some of the risks with performing a hardfork?
    As a consequence of a fork within the blockchain, there is a lessening of hash power and security due to the split. It would not only leave both chains more vulnerable, but also less efficient as a result of a split chain.

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#3915
  1. What is the difference between a softfork and a hardfork?
    A softfork is an update that makes previously valid blocks invalid while a hardfork is an update that makes previously invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    The main reason that you would do a hardfork is to avoid confusion amongst nodes on the blockchain and to confirm that there is only one consensus for the blockchain. If nodes want to follow the old consensus they can split.
  3. What are some of the risks with performing a hardfork?
    The main risks are that the chain, community and hash power split resulting in a less secure network.
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#3916

1.) A softfork update makes previously valid blocks invalid. A hardfork update makes previously invalid blocks valid.
2.) Efficiency concerns (e.g. blocksize), privacy concerns, security concerns.
3.) The hashpower decreases, therefore security gets worse. Another risk is for the user, since the Bitcoin spent on the new chain of the fork could give hackers the necessary information to move the bitcoin on the old chain of the fork. This was a concern in 2017 at the Bitcoin Gold fork, but I forgot how this worked, exactly. You could protect your BTC by moving them first from the wallet after the fork. Only then should you move those new BTG.

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#3917

  1. The difference between a hard fork and a soft fork is that a hard fork is going to make previous invalid blocks or rule sets valid and the opposite with a soft fork where previous valid blocks or rule sets will become invalid.

  2. Some of the reasons why a hard fork would happen is because it’s clear and democratic to a degree, and can add functionality to the network that previously wasn’t able. Usually hard forks happen when community consensus asks for it.

  3. Some risks with performing a hard fork is that you’re splitting the hash power and community.

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#3918

  1. A soft fork contracts the rule set and a hard fork expands the rule set.

  2. Some reasons you would do a hard fork are if some members of the community are unhappy with the ruleset, they can expand into a new community with a new currency. It is also a more democratic process by requiring 100% of the network to update.

  3. Risks with the hard fork would include a divided community and uncertainty in that particular token’s future.

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#3919

  1. A soft fork is a backwards compatible protocol protocol change that makes previous valid blocks invalid. A hard fork is a backwards incompatible protocol change that makes previous invalid blocks valid.

  2. To make changes in consensus.

  3. The risk can be that the network will split if more than 50% of the miners won’t agree on the changes.

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#3920

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

    In a hard fork the community splits in two because the blockchain splits in two and a new currency is created. In a soft fork the community remains together and everything proceeds fine as long as a majority of the miners / nodes are running the updated client.

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

    If part of the community wants to pursue their own version of the truth on their own network with their own consensus rules they can do a hard fork and the rest of the network can continue on as if nothing has happened.

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

    Your hash power is split which reduces network security and also your community is split which reduces the skill, knowledge and passion that each community if left with.

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#3921

  1. Softfork makes the ruleset smaller and Hardfork makes the ruleset bigger.

  2. Change in vision and the consensus rules.

  3. Less secure, split chain(create new currency) and split community.

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#3922

  1. What is the difference between a softfork and a hardfork?
    Hardfor: makes previous invalid blocks valid
    Softfor: makes previous valid blocks invalid

  2. What are some of the reasons why you would do a hardfork?
    You want to have a clear update for the network which is assumed to make the network more efficient and improve its overall performance.

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

    Since it would be difficult to get 100% consensus and agreement on all the operating nodes to update there is a risk of splitting the chain into two. This would mean splitting the community as well as splitting the hash power which reduces the security of both chains from its original level before the fork.

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#3923
  1. Soft fork changes the rules set to smaller values whole hard fork changes the rule set to bigger values.
  2. Changes in consensus.
  3. Division in the network -
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#3924

Homework on Soft and Hard Forks - Answers

  1. A soft fork is an update that turns a valid block into an invalid block. A hard fork is an update that turns an invalid block into a valid block.

  2. Hard forks are democratic and clear.

  3. Splitting the hash power causes less security in the blockchain.

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#3925

  1. Hard fork expand the ruleset of the blockchain and soft fork decrease the ruleset.

  2. It is democratic. It means you can choose being on the new blockchain or not. It is also clearer than soft fork.

  3. It will split the hash power in 2 different blockchains so the security of the chain will decrease.

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#3926

  1. expanding consensus rules vs contracting consensus rules.

  2. Democratized and clear way of reaching consensus.

  3. Community split, drop in hash power and chain split.

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#3927

Homework - Soft and Hard Forks

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

Hard forks make previously invalid blocks valid and can be viewed as an expansion of the rule set while soft forks do the opposite, making valid blocks invalid and can be viewed as contracting the rule set

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

A hard fork would be done if there was a change in consensus

  1. What are some fo the risks w preforming a hard fork?

You will split the chain, as well as the community and there will be a hash power split

Cheers :woman_cartwheeling:

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#3928
  1. A Soft fork makes previously valid blocks invalid and do not need everyone to update. A Hard fork makes previously invalid blocks valid and need everyone to update the software
  2. Hardfork may be required to improve the scalability of the chain by increasing the block size or implementing new types of Scripts or formats which are not supported on previous chain.
  3. As hard fork requires everyone to update, it may create a chain split if everyone doesn’t update and may reduce the number of nodes as people will lose trust over the security of the blockchain.
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#3929
  1. A hard fork update is an expansion of the rule set and previous invalid blocks become
    re valid where a soft fork is a contraction of the rule set and valid blocks are now invalid.
  2. a change in consensus (creating a new coin)
  3. The risks performing a hardfork wold be that some of the nodes won’t accept the new protocol and others nodes will. Therefore a hardfork will split the ideology of the community.
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#3930

  1. a softfork is when new conditions are set that makes previously valid block invalid, while hardforks introduce conditions that allow previously invalid blocks to be considered valid

  2. a hardfork may be done in order to increase block size and transaction speed; it can introduce a new currency ecosystem altogether and phase out the previous one or run them parallel, hopefully with seamless integration

  3. if miners pick one fork option over the other for some reason (preferring one protocol over the other for personal reasons or for investment speculation), it may disrupt transaction speed, increase fees or decrease security

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#3931

  1. A hard fork is an expansion of the rules. Invalid becomes valid. A soft fork is a contraction of the rules. Valid becomes invalid.

  2. To update the current rule set.

  3. You can decrease hash power, which can be an issue for security. You can also spit the chain and community.

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#3932

1-3
*There are many differences between them, but the main difference is:

Soft Fork is an update that makes a former valid block to invalid, that means the rules for the block is changede. example is if u reduce the blocksize from 2mb to 1mb that means the 2mb blocks is invalid by thte new rules and therefor wont be accepted to the blockchain. so the former blocks with the 2mb with the “old rules” will continue its chain as long is there is nodes who didt update yet and mined 2mb blocks. Same rules apply here that is, the longest chain will will be accepted into the blockchain network and the blocks with the old rules will be invalid cuz the new rules blocks grows faster.

Hard Forks is the opposite, here the the previously invalid becomes valid, for example if the blocksize changes by increasing from 1mb to 2mb, that makes former 2mb invalid blocks becomes valid. here the different is that the nodes with the old rules keep mining only 1mb blocks this will create a hard fork, the difference is the 1mb rule blockchain dont gets invalid cuz it continue to mine only the 1mb blocks. this usually splits the community in the network and split the hash power and this is considered less secure and risky. It also creates a new currency like BCH, BTG and BCD for example.
The typical reasons for a hard fork update is to increase the transaction in a block, or increasing the blocksize like in 2017 with segwit2x *.

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