Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#3973

soft fork dont accept previous accepted blocks and hard forks accept previous invalid block.
2. 100% need to be changd to the new rules
3. most like will cause a fork in the blockchain.

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#3974

  1. What is the difference between a softfork and a hardfork?
    Hard fork is an update that makes previously invalid blocks valid, soft fork is an update that makes previously valid blocks invalid.

  2. What are some of the reasons why you would do a hardfork?
    A change is been done if consensus needed to changed.

  3. What are some of the risks with performing a hardfork?
    It can cause to split hash power and make network less secure and would split chain.

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#3975
  1. Soft Forks come up due to contraction of rules while hard forks are due to the expansion of the rules.
  2. You can do a hard fork to expand the network to increase the block size for example.
  3. Hard forks can split the network, the community, the network hash power, and leave security concerns for the network.
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#3976

1- A softfork is a fork that makes previously valid blocks invalid, and a hardfork makes previously invalid blocks valid.

2 -
a - A hardfork can expand the rules of the network and upgrade for further uses required
b - Helps the community decide what is fundamentally important to them and what should change

3 -
a) Split of community
b) split and continuation of parallel blockchain

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#3977

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

  2. Hardforks can be preferred considering that it needs 100% of the network to update in order to avoid the fork and it is a clear update wherein miners can choose if or not to participate in the new fork.

  3. Risks of hardfork is that splits the community, blockcahin, total hash power and forms a new currency

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#3978

  1. What is the difference between a softfork and a hardfork?
    A hard fork is caused by the new ruleset making valid blocks that would have been invalid in the previous ruleset. Thus, un-updated nodes will not accept some blocks that are accepted by updated nodes. In soft fork, the new ruleset is a subset of the old one, so old nodes will accept any blocks conforming to the new ruleset as valid.

  2. What are some of the reasons why you would do a hardfork?
    A hard fork may be necessary to achieve whatever goal the proponents of the new ruleset have in mind (such as creating a new currency). Some might also consider it more democratic, allowing participants to choose the ruleset they want to follow.

  3. What are some of the risks with performing a hardfork?
    Performing a hard fork runs a risk of splitting the community as well as the hash power.

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#3979

  • What is the difference between a softfork and a hardfork?
    A: Hard forks are when the consensus rules Expand, or when the previously invalid rules become valid.
    Soft Forks are when the consensus rules contract, or when the previously valid rules become invalid.

  • What are some of the reasons why you would do a hardfork?
    A: provides the community a clear reason to update.

  • What are some of the risks with performing a hardfork?
    A: 1) Splits the blockchain, 2) Splits the Community, and 3) Splits the Hashing power

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#3980
  1. Hard forks adds extends the consensus rules. It will also produce a different chain, that will be continued with on different nodes, having different dev team, so itā€™s a new currency
  2. If you want to propose an upgrade that extentds the consensus and in your opinion itā€™s just superior. Then if not all the miners will agree to the update it will produce a Hard Fork
  3. It will produce a different currency. Previous transactions are both valid on both chains. Which means if you had coins on the blockchain before the Hard Fork, after you will have the same amount on both chains. Itā€™s inflationary
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#3981
  1. A softfork happens when there is a contraction of the ruleset for valid blocks, while a hardfork is required for a expansion of the ruleset
  2. Expanding consensus rules, creating a new coin with different properties, lack of agreement among network participants about the future development direction
  3. Splits the hash power (depending on how many people mine each fork), community. Creates new coins (not necessarily a risk, but might create additional volatility)
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#3982

  1. A soft fork makes previous valid blocks invalid, whereas a hard fork makes previously invalid blocks valid.

  2. To make improvements and updates to your blockchain based on consensus.

  3. It reduces hashpower and could potentially split the community.

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#3983

1.Hard Fork: Changes consensus rules to make previously invalid block valid

Soft  Fork: Change consensus rules to make previously valid blocks invalid.

  1. Democratic process to changing consensus, expansion of current consensus parameters.

  2. It could create a new currency/chain through disputed consensus

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#3984

  1. A hardfork results in the production of a separate blockchain, whereas a soft fork can include an update that maintains the original blockchain rule set.

  2. A hard fork could be done if there is a desire to change the rule set by making it more expansionary (i.e., allowing a more inclusive set of parameters to validate a block).

  3. A key risk with performing a hard fork is that it may result in a separate blockchain, which then bifurcates the set of miners validating transactions. The strength of the two new blockchains may be weaker than the original single blockchain.

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#3985

Soft fork valid block becomes invalid which contrast and with a hard fork invalid block becomes valid which expands.

Updates are clear, democratic and old block remains.

It splits the chain, hash power and chain community.

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#3986
  1. What is the difference between a softfork and a hardfork?
    A: A Soft Fork is a Contraction of the rule set > it makes previously valid blocks invalid, while a Hard Fork is an Expansion of the rule set > it makes previously invalid block valid.
  2. What are some of the reasons why you would do a hardfork?
    A: To update the Consensus Rules of the network.
  3. What are some of the risks with performing a hardfork?
    A: - the risk of splitting the network;
  • the risk of splitting the community;
  • the risk of splitting the Hash Power, which reduces the security of the network.
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#3987

-There are a lot of things that separate a Soft Fork from a Hard Fork or like splitting the chain, the way it is implemented.
-The main reason to implement a hard fork will be to expand the set of rules or validations that need to take place to accept a block.

  • Splitting the chain and the community. Also a degradation of trust in the coin
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#3988
  1. What is the difference between a soft fork and a hard fork : A Hardfork is where there is an expansion of the ruleset for blocks that are mined and a soft fork is where there is a contraction of the ruleset for blocks that are mined.
  2. What are some of the reasons why you would do a hard fork : Say you want to add new functions or features to the blockchain, improve the security or to launch new blockchain products like for example Bitcoin Cash, then you would do a software update that creates a hard fork in the blockchain. It could also make a blockchain for example cross compatible with other blockchains. Another reason that might for example create the ability to mine blocks of a larger size is computing / mining power and data storage / propagation technology that can process a higher adoption level for a specific crypto currency.
  3. What are some of the risks with performing a hard fork : It could split the community of miners / developers working on a certain protocol, it could create a wasted effort for non-updated miners working on blocks that fits into a tighter rule set where for example blocks complying with a broader ruleset can be accepted onto the blockchain. It also means that newer blocks do not support old blocks and vice versa. Old users will therefor be completely seperated from the new blockchain.
2 Likes
#3989

  1. The difference is that one doesnā€™t work if there are changes in a current rule set (HARD) while the other works when changes are made (SOFT)

  2. a Hard Fork is used when thereā€™s a change in consensus rules

  3. The risk of hash power diminishing from an original chain would lead to reduced security. It causes a split in the community and eventually lead to infighting. This is due to the fact that for that to happen, it requires everyone to be involved just to update

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#3990

  1. hardfork expands the rule set and needs 100% of nodes updated or there will be a fork created that can exist simultaneously with the other chain. It essentially will split the chain and create a new currency.

  2. To change of concensus or vision

  3. you would lose much of the community creating less hash power which would reduce security of the network.

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#3991

  1. A soft fork makes previously valid block invalid whereas a hard fork makes previously invalid blocks valid.

  2. Some reasons you would do a hard fork are the emergence on a new coin from the split in the blockchain and that it is a clear update with consensus.

  3. Some risks of a hard fork is less security as less miners will be mining the new coin resulting from the fork and that it split the community.

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#3992

  1. the difference between a hard fork and soft fork is that a hard fork effects blocks that donā€™t fit into the new consensus and makes old blocks that where valid invalid. And a soft fork only makes blocks that where previously invalid valid.

  2. Changes in the consensus for x reasons.

  3. the net work splits in half and so does the security.

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