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A soft fork is when a previously valid block becomes invalid because of a consensus update and a hard fork is when a previously invalid block becomes valid because of a consensus update
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You would do a hard fork to expand the rule set - for instance wanting to increase the block size to process more transactions in one block
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Risks of performing a hard fork is the hash power gets split up which reduces security. In addition the chain splits which leads to a community split
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- one is a contraction and one is an expansion
- consensus needs to be changed
- split in the community
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- A hard fork makes a previously invalid block valid whereby a soft fork makes a previously valid block invalid.
- A hard fork will occur if there needs to be a change in consensus.
- Some of the risks of a hard fork include a split in the community and reduced hash power.
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What is the difference between a softfork and a hardfork?
hardforks make previously invalid block valid
softforks make previously valid blocks invalid -
What are some of the reasons why you would do a hardfork?
to change the ruleset by consensus or maybe increase the blocksize like it was in BCH -
What are some of the risks with performing a hardfork?
splitting one blockchain into 2 - thats why it’s called forking. It reduces hashpower because some nodes deny the new fork and stay on the old blockchain, also community splits in 2.
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Soft fork makes previously valid transactions invalid and hard fork makes previously invalid transactions valid.
Hard forks need 100% of the nodes to have the updated version of the blockchain in order to be valid. This usually leads into a situation where some nodes will not have the updated version and will continue mining with old set of rules and becoming a sidechain existing parallel with the updated main chain.
Soft forks need only 50% of the nodes to have the updated version of the blockchain. Soft forks are usually compatible with the previous state of the blockchain. Hard forks are not and for that reason there will usually be sidechain as a result of a hard fork.
Expanding consensus rule set s an example of a situation where hard fork is needed.
Splitting the chain and the community is one of the cons of hard forks.
More people participating makes the network more safe.
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A soft fork doesn’t split the chain into two different currencies. it Invalidates certain previous notes. A hard fork does split into a separate chain and makes two different currencies. It validates previous nodes that were not able to be validated.
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upgrades to the block chain, or an improvement in protocol.
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The hash function goes down on both Blockchains. Also, it could be controversial within the community.
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A soft fork makes previous valid blocks invalid and hard forks makes previous invalid blocks valid.
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If a network wants to grow exponentially they may do a hard fork by changing their consensus to expand the blockchain.
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Some risk with performing a hard fork is potentially causing a security risk since hash power is split as well as dividing the community.
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1.- Hard fork means changes that makes previously invalid blocks valid, it happens when changes are made to expand the ruleset.
Soft fork means changes that makes prviously valid blocks invalid, it happens when changes are made to contract the ruleset.
2.- Reasons why you would do a hardfork can be when you want an update to be more clear and democratic, qhen you want a new currency, and others.
3.- Risks of doing so can be a split community, a split chain, and others.
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Soft fork contracts - make previously valid blocks invalid, hardfork expands - make previously invalid blocks valid
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change in consensus and rules
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hard fork results in split chains hence split community. Also hash power is diluted, hence security is strength is decreased.
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Homework on Soft and Hard Forks - Questions
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What is the difference between a softfork and a hardfork?
Both forks occur when an update is made. If the update makes previously invalid blocks valid> a hard fork will occur. If the update make previously valid blocks invalid > a soft fork occurs. -
What are some of the reasons why you would do a hardfork?
You want to do a new currency. -
What are some of the risks with performing a hardfork?
A hardfork splits the chain and the community. The hash rate is split too and leads to less security.
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- Hard forks: Happen when an update occurs that makes previously invalid blocks valid. It needs 100% of the network to update to avoid a fork. Hard forks lead to an expansion of the rule set.
Soft forks: Update that makes previously valid blocks invalid. Makes changes within current rule set. If consensus of 50% or higher from the community there will not be a new fork, <50% of less =a new fork. - A change in consensus.
- Hash power could split block into 2 chains which can also lower security.
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Soft forks make previously valid blocks now invalid by making rules more strict ; hard forks make previously invalid blocks now valid by expanding the range of what is valid.
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An hard fork can be done if we want to change the rules of consensus. In order to create a new currency, for example bitcoin cash. Miners can choose to stay on the old chain or to adhere to the new rules.
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Risk of having two separate blockchains, i.e. a divided community. That also means the hash power of the network will be split, i.e. smaller.
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What is the difference between a softfork and a hardfork?
The main difference is that a softfork is a contraction of the rules behind consensus, while the hardfork is an expansion of the rules behind consensus. -
What are some of the reasons why you would do a hardfork?
You would use a hardfork if there are two strong beliefs behind the consensus of a coin and one community decides to fork from the original community. -
What are some of the risks with performing a hardfork?
The hardfork can split the community. Hash power is also split into two chains.
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- What is the difference between a softfork and a hardfork?
Har Fork- AN update that makes previously invalid block valid.
Soft Fork- An update that makes previously valid blocks invalid. - What are some of the reasons why you would do a hardfork?
Democratic - What are some of the risks with performing a hardfork?
Splits the community like Bitcoin Cash did
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Soft fork:
- Makes previously valid blocks invalid thus it is reducing the rule set for valid blocks.
- You do not get a splitting of chains.
- soft fork updates are backward compatible.
Hard fork:
- More democratic.
- splits chain into two.
- Performs better.
- Makes previously invalid blocks valid thus increasing the rule set.
risks of hard forks:
- You have two coins.
- Splitting of community thus reducing trust.
- You can get a “replay” attack which is transferring signed transactions from one to the other chain.
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- What is the difference between a softfork and a hardfork?
I would define the difference as the way more blocks are included. In the hardfork the amount of blocks that can be included increases. Whereas, the softfork shrinkages the amount of blocks that are valid, reducing the possibility to have a valid block.
- What are some of the reasons why you would do a hardfork?
I would purpose a hardfork to reduce the complexity in a network and to include for instance more blocks into the network in order to reward more the miners.
- What are some of the risks with performing a hardfork?
The risk might be associated with a net loss in the amount of nodes and miners due to the split in the fork, as a consequence the community weakens and new currencies may appear reducing the incentive to mine/use the coin/block
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What is the difference between a softfork and a hardfork?
*Soft forks happen when different nodes are using different protocols… some have not updated to a new one. Therefore they begin producing two different blockchains instead of one, using different criteria.
A hardfork is created as a result of a change in protocol making formerly invalid blocks into valid ones. Nodes that are not updated to the new protocol continue to build the old chain, while the updated ones build a new and separate fork. -
What are some of the reasons why you would do a hardfork?
- There would be something about the current protocol that needs fixing, such as a possible security issue that Bitcoin had, and slow process times, which they solved with the SegWit update.
- What are some of the risks with performing a hardfork?
- On the downside, you are dividing the community that was all on the same page before.
Miners are divided into two separate forks where there was one.
This lowers the thoroughness of validation of each of the blockchains.
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- What is the difference between a softfork and a hardfork?
Soft fork results in changing the restriction of block size from bigger to smaller ( e.g 2 MB -> 1 MB). Hard fork changes block size restriction to bigger (e.g 1 MB -> 2 MB).
- What are some of the reasons why you would do a hardfork?
Changing the protocols of the network and if you want to split the currency.
- What are some of the risks with performing a hardfork?
Some miners might leave the blockchain for the other blockchain. Chain is split.
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- softfork is a change of rules that allows for the new accepted ruleset to still be valid within the previous ones whilst hardforks create a new ruleset that literally cause a split since it is in complete ‘‘dissagreement’’ with the old rules
- create a new currency, offer new rules to different demographic\
- less hash = less security on the blockchain
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1-Hard fork is an update in the block makes the previous invalid blocks valid, while soft fork makes the previous valid blocks invalid.
2- It is more democratic and clear.
3- Split in hash power and thus community.
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