Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4033

  1. hardfork is an update that make invalid blocks valid, softfork is vice versa.

  2. change in consensus and rules.

  3. due to the fact that some miners would not accept the new blocks and would split from the blockchain, there would be a reduction in hash power which reduce security of the network.

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#4034

  1. What is the difference between a softfork and a hardfork?
    HARD FORK: (1)Makes previously invalid blocks now valid. (2)REQUIRES 100% of the Nodes on the network to update to avoid the Fork. (3)Viewed as EXPANSION (we are increasing the Consensus Rules).
    SOFT FORK: (1)Makes previously valid blocks now invalid. (2)REQUIRES >50% Hash Power, then this will avoid the Fork. (3)Viewed as CONTRACTION (we are tightening and decreasing the Consensus Rules).

  2. What are some of the reasons why you would do a hardfork?
    In Bitcoin’s history, Hard Fork Updates changed the Block Size. These Hard Fork Updates were: (a)Cash (b)SV ©Gold (d)Diamond.
    The network votes to change the Consensus Rules, e.g., going from Proof of Work to Proof of Stake or Proof of History.

  3. What are some of the risks with performing a hardfork?
    Some of the CONS of a Hard Fork Update is you Split the Chain, Split the Community, and you Split Hash Power.

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#4035
  1. What is the difference between a softfork and a hardfork?

A SF makes what was previously valid invalid and HF is vice versa

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

Change functionality/consensus
Fix protocol
Performance improvements

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

Reduced security due to chain split

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#4036

Hey guys!

  1. A soft fork is when there is a contraction to the rules for how a block is to be formed and whatever blocks came before that that were invalid are then valid. Decreasing the size requirement for a block is an example.
  2. A hard fork would be used when there is an expansion of the rules. This is done to make the process of mining more efficient.
  3. Some of the risks with performing a hard fork are that some blocks that are technically valid previous to the update are then left as stale blocks once the update has happened. This can split the community and split the hash power.
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#4037

1. What is the difference between a softfork and a hardfork?
A SF update makes previously valid blocks invalid whereas a HF update makes previously invalid blocks valid.

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

  • To expand block size to hold more information
  • To change consensus rules
  • To upgrade the current network (eg. Bitcoin cash)

3. What are some of the risks with performing a hardfork?
It can create a second chain running with all those who did not update yet, creating a split in the hashpower and community, providing a less secure network.

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#4038
  1. What is the difference between a softfork and a hardfork?
  • A hard fork is caused by an update of the blockchain with wich the consensus rules are expanded so previously invalid blocks become valid. A soft fork is caused by an update of the blockchain where consensus rules are contracted and previously valid blocks become invalid.
  1. What are some of the reasons why you would do a hardfork?
  • A hard fork may be initiated to enlarge the block size or to include performance enhancements or to fix security issues.
  1. What are some of the risks with performing a hardfork?
  • Hard forks can split the blockchain and with it the community. This leads to a reduction of the hash power which might impact the security of the whole system (blockchain).
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#4039
  1. What is the difference between a softfork and a hardfork?
    Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    You need to change consensus rule set.
  3. What are some of the risks with performing a hardfork?
    Hash power is split and the network and community gets fragmented.
2 Likes
#4040

  1. A Hardfork (Hf) is an expansion of a rule set; whereas a Softfork (Sf) is a contraction of a rule set… ie A Hf makes a previously invalid transaction valid; and a Sf makes a previously valid transaction invalid.

  2. A good reason is to enhance some attribute(s) of the chain… that is supported by consensus

  3. in addition to splitting the community, a risk of the Hf includes a reduction in the hash rate with a corresponding reduction in security vulnerabilities, potentially

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#4041

  1. Soft fork is a contraction of the ruleset - hard fork is an expansion of the ruleset

  2. Some reasons to do a hard fork - to create a new currency, to make the update clear and democratic

  3. Risks when performing a hard fork - it splits the chain and splits hash power, reducing security, and it splits the community

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#4042

1.) a hardfork make invalid blocks valid and a softfork makes valid blocks invalid.

2.) when i think the currency is better with the hardfork.

3.) less security because the hashpower splits, community splits…

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#4043
  1. What is the difference between a softfork and a hardfork?

A softfork is a contraction of rules where previously valid blocks are now invalid. A hardfork is an expansion of rules where previously invalid blocks are now valid.

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

Increasing the block size or to introduce an expansion of rules for consensus.

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

There is a split in the chain and community that causes less network distribution, thus making less security. The hashing power is divided between two blockchains.

2 Likes
#4044
  1. What is the difference between a softfork and a hardfork?
    Softfork makes prev valid blocks invalid (Contraction of rule set)
    Hardfork makes prev invalid blocks valid (expansion of rule set)
  2. What are some of the reasons why you would do a hardfork?
    To give a clear update that all nodes need to abide by
    Prevents confusion
  3. What are some of the risks with performing a hardfork?
    Not all nodes want to agree on new rule set expansion therefore creating a split chain, resulting in a new currency, split community, splitting hash power which will cause reduced security
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#4045
  1. What is the difference between a softfork and a hardfork?
    -> A softfork is backwards compatible. Some previously valid blocks may now be invalid. The chain does not need to split. A hardfork is the opposite, where previously invalid blocks may now be valid. Only the updated nodes can continue. If not every node updates the chain may split and henceforth two chains may exist.
  2. What are some of the reasons why you would do a hardfork? -> when a clear and clean update is wanted where each node needs to intentionally update or stay on the old chain
  3. What are some of the risks with performing a hardfork? -> the chain may split and the hash power reduces per chain accordingly which impacts security
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#4046
  1. What is the difference between a softfork and a hardfork?

A softfork reduces the ruleset (Previously valid blocks become invealid), while a hardfork expands the rule set.(Previously unvalid blocks become valid

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

It’s a clear change that makes that the nodes that does not have updated can continue on while the ones who change have to start mining a new chain with their new rules of consensus.

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

The hash power gets split. The community gets split. The chain is split

2 Likes
#4047
  1. Softfork: update that makes previous valid blocks invalid and Hardfork: update that makes previous invalid blocks valid.
  2. To force a change of the network to everyone (other rules)
  3. Split chain, split community, split hash power
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#4048

  1. Hardforks make previously invalid blocks valid. Softforks make previously valid blocks invalid.

  2. If you want to make a new chain/currency. It also gives a clear consensus.

  3. It’s possible not all miners will agree and go on the other chain meaning you will lose hashpower and therefore network security.

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#4049
  1. softfork contracts, hardfork expands
    2.change in concensus
  2. decrease security
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#4050

  1. hard forks make previously invalid blocks valid.
    Soft forks make previous valid block invalid

  2. you would create a hardfork if you wanted to increase the block size

  3. Risks of a hard fork are that if the miners dont agree to the change it will result in a chain split.

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#4051 
1.  Softfork updates are backward-compatible and do not split chains. Hardforks updates are not backward-compatible and split chains
2.  It can increase performance. It performs a clear upgrade and it is more democratic.
3. It split coin into two coins. It split the community. This can cause trust degradation in the token.
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#4052

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

Softfork
• Doesn’t create a fork in the network (two separate blockchains)
• Easier to implement (no democratic)
• Makes old valid transactions no valid. Example 1mB to 0.5mB upgrade.
• Backwards compatible (can be reverted with no problems).

Hardfork
• Likely create two different valid blockchains if not all nodes upgrade
• Harder to implement. Requires updating each node and if no consensus is reached, then two networks will operate independently.
• Makes old invalid transactions now valid. Example: 1mB to 2mB upgrade.
• Not possible to revert once a fork has occurred and parallel blockchains have been created.
• Create security issues (by reducing the hash power when splitting the nodes in the network)
• Possible incompatibility (security) issues. Like in the segwit upgrade where some nodes can still accept a transaction as valid but are unable to understand what the new changes are thus, they can’t verify the security of a new block.

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

• Increased set of rules that need to be accepted by the whole network.
• To add new functionalities.
• To reverse transactions.
• To correct important security risks.

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

• Create possible scenarios of double spending.
• Creation of parallel networks/lower security due to a split in the hash power available per chain.

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