Homework on Soft and Hard Forks - Questions

[Nadia]

• What is the difference between a softfork and a hardfork?

Hardfork makes previous invalid blocks valid, and softwork makes previous valid blocks invalid.

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

It is more clear way to update the rules, all nodes are forced to make a decision to stay on previous chain or to go to the new one, so it is more democratic.

• What are some of the risks with performing a hardfork?

It splits chain and hash power split reduces security level.

[btcbrandon]

1. Hard forks are consensus rule updates that make previously invalid blocks valid and soft fork updates make previously valid blocks invalid.

2. You may want to do a hard fork update if you want clear that don’t produce confusion and are democratic in the sense that they allow adherents to old rules to continue to participate.

3. Risks involved with hard forks involve splitting the chain are creating a new currency, splitting the community and thereby splitting the hash power which may pose security risks to the network.

[Elect43]

1. What is the difference between a softfork and a hardfork?
   A softfork makes previously valid blocks invalid and a hardfork makes previously invalid blocks valid and splits the block into two.

2. What are some of the reasons why you would do a hardfork?
   In order to change consensus

3. What are some of the risks with performing a hardfork?
   The hash power reduces as well as security reduces as miners are split into two groups.

[jimb]

1.previusly valid becomes invalid, previously invalid become valid.
2.add network functionality
3.lossing hash power, split community.

[Padma-Suta]

1. The difference lies in the Rule of expansion or contraction of the rules.

2. Some reasons could be, that you want a new currency, clear updates and it’s called more of a democratic type

3. We need 100% of the network to avoid a hardfork, there is risks of a split chain, split community, potential new currency which could be unwanted and the Hash power can split

[Ivan_Eth]

1. What is the difference between a softfork and a hardfork?
   Soft folks makes previous valid transaction invalid; hard folk makes previous invalid transactions valid.
   For soft folks, only 50% or more consensus is needed to have a folk, while hard folks need 100%.

2. What are some of the reasons why you would do a hardfork?
   Creating a new coin, adding new functionality.

3. What are some of the risks with performing a hardfork?
   need 100% of nodes to update to the new consensus rules, splitting PoW power which lowers the security of the network.

[Lystopheer]

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

Softfork is when lower block size is used. This doesn’t cause a split in the chain, is self righting (majority wins) and makes previously valid blocks (larger) invalid. Hardforks do the opposite and make the block larger… making prevoulsy invalid blocks (larger) blocks valid.

2. What are some of the reasons why you would do a hardfork?
   When there is a clear split in vision and / or consensus on / for the chain

3. What are some of the risks with performing a hardfork?
   Splits community and creates a new currency and reduces hashpower (due to split)

[Robertcrypto]

1. A hard fork expend the block rules. A soft fork reduce the blockrules.
2. It is “democratic” -> consensus
3. It splits the chain and split the hash power

[Vanhait]

1. What is the difference between a softfork and a hardfork?
A hardfork is a change in the code that makes previously invalid blocks valid (expansion). A softfork is a change that makes previously valid blocks invalid (contraction).

2. What are some of the reasons why you would do a hardfork?
If you wanted to start a different currency with different rules. Or for some reason wanted a different blockchain.

3. What are some of the risks with performing a hardfork?
Doing a hardfork splits the blockchain. In doing so you risk splitting the community. You risk losing a portion of your hashing power.

[Simo03]

1. What is the difference between a softfork and a hardfork?
   Soft fork: will make previously valid blocks invalid and are a contraction of the rule set
   Hard fork: will make previously invalid blocks valid and are an expansion of the rule set

2. What are some of the reasons why you would do a hardfork?
   If you want to create a new coin or split the chain

3. What are some of the risks with performing a hardfork?
   Will split the chain and the hash power

[Tom95]

1. A hardfork is a change in consensus where previously invalid blocks are now valid, where a softfork is a change in consensus where previously valid blocks are now invalid.
2. If one side of the community wants a change in consensus, where the other side doesn’t - democratic reason.
3. It would make the hashpower splitted in both chains, which means less secure.

[Riske]

1. What is the difference between a softfork and a hardfork?
   a softfork makes previous valid blocks invalid a hardfork does the opposite

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

To force an update, creating a new coin and leave the old version active

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

Split of the community, loose trust in the blockchain / coin

[IrishDevlin90]

1. A hard fork is an expansion of the ruleset where previous invalid blocks become valid. While a soft fork is a contraction of the ruleset where previous valid blocks become invalid.
2. A hard fork would be implemented due to a change in consensus.
3. Will create a new currency and will split the chain resulting in split hash power and a less secure network.

[MichaelGolpe]

1. A hardfork requires full compliance from chain users, while a softfork requires only majority consensus.
2. This could be done to correct an urgent issue with the chain; compromised code, 51% attack, etc.
3. For a PoW chain, hash power is of high risk. Also, a separate chain my likely develop- sometimes this is intended; ETC, BCH are examples.

[MichaelAudire]

1. A softfork is a fork that results from an update that makes previously valid blocks invalid. A hardfork is a fork that results from an update that makes previously invalid blocks valid. Softforks are a contraction of the consensus protocol. Hardforks are an expansion of the consensus protocol.

2. Hardforks can be beneficial, chain splits allow nodes that don’t want to participate on updated chain, to have their own chain.

3. Hardforks reduce hash power by splitting the network, thus decreasing network security.

[Abdulgaf1803]

1. A hard fork update is an expansion of the rule set and previous invalid blocks are valid where a soft fork is a contraction of the rule set and valid blocks are now invalid.
2. A hard fork would be done if consensus needed to be changed.
3. The risk would be split hash power and a less secure network and a split chain.

[Boyan]

1. Hard forks make prevoiusly invalid blocks valid, soft fork makes previously valid blocks invalid

2. Change in rules.

3. Split of hash power.

[VitoGorbach]

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

A softfork update is a contraction of the rules, the miners follow, where previous valid blocks are suddenly invalid. Contrariwise a hardfork update is an expansion of this rule set, which as a result makes previous invalid blocks valid.

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

The miners which haven´t updated, then create an own chain (own coin e.g. Bitcoin Cash), by not accepting and ignoring certain added blocks, which apply to the new rule - set but don´t apply to the old one. Thus, a hardfork is the democratic solution, due to miners being able to choose which consensus rule set to follow.

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

It´s a risk that the chain splits, therefore splitting the miners, resulting in decrease of security of the blockchain, due to the hash power being divided. In consequence the newly created chain is significantly more vulnerable to a 51% attack, due to there being way less miners than in the original chain.

[ish]

1. Hard fork makes previously invalid blocks valid and Soft fork makes previously valid blocks invalid.
2. Upgrade, Improvements, change of Consensus.
3. Split of hash power, split of network, split of community.

[Brain_Ngorima]

1. The difference between a soft fork and hard fork is tat a soft fork makes previously valid blocks invalid whereas hard forks do the opposite which is making previously invalid blocks valid.

2. A hard fork can be done as an upgrade to the network.

3. Risks of hard fork are splitting the community therefore reducing security by taking away hash power.