Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4074

1.) Hard forks are where previously invalid blocks become valid…an expansion of the rule set. Soft forks are where previously valid blocks become invalid…a contraction of the rule set.

2.) To expand consensus rules…to make upgrades…increase speed…possibly create a new currency

3.) Security is weakened…hash power is split between two chains.

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#4075
  1. What is the difference between a softfork and a hardfork?
    A softfork does not lead to the creation of a new blockchain, as does the hard fork. A soft fork is an update on the blockchain protocol that is backward compatible, it introduces some changes in the code that do not severe the functional continuity with its previous version. On the contrary, a hard fork consists of changing the blockchain protocol in a way that is not backward compatible, hence introducing a discontinuity with the previous version.
  2. What are some of the reasons why you would do a hardfork?
    An update on the consensus rules in the network do ensure integrity and security.
  3. What are some of the risks with performing a hardfork?
    Loosing hash power and thus security. Separating the community.
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#4076
  1. With a soft fork, only one blockchain will remain valid as users adopt the update. Whereas with a hard fork, both the old and new blockchains exist side by side, which means that the software must be updated to work by the new rules.
  2. There are a number of reasons why developers may implement a hard fork, such as correcting important security risks found in older versions of the software, to add new functionality, or to reverse transactions—such as when the Ethereum blockchain created a hard fork to reverse the hack on the Decentralized Autonomous Organization (DAO).
  3. Hard forks are potentially messy and plagued by double spending problem: coins spent in a new block can be spent once again in an old block as merchants and users with the old version of the software will not see the spending registered on a new chain.
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#4077
  1. HF makes previous invalid blocks valid, SF the opposite
  2. It’s a clear update, needs 100% of consensus
  3. Split chain and community, plus hash power is splitter too
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#4078

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

  2. There could be a debate within the community over which consensus rule to follow moving forward, or there may just be a collective choice/decision to create a new cryptocurrency for some reason.

  3. Hard forks tend not to be preferred because it always results in a split chain as well as a hash power split, since the collective set of nodes in the network will be split essentially into two different entities. Also, I’m assuming that as with any community, a split caused by differences in opinion is usually not beneficial.

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#4079
  1. Hard forks validate previously invalid blocks while soft forks invalidate previously valid blocks.
    2.To add new code to network rules. 3. Hash power will decrease making the network less secure. The community will be split.
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#4080

1 - the softfork restricts the set of rules, and the hardfork expands it
2 - to have a clean break from the previous set of rules and a democractic choice
3 - you split a community, create a new coin that may not get traction

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#4081
  1. A Hardfork is an expansion of a rule set and makes a previously invalid blocks valid.
    Softfork means a contraction of the rule set and makes previously valid blocks invalid.
  2. Reason for a hardfork is to enhance some attributes (like blocksize increasing) of the chain.
    Resulting in a split of the chain and a new coin is created.
  3. The community get split and therefore it could led to a reduction of the hash rate and make the blockchain vulnerable
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#4082

  1. Soft forks make previously valid blocks invalid and hard forks make previously invalid blocks valid.

  2. An example of a change requiring a hard fork would be increasing the block size limit.

  3. The chain may split (will split unless all nodes update their consensus rules) which may lead to reduced hash power and a divided community.

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#4083
  1. A softfork update makes previously valid blocks invalid whereas a hardfork update makes previously invalid blocks valid
  2. Hardforks updates preserve the democratic proses of consensus by allowing nodes to choose whether or not they update and accept the new chain
  3. There will always be the risk that not every node will update and accept the new chain
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#4084

  1. Soft forks is a contraction of the set or rules and a hard fork is an expansion of the set of rules.

  2. Desired changes in the protocol by the community , malicious bugs in the code.

  3. It can create a separate chain, might reduces the hashpower of the original chain, less secure because of a split in community

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#4085

Homework on Soft and Hard Forks - Questions

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

Hard forks make previously invalid blocks valid, which means nodes that didn’t update will not accept new blocks from updated nodes, while soft forks make previously valid blocks invalid, which means non-updated nodes, will still take blocks from updated blocks.

  1. What are some of the reasons why you would do a hard fork?
  • Hard forks allow the community to make a decision, where nodes that are not in favor of the update can stay in the previous blockchain
  • Hard forks can allow the creation of new currencies working on a separate blockchain, although these have a common past with the original currency
  • Hard forks can immediately correct certain issues in the blockchain
  1. What are some of the risks with performing a hard fork?
  • Community will split between people that are in favor or not in favor of the update
  • Weakened security, as hash power is split
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#4086

Softfork: makes previous valid blocks invalid.
Hardfork: makes previous invalid blocks valid.

Because you might want to increase the block size.

  • splitting the community
  • losing hashpower
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#4087
  1. Hark forks make previously invalid block valid, and soft fork makes previously valid blocks invalid
  2. Add functionality and doing it in a more democratic way
  3. Split chain, reduce hash power doint it less secure, and divide the community
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#4088

  1. A soft fork is an update that makes previous valid blocks invalid and is a contraction of the current rule set. A hard fork is an update that makes previous invalid blocks valid and is an expansion of the rule set.

  2. A Hard Fork may be implemented to remove a security risk from the current version of blockchain, such as when Ethereum hard forked to reverse transactions from a anonymous hacker. Also new functionality can be added via a hard fork which would not be compatible with the current blockchain.

  3. A Hard fork could cause a security risk as the split chain will cause the miners to split also to either chain. This would reduce the overall hash power of each chain and increase the vulnerability of an attack to the network. Also it will cause a split in the community as not all nodes will update to the new rule set.

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#4089
  1. Hardfork adds new rules to the ruleset/ expands. Softfork makes valid rules invalid/ contracts.
  2. Hardfork is more clear and democratic.
  3. Creates a fork, splits the hash power and community.
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#4090

What is the difference between a softfork and a hardfork?

Hard fork splits the chain and community, it expands the consensus, but can also decrease hash power of the network. It also requires 100% nodes to update to avoid fork.

Soft fork doesn’t split the network, it narrows the consensus, but it can be confusing for nodes that haven’t updated. It requires >50% nodes to update to avoid fork.

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

Add some expansion to the consensus, different point of view in terms of developing the network.

What are some of the risks with performing a hardfork?

It reduces hash power, split community and can weaken the currency.

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#4091

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

  2. It is free to choice to stay on same or new updated blockchain that will typically have newer innovation/better functionality.

  3. Security will be decreased because of decreased hashing power.

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#4092

  1. A hardfork is an expansion of the rule set, it will make previuosly invalid blocks valid.
    A softfork is a contraction of the rule set, it will make previously valid blocks invalid.

  2. A hardfork may be required if it is needed to increase the functionality of the network, change the rules involving consensus.

  3. A hardfork can split the chain and the community, and also split hash power decreasing the security of the chain

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#4093

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

Hard fork= update that make previously invalid block valid

for example: change consensus rule about block size from block size less or equal 1 Mb to be 2 Mb.
Need 100% of the network to update to avoid the fork
whatif during update we can convince miner to update with the new software just 60%
The block with 2Mb propogate to the network, the new node accepts and append it to the blockchain but the old node still following the old rule.They will disregard this block because invalid for them and they will continue mine on their block
and find the block that has 1 Mb and then in the network we will have a fork.

Fork only happend in the chain when we have two version of truth and this is an update context happened when different node update different consensus rule.

Soft fork = update that make previously valid block invalid
for example: change consensus rule about block size from block size less or equal 1 Mb to be 500 Gb
The new block produced within the rule set and use just > 50% hash power is enough.Better plan update.

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

Change of consensus rule to expand rule.
Create a new coin by hardforking
Clear update when add new functions because all nodes need to agree and update all (democratic)

3. What are some of the risks with performing a hardfork?
The node need to update 100% all and it make the chain split because old nodes can’t communicate with the update nodes.
This means that the old nodes will not accept the newly updated blocks, and the new blockchain will operate on new rules that continually reject blocks from the old blockchain.
Hard forks are dangerous because they split the hashing power of the network, therefore reducing the network’s security and processing capacity overall.

Refer: https://freemanlaw.com/hard-and-soft-forks-a-detailed-and-simplified-explanation-of-how-blockchains-evolve/

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