- soft fork contracts, shrinks a rule set, hard fork expands rule set, so at soft fork previously considered valid blocks would now be invalid and in hard fork previously invalid blocks become valid which reflects in a different overall “network behave” with some pros and cons in each case
- when clear update is wanted, community is not necessary coherent in accepting and imposing this new rule set - update
- splitting a chain and community plus reducing a hash power of a network can reduce security of that blockchain network among other risks (similar to “forced” divorces which can be nasty with a lot of different potential risks:P)
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1.What is the difference between a soft fork and a hard fork?
Hard fork makes previously invalid blocks valid and Soft fork makes previously valid blocks invalid.
Hard fork makes the chain split in two and it can be considered as expansion of rules. Hard folk creates new currency and splits the hash power of the chain.
Soft fork doesn’t split the chain and it is contraction of rules.
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What are some of the reasons why you would do a hard fork?
we do hard fork when we need to update or expand the rule of consensus. It is generally done when someone wants to create a new currency or new block chain while keeping the most of the rules of previous chain. -
What are some of the risks with performing a hard fork?
It splits the hash power of the network and main network has less miners after a hard fork. It could lead to the congestion of network.
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Softfork makes previous valid blocks invalid (contraction)
Hardfork makes previous invalid blocks valid (expantion) -
Changing vision and consensus
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- split of the chain
- split of the community
- hash power split = security going down
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What is the difference between a softfork and a hardfork?
A H.F.U. is an expansion of the rule set & previously invalid blocks become valid while a S.F.U. is a contraction of the ruleset & previously valid blocks are now invalid. -
What are some of the reasons why you would do a hardfork?
A H.F.U. is the more democratic solution for it allows miners to choose the consensus rules they prefer by selecting one or the other chain. It also expand on the existing ruleset, introducing something new (that may or may not be good necessarily). -
What are some of the risks with performing a hardfork?
That the hash power would split into 2 chains thus lowering security.
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A soft fork is that which makes previously valid blocks invalid, resulting in a temporary chain split. The update is backward compatible however, and so the network will eventually continue on the longest chain. On the other hand, a hard fork is that which makes previously invalid transactions valid, resulting in a permanent chain split. The update is not backward compatible with the old version, so the chain will remain separated forever.
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To create a new currency, and to have the power to chose whether you want to update or not.
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Splitting the hash rate, making both new chains vunerable to attack, and splitting the community.
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- HF is an expansion of the rule set. SF is a contraction of the rule set.
- It can allow groups of people who disagree on protocols to go their own way. If a HF is used to increase the block size, then more transactions can fit in a block, which reduces the time it takes for transactions to complete.
- It splits the community, which also splits the hashing power, making it more vulnerable to a 51% attack.
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- What is the difference between a softfork and a hardfork?
a soft fork makes previously valid blocks invalid while a hard fork makes previously invalid block valid. as with a soft fork the network will continue sooner or later with the longest chain, this is not possible with a hard fork. - What are some of the reasons why you would do a hardfork?
miners can choose one or the other chain, one could create a new currency, change of vision and rules - What are some of the risks with performing a hardfork?
hash rate is split and thus, making both chains less secure and more vulnerable
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A Soft Fork makes previously valid blocks invalid whilst a Hard Fork makes previously invalid blocks valid.
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To cope better with saturation on the network by increasing the maximum block size and fit more transaction data into blocks or gain any other performance improvement in the network, to fix protocol bugs and to create a new cryptocurrency.
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Splitting the chain into two separate networks with two separate coins/tokens, splitting the community and splitting the hash power, which would greatly diminish the security of the network (both networks).
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1. What is the difference between a softfork and a hardfork?
A soft fork happens when a cryptocurrency platform’s existing code is altered.
The old version is still on the network, now earlier valid blocks are invalid.
A hard fork is when the new split version is created and results in a new coin.
Here the earlier invalid blocks are valid. E.g the crypto coin: Ethereum classic [ETC]
2. What are some of the reasons why you would do a hardfork?
A change in the consensus (Agreement) rules.
It becomes more democratic (many would say)
3. What are some of the risks with performing a hardfork?
A chain and community split, reduction in hash power due to the network split.
Nodes might lose trust over the security issues, and all this can result in a weaken currency.
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a soft fork is when valid blocks become invalid, A hard fork is when previous invalid blocks become valid
if for some reason you had to change the consensus protocol
a risk when performing a hard fork is a divide in the community not agreeing on the changes
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- What is the difference between a softfork and a hardfork?
A hardfork extends the rules of the blocks, making the previous invalid blocks valid. A softfork restricts the previous blocks, making valid blocks invalid.
- What are some of the reasons why you would do a hardfork?
New rules, e.g. the block size that needs to be increased.
- What are some of the risks with performing a hardfork?
Since this leads to a chain split, the community will also be split and the miners, i.e. the hash power in the network, will decrease. Security thus decreases.
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- Hard fork expands the rule set - invalid valid. A Soft fork constricts rule set - valid invalid.
- If there needs to be a consensus, version change.
- Hash power split and can split community.
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| Soft Fork | Hard Fork | |
|---|---|---|
| Backward Compatible? | Yes | No |
| Block Size | Smaller | Larger |
| Speed | Slower | Faster |
| Security | Lower | Higher |
| Some previously valid blocks will become | Invalid | Valid |
| Some prreviously valid blocks will become | Valid | Invalid |
(Adapted from this site)
- For security reasons: Using the extra space in the block can be the only way to include information that can be helpful to avoid DoS attacks or any other type of security bug.
- Performance reasons: Using the extra space in the block can be the only way to accommodate code changes that can lead to better performance
- In order to have new features
- Dividing the community - both a loss in human resources and a source of human conflict
- Dividing the hash power (this can make it less secure)
- Dividing the market cap as you create a new currency
- Some nodes may not be aware of the change on time and still run the old system (although some times it can be planned well in advance to mitigate this)
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A hard fork is an update that makes previously invalid blocks valid and a soft fork is an update that makes previously valid blocks invalid.
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A hard fork would good for proposed change in consensus.
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There would be split in the chain, as well as in the community and hash power, which can decrease security of network.
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- A hard fork needs 100% of the nodes to agree often causing a split in the chain. In case of a soft fork and the majority agrees the nodes that did not update can still accept the new blocks (it’s backward compatible)
- If there is a clear division in the set of rules the community doesn’t agree on. This often happens when the rule set gets expanded
- The chain is split causing the community to split. Also the hashpower will decrease on each chain lowering the security of that chain.
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- The difference is the the soft fork make valid blocks invalid while a hard fork makes invalid blocks valid.
- Reasons to do a hard fork is cause it’s a clear update, it’s democratic and it creates new currency.
- The risks though are that it will cause a split with in the chain and the community due to the unwilling to change with the update.
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- What is the difference between a softfork and a hardfork?
Soft forks make previously valid blocks invalid and require the majority of the nodes to have the updated logic. Hardforks make previously invalid blocks valid and require all nodes in the new chain to have the same logic.
- What are some of the reasons why you would do a hardfork?
Its a clear and clean update since a completely new chain is created with the original chain being kept intact.
- What are some of the risks with performing a hardfork?
An entirely new chain will be created in turn splitting the community participants. Lets participants means less hash power, lowering the security until new miners come as network participants.
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Hard forks - makes previously invalid blocks valid, needs 100% of the network to update the fork.
Soft Fork - Update that makes previously valid blocks invalid, Only needs about 50% of the network to confirm soft fork. -
New currency, has a clear update, democratic
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Splits the chain, splits the community, Hash power is split
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- What is the difference between a softfork and a hardfork?
- A softfork is when an update makes previously valid blocks invalid. A hardfork is where previously invalid blocks become valid.
- What are some of the reasons why you would do a hardfork?
- A hardfork is done when there is a general update, that nodes have to accept that update.
- What are some of the risks with performing a hardfork? It splits the chain, it splits the community. Creation of a new token.
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SF is an update in the consensus rules that makes previous valid blocks became invalid from then on… and HF makes previous invalid blocks bacame valid from then on.
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Thinking in terms of an expansion tool, the HF would be adopted whenever the network is planning to grow, to evolve, to embrace things that wasn’t in the radar before, to expand, and so on…
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The splits would be the crucial point… lose hashpower, split the comunity and the chain can have unpredictable consequences
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