Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4234

Homework on Soft and Hard Forks - Questions:

  1. What is the difference between a softfork and a hardfork?
    They are both updates of the blockchain, but for softforks previously valid blocks can become invalid as for hardforks, previously invalid blocks can become valid

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

  • More demand / transactions in the network forcing to increase the blocksize
  • Creating a new currency on the same blockchain
  1. What are some of the risks with performing a hardfork?
  • Security risk as hash power is split
  • Split community
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#4235
  1. What is the difference between a softfork and a hardfork? A soft fork is where a previously valid block becomes invalid and the fork will be impermanent. A hard fork is where previously invalid blocks become valid and a new chain is formed often forming another token.
  2. What are some of the reasons why you would do a hardfork? A hardfork required 100%adoption and would be necessary to make the desired change. Nodes will end up following one or the other fork.
  3. What are some of the risks with performing a hardfork? A hardfork divides miners each taking a different fork and so reducing hash power and security
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#4236

(1) A soft fork makes previously valid transactions invalid. A hard fork makes a previously invalid transaction valid.
(2) To have a clean update and to allow the network participants to democratically choose which chain they want to be on
(3) it splits the community. It splits the hash power in the network and thereby increase the security risks of the network

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#4237

  1. Soft fork is where a previously valid fork is made invalid.
    Hard fork is where a previously invalid fork is made valid

  2. A hard fork is clear and democratic. If consensus rules need to change.

  3. There could be a split in the community.

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#4238

  1. What is the difference between a softfork and a hardfork?
    A soft fork will make previously valid blocks invalid, and hard fork does the exact opposite (previously invalid blocks become valid).

  2. What are some of the reasons why you would do a hardfork?
    As computer capabilities increase with hardware development, larger block computations should be possible at faster rates, so block size increases could reduce transaction validation times.

  3. What are some of the risks with performing a hardfork?
    They can split the community, split the block chain, and reduces hash power until the fork is healed.

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#4239

1.The difference between a hard and soft fork : A soft fork makes previously valid blocks invalid, a hard fork makes previously invalid blocks valid.
2. Some reasons you would use a hard fork is, expanding the ruleset for consensus in a clear way.
3. Some risks when performing a hardfork are splitting the community and creating a new currency and splitting the hash power

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#4240

1.Hard forks make invalid blocks valid after the update and soft forks make valid blocks unvalid after an update.
2. Some of the reasons you would do a hard fork would be to increase the size of new blocks, expand the consensus and make a new currency.
3. Risks are it reduces the hash power can divide the community and weaken security.

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#4241

  1. What is the difference between a softfork and a hardfork?
    Soft forks make previously invalid transactions valid while Hardford do the opposite. Also, Soft Fork reduce the size of the block while hard fork increase size of block

  2. What are some of the reasons why you would do a hardfork?
    Disagreements within community and correcting important security risks found in older versions of the software, to add new functionality, or to reverse transactions. Expanding the rule set based on consensus

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

Splits community and chain. Reduces hash power which reduces security. Could potentially create a double spend problem

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#4242

Homework – Forks

What is the difference between a softfork and a hardfork?
A soft fork is a expanding update which can be fixed by the nodes even if there’s not updated ones.
A hard fork is a compromising update which makes 2 versions of the truth and means the blockchain will be split in 2 chains with the same start.

What are some of the reasons why you would do a hardfork?
If your goal is to make a second coin from the blockchain or if there has to be made a radical change to the protocol.

What are some of the risks with performing a hardfork?
Splitting the chain and having to make a second coin for the split part. Like bitcoin gold, bitcoin cash etc.

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#4243

a soft fork is a change to the software protocol where previously valid transaction blocks are made invalid.

#4244

What is the difference between a softfork and a hardfork?
=> Hard forks make previously invalid blocks valid.
Soft forks make previously valid blocks invalid.

What are some of the reasons why you would do a hardfork?
=> You need to implement a non-compatible change, you want to create a new currency with its own blockchain. The community is divided around a decision and each side will follow its own set of rules (with separate chains).

What are some of the risks with performing a hardfork?
=> Risk of double spend as old nodes will not recognize new blocks (and its transactions), Security risk as hashpower will drop. We need 100% of the nodes to update to avoid a split chain.

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#4245

  1. Soft forks makes previously valid blocks invalid while hard forks do the inverse

  2. It makes the update clear. If you don’t update you’ll be on a separate chain.

  3. Hard forks can decrease overall hash power of the network leading to lower security. It splits the chain, the community, and we get a new currency.

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#4246

  1. What is the difference between a soft fork and a hard fork?
    The difference between a soft fork and a hard fork can be described as an expansion or contraction of the rule set. Hard forks make previous invalid blocks valid (expansion), and soft forks make previously valid blocks invalid (contraction).

  2. What are some of the reasons why you would do a hard fork?
    A hard fork would be performed if there was a change in consensus, and a clear update needed to be implemented.

  3. What are some of the risks with performing a hard fork?
    Some of the risks associated with performing a hard fork are that, the chain will be split as well as the community. The split will also result in both a reduction in hash power and security because some miners will leave for the updated chain.

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#4247
  1. A hard fork makes previously invalid blocks valid, and a soft fork makes current valid blocks invalid.
  2. It’s clear and democratic. It would have to be something 100% of the community agreed on.
  3. You split the chain.
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#4248

  1. Hard Fork = making invalid blocks valid - Soft Fork = making valid blocks invalid

  2. Creating a new digital currency, independent from the mainnet. Due to 100% acceptance it is entirely democratic.

  3. Splitting the chain, means splitting the hash power, too. Miners are now operating on two different chains, which reduces the level of security. In addition, it would lead to a fragmentation of the community.

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#4249

  1. In hard fork blocks that were previously invalid become valid. The upgrade of the rules isn’t backward compatible, and the rules expand. The chain splits.
    The soft fork upgrade is backward compatible, which means that those nodes that were in the minority and didn’t upgrade will still be able to propagate their blocks but they would be rejected by the network. The upgrade happens gradually and the chain doesn’t split.

  2. To change the consensus of the rules.

  3. Hash power split decreases network security. An ideological war can begin between the communities and in turn, this confuses the new people that are interested in a particular blockchain that was split.

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#4250

1/Hardfork is used for going from 1mb to 2mb and will makes previously invalid blocks valid as this is used for an expansion of the rule set. Softforks is for going from 1mb and below and will make valid blocks invalid due to a contraction of the rule set.
2/ Change is required, generally for a change in consensus/rules or innovations which will make the network better. Managed in a clear and democratic manner
3/ The network could split with the community not agreeing on the changes resulting in split hash power and a less secure network and a split chain.

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#4251
  1. A hard fork is an expansion of the rules, and a soft fork is a contraction of the rules
  2. Because there is a change in consensus - for example: correcting security risks or adding new functionality
  3. the chain will become less secure initially because you lose hash power, the community may split, everyone may not agree with the update.
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#4252

1.Softforks are those that appear due to the contraction of the ruleset where previously valid blocks would be invalid.
Hardfork is the opposite.
2. it is clear and democratic
3. split chain and community

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#4253

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    Hard Forks expand the rule set making some previously invalid forks valid. Soft Forks contract the rule set making some previously valid forks invalid.

  2. What are some of the reasons why you would do a hardfork?
    If a portion of the community agreed that the rule set should change and others didn’t agree. It would create a new separate chain, but still recognize blocks that were mined prior to the fork.

  3. What are some of the risks with performing a hardfork?
    The community will be split. Also, hash power will split resulting in lower security.

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