Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4274

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

A softfork makes previous valid blocks invalid and a hardfork makes previous invalid blocks valid.

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

You would want to do a hard fork if you need to change the size of the blocks or make them faster or if majority of the community want a new blockchain.

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

Hardforks can bring great risk especially when splitting the hash power therefore less security on the network. Can also cause a lot of confusion and split communities to create multiple blockchains

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#4275

  1. What is the difference between a softfork and a hardfork?
    Hardforks are when there’s an expansion of the consensus rule set so that previous invalid blocks are now valid blocks. Softforks happen when there’s a contraction of the consensus rule set so that previously valid blocks are now invalid.

  2. What are some of the reasons why you would do a hardfork?
    It provides a clear and democratic update of consensus rules.

  3. What are some of the risks with performing a hardfork?
    A hard fork splits the blockchain, community, and the hash power making the network less secure.

1 Like
#4276

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

Softforks decrease block size and do not split the chain. Previous blocks are still valid.

Harforks increase block size, and split the chain. Previous blocks are invalid, and hard forks lead to the creation of a new chain.

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

Hardforks provide a clear, arguably more democratic option than a softfork. The previous chain also remains for those that don’t want to opt-in to the hardfork.

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

Hash and validation power can be reduced and the chain and community will be split.

1 Like
#4277

  1. hardfork could split chain, make big changes. Softfork makes little changes in protocol, example change block size from 1 MB to 0,5 MB.

  2. More democratic, clear upgrade.

  3. Splits in two chains

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#4278
  1. soft fork makes valid blocks invalid, hardfork makes invalid blocks valid
    2.increase size of blocks
    3.creating new chain, split communities
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#4279

1 a soft F is more passive and needs only the majority to be accepted where a hard F needs a 100% of the miner to be accepted to avoid the fork, otherwise the community will split

2 wanting to modify the code and rules of a blockchain, block size being often referred too

3 split of a community, loss of hash power, because divided between 2 chain

1 Like
#4280

  1. blocksize, changes in ruleset, contraction or expansion, future blocks valid or invalid

  2. to make blocksize bigger, to expand the ruleset

  3. splits community, chain and hashpower

1 Like
#4281
  1. What is the difference between a softfork and a hardfork?

A hardfork makes previously invalid blocks valid. A softfork makes previously valid blocks invalid.

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

Some reasons to do this are: to reverse transactions, add new functionality, and improve security.

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

One reason is that the newly formed chain is not compatible with the block. This results in two ledgers and two chains with the additional risk of double spending. Total hash power is split, making the network less secure. There also is the risk of community splitting.

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#4282

1.)HF previously invalid blocks -> valid; SF previously valid blocks -> invalid.
2.) it makes rules more expansive so more democratic and clear
3.) it splits the chain, community and hash power split.

1 Like
#4283

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    Soft Fork-Previous valid blocks invalid.
    Hard Fork- Makes invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork?
    Change/Improve Rules of the blockchain.

  3. What are some of the risks with performing a hardfork?
    It will split the integrity and strength of participation in the blockchain as a whole.

1 Like
#4284

  1. Soft forks do not split the chain while hard forks split the chain. Soft forks reduce the rules for valid blocks while hard forks expand the rules for valid blocks.

  2. To perform a clear upgrade through a democratic process of providing an update. Fixes protocol bugs and overall performance improvements

3.Splitting into two coins and ultimately degrading the trust in the token.

1 Like
#4285
  1. A hardfork splits the chain while a softfork doesnt. A hardfork makes previously invalid blocks valid and a soft fork vice versa.
  2. If you want a clear update and to change the consensus rules.
  3. Less secure network, lower hashpower and a split community.
1 Like
#4286
  1. What is the difference between a softfork and a hardfork?
    In a hardfork you have previously invalid blocks that become valid, while in a soft fork you have valid blocks that become unvalid.
  2. What are some of the reasons why you would do a hardfork?
    If you want the fork to be clearer and democatric, as well as have a balanced hash power split.
  3. What are some of the risks with performing a hardfork?
    It penalizes security because you are splitting the hash power rate as well as the communications.
1 Like
#4287

  1. A soft fork makes a previously valid block invalid. A hard fork makes a previously invalid block valid.

  2. You would do a hard fork when you need to change the consensus on the network, hard forks are seen as more democratic. You would do a hard fork to expand the rules of the blockchain.

  3. It splits the hash power. It almost always splits the chain so miners and nodes working on two chains instead of one. Less miners on a chain means less security.

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#4288

  1. The difference between a softork and a hardfork is that in a softwork the previously invalid blocks become valid, while in softworks the previously valid blocks become invalid.

  2. A hardfork might occur when it’s decided by the majority of nodes that the new set of rules is valid, and when it’s clear that the new update is cleary better than the older version.

  3. the main risk is split power and split communities

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#4289

  1. A hard fork is an expansion of the consensus rules that makes previously invalid blocks valid, A soft fork is a contraction of the consensus rules that makes previously valid blocks invalid.

  2. If there is an idea that someone thinks would improve upon the current consensus algorithm, they may introduce an update that leads to a hard fork.

  3. A risk of performing a hard fork is that you could split the community, leading to splitting hash power and reducing network security.

1 Like
#4290

  1. Softfork - makes previous valid blocks invalid
    Hardfork - makes previous invalid blocks valid

  2. Increasing the block size so more Transactions can fit into 1 block

  3. You will split the chain, and the community, and you might end up with a new currency, and the haspower could drop drastically if the Miners are split

1 Like
#4291
  1. What is the difference between a soft fork and a hard fork?

Answer: by definition hard fork makes previously invalid blocks valid, while soft fork makes valid blocks invalid. Therefore, hard forks split the blockchain by creating a new blockchain (e.g. Bitcoin Cash), new cryptocurrency and a new community (supporting new rules), while there is no split in soft forks (e.g. SegWit)

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

Forks are the way to keep the blockchain technology innovative and up-to-date. Sometimes in order to implement new features and functionality hard forks might be the only possible solution.

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

When you perform a hard fork you are splitting the blockchain into two: the one running on old rules and the new blockchain with updated rules. By splitting the blockchain, you are also splitting the hash power making both blockchains less secure.

1 Like
#4292

Homework on Soft and Hard Forks:

  1. A softfork is an update that no longer accepts blocks that were once valid (contraction). Whereas, a hardfork is an update that accepts blocks that were once invalid (expansaion).

  2. Hardfork updates occur in order to implement new elements that would be restricted within the current set of rules.

  3. The risks of preforming a hardfork update include, splitting of the chain, community, and hash power. All of these reactions reduce security and impact the functionality of the network.

2 Likes
#4293
  1. Hardforks make previously invalid blocks valid and soft forks do the opposite version of that.
  2. Community may decide on an update that changes the consensus mechanism and that may cause a hard fork.
  3. It may reduce the security by reducing hash power.
1 Like