Homework on Soft and Hard Forks - Questions

[kenny_escobar]

1. What is the difference between a softfork and a hardfork?
   A// A soft fork is the one who pass valid block to invalid for example 1mB block to 0,5mB blockand the hard fork is the one who pass invalid block to valid block for example 1mB to 2mB block.

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

A// because its a clear update , take into account all the nodes and is a democratic update.

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

A// The risk of performing a hard fork are that it will split the chain , split the community and create a new currency.

[Coinduke]

1. A hard fork is a protocol update that makes previously invalid blocks valid (rules are expanded). Since it requires 100% of the network applying this type of update to avoid a fork, a chain split is highly likely. A soft fork is a protocol update that makes previously valid blocks invalid (rules are tightened). If >50% of the network (hash power) applies the new rules it will eventually lead to no fork, as majority of miners (with the help of the minority, coincidentally) will establish the longer chain. Miners are encouraged to update since they otherwise face a competitive disadvantage when mining based on a previous block thay may be invalid with latest rules so it will become orphan soon, sacrificed to the longest chain.
2. Whereas some soft forks can lead to confusion depending on the changes, a hard fork typically is a clear update and option for miners to make their choice which chain they want to support moving forward, as they will be able to contribute based on the familiar rules and not having to adapt to new rules enforced by a majority (which may or not be considered more democratic). Also, a hard fork is the preferred option if it is clearly intended to create a new blockchain with a new coin.
3. A hard fork splits the chain once and for all, which splits the miners and the community. Even if overall hash power stays the same (which is not guaranteed as some disappointed miners may leave either chain), the hash power for each chain is lower than before, so actually less security for both chains.

[ChadSmith]

Homework on Soft and Hard Forks - Questions

1. What is the difference between a softfork and a hardfork?
   A: A softfork makes previously valid transaction invalid, where as the hardfork does the complete opposite but making previously invalid transactions valid.
2. What are some of the reasons why you would do a hardfork?
   A: If you needed to change or updated the consensus rules.
3. What are some of the risks with performing a hardfork?
   A: You would reduce the hash power whilst also creating a split with the community.

[RagingLlama]

1. A hardfork is an expansionary change to the current rules of the blockchain and give the option to have different and split chains. A softfork is a update to the rules of the blockchain that is more restrictive and therefore nodes that are update with new software will always produce blocks that are within the previous rules.

2. Some of the reasons to perform a hardfork is to preserve the path of two different chains with different rules. The other reason is that there is a need for expansion to the consensus rules.

3. Some of the risks of performing a hardfork is that there are potentially security risks because there may be less nodes on the network due to the splitting of node groups due to the fork.

[gvent]

1. They create opposite changes. Hard forks expand the definition of valid blocks (loosens the rules) whereas soft forks narrow it (hardens the rules).

2. To avoid confusion that can result from new protocols running on old nodes that they cannot clearly understand. Such confusion can lead to issues with appropriate block validation => security. Another (somewhat related) reason is for nodes to have a clear-cut departure from the old protocol or a clear-cut onboarding of the new protocol.

3. Splitting the chain and the community. As a result, computing power is also split, weakening the overall security of the new networks.

[teddyrockwell]

1. A soft fork is an update that makes previously valid blocks invalid, while hard forks are updates that make previously invalid blocks valid.
2. You may do a hard fork in order to update the network and allow community members to decide whether or not they want to adhere to the new consensus rules or not.
3. The biggest risk for a hard fork is that the chain will be split unless 100% of the nodes are updated, which extremely unlikely. The hash power/security from the chain being split is also a big risk.

[empty_nutella]

1. a soft fork constricts the rules while a hard fork expands on them.

2. major changes or when the chain wants to split into different chains.

3. losing hash power and discourse within the community.

[Maya]

*1. What is the difference between a soft fork and a hard fork? *
A soft fork changes the rule set to make previously valid blocks invalid. A soft fork only happens if less than 50% of the nodes update (please correct me if I am wrong).
A hard fork changes the rule set to make previously invalid blocks valid. If the entire network does not update (even 99% of nodes), there will be a fork and a resulting new currency.

2. What are some of the reasons that you would do a hard fork?
A reason for doing a hard fork would be to establish a new currency.

3. What are some of the risks with performing a hard fork?
Potential risks of performing a hard fork are splitting of the community and reducing security (because hash power is also split).

[MarBlockchain]

1. Contraction/ Expansion of the set rules or valid or invalid Blocks on the blockchain.
   The different is based of the new set of the consensus rules, if the rules ends in a expansion then it is a Hard Fork, if the Rules ends in a Contraction then it is a Soft fork.

2. to Update the rules in a new chain with clearer rules and more democratic, it means that if you don´t want to be in the new chain you can leave to the other chain.
   e.g. bitcoin vs bitcoin cash
   if you update is because you want to be in one chain, or if you don´t you will reamin in the other one.

3. You split the chain ,a also the community so that, the hash power split and this is less power, so the chain is weaker in power that means a risk in security. As more power, more Pow, more security.

[TopNomad]

1. What is the difference between a softfork and a hardfork?
   Softfork makes valid blocks to invalid & Hardfork makes invalid blocks to valid.

2. What are some of the reasons why you would do a hardfork?
   Network expansion & Consensus changes.

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

[vladg]

1. The Soft Fork makes previous blocks that were valid, invalid. The hard fork, makes previously invalid blocks, valid
2. Democratic approach. This will allow other currencies to be created - like bitcash etc.
3. the community will be split and the hashing power will be distributed to 2 resulting chains.

[RealWebUser]

1.) What is the difference between a softfork and a hardfork?
Forking creates 2 different coins. Adds New features & functionalities on blockchain network. Changes decided by Devs, Miners, or users.

Hard forks (rigid)

• Expands the rules
• uses entirely different protocol from original
• duplicate of “old” chain onto “new”/updated chain
• may acquire (1:1) coins on new blockchain.
• incompatible with former blockchain.
• previously invalid blocks become valid on “new” chain.
• transaction history are made visible, until official forking date.
  ETH—> ETC. BTC—> BCH

Soft fork (flexible)

• tightens the rules. Limited. New changes cannot conflict with old rules.
• uses same protocol/chain with different features.
• really no “split” in the network.
• stays backwards compatible on same chain.
• previously valid blocks become invalid due to new rule set.

2. You would assume a hard fork when a disagreement on original protocol has been noted. An update may be required to the protocol because

• there’s an error in original code.
• the team has a split vision on roadmap.
• the community decides for additional features.
• we need a democratic consensus.

3. Some risks occur during a Hard Fork.

• split in community.
• asset price volatility.
• miners abandoning a project.
• decreased hash rate
• decreased security

[Diego_Aguirre]

1. What is the difference between a softfork and a hardfork?
   • Hard forks make previously invalid blocks valid and soft forks make previously valid blocks invalid. Another way to look at it is Hard Forks are an expansion of the rule set while Soft Forks are a contraction of the rule set.
2. What are some of the reasons why you would do a hardfork?
   • If we want to expand the rule set a Hard Fork is the way to go.
3. What are some of the risks with performing a hardfork?
   • A couple of the risks are it’s splits the original chain, additionally it split the community and the hash power is split reducing it’s security

[bniel19]

1. The difference between a soft and hard fork is that a hard fork makes previously invalid blocks valid and a soft fork does the opposite by making previously valid blocks invalid.

2. Reasons for a hard fork would be a big upgrade/ update to the network such as Cardano is doing with the Vasil Hardfork to improve development of smart contracts on the chain.

3. Risk would be bugs in the fork or delays to the network.

[MrGunnar]

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

A: The difference between a softfork and a hardfork mainly lies within the rules that are being updated, whether its an expansion or a contraction of the consensus rule set, and whether it splits the chain or not
A soft fork is a contraction of the rule set, it does not split the chain & it’s making previously valid blocks invalid. A soft fork is preferred by the community as it only requires 50% of the hash power to avoid a fork in the chain, and avoiding a fork in the chain reduces financial loss for miners on invalid/stale blocks. A soft fork is a more non-democratic method of updating & can cause general confusion.

A hard fork is an expansion of the rule set, it splits the chain but provides a clear & democratic update. A hard fork makes previously invalid blocks, valid & isn’t generally miners favourite update as it causes a fork in the chain and leads to stale blocks (which means wasted power). In order for the fork to be fixed, you need 100% of the hash power to be up to date on the new rule set.

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

A: To perform a clear and precise update, fix bugs in the network, increase block size, creation of new tokens and software, reverse transactions, fix security issues.

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

A: Decreasing security until all nodes are updated. Splitting the community as it increases miners production costs with no reward from mining stale blocks. Splitting the coins, and having to transfer signed tx’s from one chain to the other.

[jdiggs1026]

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

A hard fork makes previously invalid block valid.

A soft fork makes previously valid blocks invalid.

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

Increase block size

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

Split the chain, the community and the hash power.

[Alexander_Hernandez]

1. What is the difference between a softfork and a hardfork?
   The difference between a hardfork and softfork is a split between community and code. Adjusting or hard forking is changing the code and updating the rules of the network. Hard forks make previously invalid blocks valid. On the other hand, softforks make previously valid blocks invalid. Softforks typically keep one chain, while hardforks will split the chains.

2. What are some of the reasons why you would do a hardfork?
   If there is a difference of opinion in the community a hardfork offers a way to make an already great blockchain even better. People who think the code is perfect the way it is will be against any adjustments to the code. This is why the community has bitcoin maximalist and people who believe in different alt coins. Luckily, these are different projects and different codes.

3. What are some of the risks with performing a hardfork?
   Some of the risks to performing a hardfork is splitting the chain, splitting the community, and the decrease in hash power of the network.

[Andre_TWI]

1. What is the difference between a softfork and a hardfork?
   A. Hard Forks are updates that makes previously invalid blocks valid. While soft Forks makes valid blocks invalid

2. What are some of the reasons why you would do a hardfork?
   A. There is a clear update. Also there is a democratic update.

3. What are some of the risks with performing a hardfork?
   A. It will split the community. Another risk it can create a new currency (which is not all bad). One of the major risk is hash power split.

[Nia]

1. What is the difference between a softfork and a hardfork?
A softfork makes previously mined blocks invalid, a hardfork makes previously rejected block valid.
2. What are some of the reasons why you would do a hardfork?
To implement a change to the concensus rules.
3. What are some of the risks with performing a hardfork?
Community gets split, which can also increase the security risk, it can also lead to the creation of a new currency.

[dlcarter]

1. Hard forks are when updates make previously invalid blocks valid. Soft forks are when updates make previously valid blocks invalid.

2. Hard forks are considered Democratic and you can also have clear upgrades.

3. The chain will be divided basically creating a new currency.