Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#4374
  1. What is the difference between a softfork and a hardfork?
  • HF update is a chain split where the previous invalid blocks are valid. A SF is a contraction of the chain and valid blocks are now invalid
  1. What are some of the reasons why you would do a hardfork?
  • A change in consensus and protocols
  1. What are some of the risks with performing a hardfork?
  • It’s terrible for security due to the hash power splitting and subsequently making the target easier to derive over more chains
1 Like
#4375

1. What is the difference between a softfork and a hardfork?
Expansion/contraction of ruleset
a. HF: Previous invalid blocks become valid?** Expansion
b. SF: Previous valid blocks become invalid?** Contraction

2. What are some of the reasons why you would do a hardfork?
One group of Developers(A) do not agree with software update/direction of current blockchain so Group(A) decide to create a new blockchain from the original blockchain. Ex(Bitcoin vs BitcoinCash)

3. What are some of the risks with performing a hardfork?
a. Split chain
b. Split community
c.Hash Power split(miners would be leaving chain)

#4376

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    A soft fork is one that can be optionally applied by miners, while a hard fork has rules
    that would make blocks invalid, using the old software.

  2. What are some of the reasons why you would do a hardfork?
    To make changes that cannot be accomplished within the scope of the existing protocol of the chain.

  3. What are some of the risks with performing a hardfork?
    Hard forks result in a split chain. This divides the computing power of the miners between the two
    chains. This makes it easier for a 51% attack to occur. Bigger risk is losing “Network Effect”.

#4377

  1. A soft fork introduces changes that are compatible with the existing network and allows for backward compatibility, while a hard fork introduces changes that are not compatible and results in a split of the network into two separate chains. Soft forks are considered less disruptive and are often used for protocol upgrades, while hard forks are more substantial and can lead to network divergence.

  2. A hard fork might be carried out for several reasons including protocol changes, scalability, disagreement within the community about the direction of the project, among others.

  3. Hard forks can lead to a full chain split, community fragmentation, and require close monitoring to ensure a smooth transition.

1 Like
#4378
  1. A soft fork makes previously valid blocks invalid, while a hard fork makes previously invalid blocks valid. A hard fork in an expansion of the ruleset, while a soft fork is a contraction of it.
  2. A hard fork happens when there is a change in consensus and an update is required to expand the ruleset.
  3. A hard fork can split the chain, thus splitting the community and the hash power, which results in a less secure network.
1 Like
#4379
  1. Softfork allows gradual upgrade of miners and avoids a chain split. 2) 2) Not all upgrades are possible with a softfork. For example a block size increase is only possible with a hardfork. Another advantage is that the change is immediate and not over time.
  2. The chain can split into two effectively creating a new coin. This also splits the community.
1 Like
#4380

With a soft fork you make previously valid blocks invalid resulting in a contraction of the network whereas with a hard fork you make previously invalid blocks valid resulting in an expansion of the network,

Hard Forks are done when a change in the consensus rules needs to be addressed.

Risks involved in performing Hard Forks include a reduction in hash power, a split in the blockchain and community and a new currency is produced.

1 Like
#4381

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

  2. What are some of the reasons why you would do a hardfork?
    Clear and democratic update.
    It could add functionality to the network.
    A change of consensus.

  3. What are some of the risks with performing a hardfork?
    Security risks
    splitting of hashpower
    creates a new currency and splits community

#4382

What is the difference between a softfork and a hardfork?
Hard forks make presiosly invalid blocks valid = increasing rulest = split of chain = new currency/community. On the other hand soft forks make valid blocks invalid (staying in the same set of rules). Therefore softfork can more easy agreed on.

What are some of the reasons why you would do a hardfork?
It is a clear rule-set “regarding” a new blockchain = democratic

What are some of the risks with performing a hardfork?
A split of a community and a new blockchain might cause a beeing not beeing recognized anymore (community too small and the blockchain is too similar to the original blockchain = no added value).

#4383
  1. What is the difference between a softfork and a hardfork?
    A soft fork makes a previously valid block invalid. it is a contraction of the rule set
    A hard fork makes a previously invalid block valid. it is an expansion of the rule set.
  2. What are some of the reasons why you would do a hardfork?
    Fix protocol issues and add features to a protocole.
  3. What are some of the risks with performing a hardfork?
    split the community
    reduce security by dividing the hashrate
#4385

  1. A soft fork is an update that makes previously valid blocks invalid. A hard fork update is when previously invalid blocks become valid. In soft forks all nodes are not require to update.

  2. There could be numerous reasons for a hard fork. A change in consensus for example improving security, or increasing a block size. Also you will need 100% of the network to update.

  3. When a hard fork happens some risk are, chain splitting, hash power is split reducing security and communities are split as well.

#4386
  • A Hardfork increases the block size in bytes which leads to previously invalid blocks becoming valid
  • Reasons -
    - Update to a new currency
    - Accomodate larger transactions
  • Risks -
    - Security risk in moving to a new currency
    - Splits the chain
    - Splits the community
1 Like
#4387
  • A Hardfork increases the block size in bytes which leads to previously invalid blocks becoming valid
  • Reasons -
    - Update to a new currency
    - Accomodate larger transactions
  • Risks -
    - Security risk in moving to a new currency
    - Splits the chain
    - Splits the community
#4388

  1. An hardfork is adding an other chain / so splitchain and a softfork is an update that does not need to split the chain

  2. to increase the size of the block

  3. Hashrate going down, security problems, community split

#4389 
1. What is the difference between a softfork and a hardfork?
A hardfork starts a new chain. A softfork can changes the rules without starting a new chain. You 
    want ot start a new currency.
2. What are some of the reasons why you would do a hardfork?
It is a clear that you want to start a new chain with different rules. This keep the confusion 
    between communities from happening.
3. What are some of the risks with performing a hardfork? 
    You can split the community. You can split miners and reduce security. Spit the chain.
#4390

  1. What is the difference between a soft fork and a hard fork?
    A hard fork occurs when the update expands the rules of the network, making previously invalid blocks valid. A hard fork will occur if 100% of the nodes do not accept the update. In contrast, a soft fork occurs when an update constrains the rules of the network, making previously valid blocks invalid. If more than 50% of the nodes accept the update, they will have the majority of the hash rate, mine blocks faster, and the chain remains unchanged. However, if less than 50% accept the update, they will have a minority of the hash rate, meaning the original chain will produce blocks faster, causing a fork.

  2. What are some of the reasons why you would do a hard fork?
    There are important reasons for updating a network that would lead to a hard fork. These reasons include updating the consensus mechanism, increasing the block size limit, fixing security vulnerabilities, and even reversing transactions (in the case of hacks and exploits).

  3. What are some of the risks of performing a hard fork?
    Some risks of a hard fork include splitting the chain, splitting the community and splitting the hash rate. The formation of a new currency may be considered a risk as it takes at least some focus away from the original currency.

1 Like