Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#562

  1. The difference between a softfork and a hardfork: a softfork happens when an update of the consensus rules causes previously valid blocks to become invalid and hardforks are when previously invalid blocks are made valid.

  2. You would do a hardfork with an expansion of the rule set; when making the size of the bock increase for example.

  3. Some of the risks with performing a hardfork would be that it splits the chain, splits the community, and splits the hash power.

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#563
  1. Valid blocks are made invalid in a soft fork and vice versa for hard forks.
  2. Changes in consensus would attempt to direct network growth.
  3. Hash rate and security will be negatively affected.
#564

  • What is the difference between a softfork and a hardfork?
    A hard fork expands the rule set and includes previously invalid blocks into the chain. Hard forks lead to a split in the community which means a splitting of the hash power which can lessen the security of the network.
    A soft fork is a contraction of the rule set and excludes previously valid blocks from the chain

  • What are some of the reasons why you would do a hardfork?
    To change the consensus rules and in effect produce a new currency.

  • What are some of the risks with performing a hardfork?
    The main risk is the reduction of hash power caused by the splitting of the network, which increases the vulnerability of the network.

#565
  • What is the difference between a softfork and a hardfork?
    Hard forks are when a protocol is changed and all previous blocks that were invalid become valid and a new blockchain is formed. Soft fork is when a protocol is changed that previous blocks mined r now invalid but the blockchain continues.
  • What are some of the reasons why you would do a hard-fork?
    Change the size of blockchain or the amount of coins that can b mined.
  • What are some of the risks with performing a hardfork?
    Some of the community doesnā€™t want the change so they continue mining the old protocol and with less miners on a blockchain u decrease the security & decentralization of both blockchains.
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#566

  1. A Soft Fork makes a previously valid block invalid.
    A Hard Fork makes a previously invalid block valid.

  2. To increase the block size say from 1 MB to 2 MB.
    Carry out a clear update.
    Carry out a democratic update.

  3. Split the community.
    Hash power is split lowering the network security.

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#567
  1. :sun_with_face: :night_with_stars: Day and night. A hard fork is an expansion, it does make previously invalid blocks valid, while the soft fork is the other way around.
  2. To change the consensus rules
  3. Splitting the community, and the hash power so the network will be less secure.

ā€œBlack :coffee:, no :milk_glass:, no sugar involvedā€¦ā€

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#568
  1. What is the difference between a softfork and a hardfork?
    Soft fork is a subset of the existing rules. Hardfork is an expansion on of existing rules.
  2. What are some of the reasons why you would do a hardfork? To add an additional rule or to change the block size.
  3. What are some of the risks with performing a hardfork? Reduces the hashrate & its non-democratic people may not like it.
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#569
  1. A hardford/softfork is an expansion/contraction of the ruleset
  2. To have another currency, to have everyone agreeing on the ruleset and have a clear ruleset for the chain without confusions
  3. Thereā€™s a very high chance of splitting the chain thus creating another currency. This could in turn split the hash power between the two chains. Also, this could split capabilities in the community like developers or projects that would have to chose one or the other chain thus reducing the networking value of the chain.
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#570
  1. a hard fork is an expansion of the rules where a soft fork is a contraction of the rules.
  2. to expand a previously restrictive rule like block size. Also, possibly to create a new currency
  3. It reduces the hash power of the split chains making them potentially more vulnerable (as BCH is now). It also divides the community which could reduce support for one or both chains.
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#571

  1. Softfork updates make previously valid forks invalid and only require a majority validation to become effective. Hard fork updates make previously invalid forks become valid and require 100% validation, otherwise there is a split in the community and a new currency is created.

  2. If traffic were to increase on the blockchain, it would be a good idea to increase the size of each block to mitigate the fees required to make a transaction so that customers would still want to use the currency and miners would still make money mining it.

  3. Some of he risks with performing a hardfork are splitting the community and the currency, making it more volatile, and splitting the hash power, making the whole networks less secure.

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#572
  1. What is the difference between a soft fork and a hardfork?

Soft = 1 mb to .05, makes previous valid blocks invalid. backward compatible. NO chain split.
Hard= 1 mb to 2 mb, makes previous invalid blocks valid. backward incompatible. Chain splits.

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

Fix bugs. performance improvement (LOL Bcash)

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

losing trust in system, ā€œreplay attackā€, two separate coins.

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#573

  1. What is the difference between a softfork and a hardfork?
    hard fork expands the rule set, making previous invalid block to valid. soft fork contracts the rule set, making previous valid block to invalid.

  2. What are some of the reasons why you would do a hardfork?
    changed consensus or/and version of consensus

  3. What are some of the risks with performing a hardfork?
    split the chain and community, reduce security as well

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#574

  • What is the difference between a softfork and a hardfork?
    A hard fork expands the rules, a soft fork reduces the rules.

  • What are some of the reasons why you would do a hardfork?
    If you believe in larger block sizes to speed transaction time.

  • What are some of the risks with performing a hardfork?
    Not everyone will agree with the changes and you will end up with two currencies. It can also reduce security as the hash rate is now spit in two.

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#575
  1. a soft fork makes previous valid blocks invalid and a hard fork makes a previously invalid block valid.
    2.to create a new coin, to lower hashrate, to make mining easier
  2. losing security power and spiting community
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#576

  1. Simply put, a hard fork is the expansion of the current rule set while a soft fork is the contraction of it. Or in other words - a hard fork renders previously invalid blocks valid. The opposite is true for soft forks, where previously valid blocks become invalid.

  2. In the past some reasons for hard forks were

  • increase of block size
  • switch from PoW to PoS
  • plans to add smart contracts
  1. One big risk of hard forks is the split of the community as well as the resulting decrease of hash power in the network.
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#577
  • What is the difference between a softfork and a hardfork?
    A soft fork is an update that changes the rule set of the blockchain.
    In the case of a soft fork it makes previous valid blocks invalid.

A hard fork is an update that changes the rule set of the blockchain.
In the case of a hard fork it makes previous invalid blocks valid.

  • What are some of the reasons why you would do a hardfork?
    If you have a different vision for the use case or currency.
    If you have a different opinion about the way forward.
    If you would like to increase or decrease the data true put.
    If you want to expand the rule set.

  • What are some of the risks with performing a hardfork?
    Less security integrity.
    Two separate chains.
    Losing a part of the community

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#578

Softfork makes the previous valid transactions valid.
Hardfork makes the previous valid transactions invalid.
2.
To add futures that are not possible within the current rules.
3.
It could cause the community to split up with could reduce the hash power.

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#579
  1. Hard fork splits the chain
  2. Different view on the set of rules, democratic, clear to the community
  3. Hashrate cut in pieces so security is less
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#580

1- hard forks increase in the capacity of the block , exp 1 mb to 2 mb
Do invalid blocks valid
2- To encrese the size of the block or create a new currency
Expl Bitcoin cash
BSV
Bit coin Diamont
Bit coin Gold
3- Security as there is less miners validating the blocks

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#581

  1. The Hardfork block update valid previous invalid blocks and the Softfork update invalids previous valid blocks.

  2. To expand consensus rules.

  3. If not a 100% of network is updated at the same time, it will result in permanent split and new currency creation. In this case, community spits and total hash rate is distributed between those two currencies, resulting in less hash rate (security) for each currency.

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