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A soft fork makes previously valid blocks invalid. A contraction of the rule set. A Hard fork makes previously invalid blocks valid. An expansion of the rule set.
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You believe there should be a change in the rule set. A new consensus is born.
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This would split the chain and the community. This could reduce the security.
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- A soft fork is when the update makes previously valid blocks invalid, meanwhile a hardfork is when the update makes previously invalid blocks valid.
- AA change in the consensus, new currency…
- The chain, hash power and the community will be split in two, which is a huge negativity because the whole blockchain will be way less secure.
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Homework on Soft and Hard Forks - Questions
- What is the difference between a softfork and a hardfork?
- What are some of the reasons why you would do a hardfork?
- What are some of the risks with performing a hardfork?
1- The ability to make valid blocks now invalid (softfork) and vice versa
with hardfork.
2- A hardfork could be done by the following reasons:
~ To expand the consensus rules
~ To make the following transactions incompatible
with the consensus rules
~ So new trnsactions have place in a separated
blockchain
~ To express a new vision of the true in your own
blockchain
~ To create your own coin.
~ Split the Hashing Power from the principal
blockchain
~ Split the community in different ideals
~ To increase the number of transactions per
block increasing the block size
~ Implement new Scripts or formats
~ Make changes that are impossible to make
compatible with previous versions
3- There is a risk of having less security in the system by dividing the hashing power, having a community divided in it’s ideals, creating uncertainty in the fair prices of each of the currencies or all of them.
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Tarea sobre softforks y hardk forks - Preguntas
- Cuál es la diferencia entre un softfork y un hardfork?
- Cuales son algunas de las razones por las que harías un hardfork?
- Cuales son algunos de los riesgos en desarrollar un hardfork?
1- La habilidad para hacer bloques validos ahora bloques inválidos (softfork) y viceversa para hardfork.
2- Un hardfork se podría llevar a cabo por los siguientes motivos:
~ Para expandir las reglas en la red.
~ Hacer que las siguientes transacciones sean incompatibles con el
conjunto de reglas pre-establecidas.
~ Que las nuevas transacciones tengan lugar en una cadena
separada.
~ Imponer una nueva visión de la verdad en su versión separa de su
propia cadena de bloques.
~ Crear una nueva moneda.
~ Tomar para otra cadena el poder minado, hashing power,
dividiendolo de la cadena principal.
~ Reducir la seguridad del sistema.
~ Separar la comunidad en distintos ideales.
~ Para aumentar el número de transacciones aumentando el tamaño
del bloque o implementar nuevos tipos de Scripts o formatos que no
eran aceptados previamente.
~ Cuando hay cambios que son imposibles de hacer compatibles con
versiones anteriores.
3- Se corre el riesgo de tener menos seguridad en el sistema al dividir el poder de hashing, de tener una comunidad divida en sus ideales, crea incertidumbre en los precios justos de cada una de las monedas.
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Softfork is compatible with previous blocks and hardfork is not.
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Make improvements go a different direction.
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Split chain which reduces the number of miners in turn lowering security.
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- Hard fork make previous invalid blocks valid while soft fork make previous valid block invalid. requires all of the miners to update in order to prevent creating to different blockchans.
- To create a new blockchain based on a existing blockchain history or to make
- Since the block from the soft fork are valid in the previous consensus, it only requires the majority of the miners to updated in order update block generated from the soft folk to become the longest blockchain . In a hard fork , the block from the updated consensus will be rejected in the mines that did not update, splinting the original blockchan into to two.
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1. What is the difference between a softfork and a hardfork?
Hard forks increase the capacity of a block, and soft forks reduce the capacity of a block. Hard fork splits the chain, while soft does not. Hard forks are expansions of the rule set, while soft forks are contactions.
2. What are some of the reasons why you would do a hardfork?
Some reasons you may hard fork:
- Increase the block size
- Difference in opinion
- Move to a new coin
- Moving from proof of work to proof of stake
3. What are some of the risks with performing a hardfork?
The community could split, causing discord and lost faith - example Hive/Steem. Separating the chains. Reduced security.
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1.-
The hard fork is when a change of rules makes those blocks that on the previous set of rules are invalid not valid. The new set of rules are now more permissive… but there is a risk of that not all the community accept that and therefore it can be split.
The soft fork makes the rules more restrictive, provoking that blocks that before were perfectly fine, now are invalid. On this scenario the blockchain will auto regulate as always by taking the longest chain as valid.
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If there is no consensus about the rules applied to the validation of blocks.
There will be always different opinions and tendencies.
If some proposal of a new rule convinces half of the community and it arises as one that need to be implemented for some reason, but the other half is not convinced, the situation will surely result in a hard fork.
3.-
If the community splits it implies that now there are less miners , making the network less secure.
Now the hash power is also splitted.
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- What is the difference between a softfork and a hardfork?
Expansion depicts hard fork which makes previous invalid blocks as valid and Contraction depicts nature of soft fork where valid blocks are now invalid. - What are some of the reasons why you would do a hardfork?
Its very democratic, gives opportunity to majority of blocks in the bitcoin network to reset it and perform according to new rules. - What are some of the risks with performing a hardfork? Community spits up because if less hash power is observed then miners would prefer new currency creation for their group of people/community. This leads to less secure network.
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What is the difference between a softfork and a hardfork?
hard fork update is an expansion of the rule set and previous invalid blocks are valid where a soft fork is a contraction of the rule set and valid blocks are now invalid -
What are some of the reasons why you would do a hardfork?
if consensus needed to be changed. -
What are some of the risks with performing a hardfork?hash power and a less secure network and a split chain
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- An hard fork makes previously invalid blocks valid. A soft fork makes previously valid blocks invalid.
- It is clear and democratic. For someone, a new currency could be an advantage.
- A split of chain and community; a split of hash-power means less security in the network.
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Homework on Soft and Hard Forks - Questions
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What is the difference between a softfork and a hardfork?
-Softfork is an update which makes previously valid blocks invalid.
-Hardfork is an update which makes previously invalid blocks valid. -
What are some of the reasons why you would do a hardfork?
-For the expansion of the rule set -
What are some of the risks with performing a hardfork?
-Chain split
-Split of the community
-Divided miners
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- What is the difference between a softfork and a hardfork?
A soft fork makes previously valid blocks invalid, a hard fork makes previously invalid blocks valid.
- What are some of the reasons why you would do a hardfork?
If you need to completely change the consensus rules for block creation or add functionality.
- What are some of the risks with performing a hardfork?
You risk having nodes and miners purposefully or unintentionally not updating to the newest version of the protocol.
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- HF makes invalid blocks valid & SF makes prev. valid block invalid.
- changing the consensus and upgrading development/visions
- As not everyone wants the update we create a split chain which does not benefit the security of the network.
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1* Soft forks makes previously valid blocks invalid and hard forks makes invalid blocks valid.
2* A change inn consensus
3* A chainsplit a community split and a new currency
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Soft fork is the software update that is compatible with previous earlier versions. Hard fork is a software update that isn’t backwards compatible.
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The miners in a blockchain set the rules that move the memory in the network, these miners understand the new rules. The consensus need to be changed by all.
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The risk of reduction of Hash power which means the network is less secure. Than you can have split chain, split community or new currency possible .
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- A soft fork is normally as a result of a network rule contraction and only requires 51 percent of the network has to ensure that all nodes eventually comply. A Hard Fork result as a result of a rule expansion beyond the scope of the current consensus for the network and will split the blockchain into two.
- To accommodate new rules or scope of protocols beyond that currently existing specification
- Splits the community, splits the hash power and therefore potentially the security of the network
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a softfork limits the amount of blocks that would be confirmed while a hardfork will increase the amount of blocks that would be confirmed
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it is clear if you don’t update you will be on a different chain, and it’s democratic.
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there is a split in the chain as well as the community
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Glenn_CostaRica
1. What is the difference between a softfork and a hardfork?
A hardfork consists of a change in the consensus rules that makes previously invalid blocks valid, in a way that will tend to generate two permanent new chains. A softfork does not add new types of blocks, but instead implements restrictions on blocks that have been valid so far; in a way that, after the fork, all the nodes of the network admit the new blocks, even nodes that have not updated their system with the new rules. Eventually, by the longer-chain-rule, if a majority of nodes adheres to the new rule, the new rules will prevail. In hardforks, in each chain every node must agree in order to participate. In softfork, you don’t have to agree, but eventually you will be forced to agree.
2. What are some of the reasons why you would do a hardfork?
When a community – or a portion of a community – feels that they need to have an expansion on the consensus rules, since they feel that the present rules are not fair or that they cannot keep adhering to then; then, they can choose the option of forking the chain and forming a new community with people who think in the same way and want to interact with the new set of rules. For these people interested in the change, they would feel the hardfork offers to them a higher level of democratic participation.
2. What are some of the risks with performing a hardfork?
Contentious processes can lead the community to split and lose power as a whole. The condition after the fork will be weaker for each new chain. Each chain will have less nodes to keep security, less hash power and less community support.
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- What is the difference between a softfork and a hardfork?
A softfork is the contraction of the rules in the network, making blocks that were valid, invalid. A hardfork is the expansion of the rules within the network, making blocks that were invalid, valid.
- What are some of the reasons why you would do a hardfork?
Some reasons to do a hardfork would be;
Increasing blocksizes for scalability of the network.
Creating new currencies on a different chain in the network.
Upgrading network software (e.g Ethereum Byzantium Hard Fork).
- What are some of the risks with performing a hardfork?
Some risks of Hardforks are;
Dividing the community.
Splitting Hash power within the network.
Reducing the security of the network due to the lost hash power.
There can be risks of scam coins coming from a hardfork.
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omework on Soft and Hard Forks - Questions
- What is the difference between a softfork and a hardfork? A hard fork is an expansion of the rules allowing previous invalid blocks to now be valid. Soft forks are a contraction of the rules and take away valid blocks and makes them now invalid.
- What are some of the reasons why you would do a hardfork? When the community can not agree on the direction of the blockchain - like when BCH was created wanting a bigger block size.
- What are some of the risks with performing a hardfork? When you hard fork the network computing power now is split up on two chains so the hash power decreases. This makes a less secure network for both chains which could be a risk for a 51% attack.
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