Homework on Soft and Hard Forks - Questions

[Safari]

1. A hard fork makes previously invalid blocks valid, while a soft form makes previously valid blocks invalid.

2. A hard fork would take place to obtain a system update based on consensus

3. Risks with performing a hard fork is splitting the chain and creating a new currency as well as splitting the community

[Simo]

1. A hard fork is an expansion of the rule set where blocks that may have otherwise been invalid and now valid.
   A soft fork is a contraction of the rule set where blocks that may have otherwise been valid are now invalid.

2. Reasons for a hard fork include:

   • If you didn’t agree with the consensus rules of the currency.
   • If you wanted to create a new currency.

3. The risks include:

   • Splitting the community.
   • Less hash power and so a less secure network.

[arod773]

Q1: A soft/hard fork rewrites the rules of the blockchain and makes previous valid blocks invalid and the hard fork makes previous invalid blocks valid.

Q2: this ensures that 100% of the network updates and is running on the current rule set which helps with unity and keeping a democratic environment
Q3: A security decrease is possible because hashpower would be split as well as the community

[Namefake]

1. With a hardfork previously invalid blocks become valid. With a softfork previously valid blocks become invalid.

2. 1. democratic approach,

2. clear update —> if don‘t update you are on the previous chain
3. new additional coin

3.) Split in the chain and community, reduced hashpower,

[IamBoch_Kenn]

1. A hard fork update is an expansion of the rule set that makes previous invalid blocks valid whilst a soft fork is a contraction of the rule set and that makes previous valid blocks invalid.

2. A hard fork would be done if consensus rules needed to be changed.

3. The risks are:
   Split hash power / less secure network and community split.

[ybernaerts]

1. A soft fork contracts the consensus rules of nodes in the network. It makes previously valid blocks invalid. A hard fork expands the consensus rules of nodes in the network. It makes previously invalid blocks valid.
2. It’s democratic, a clear update. It can create a new currency.
3. Old nodes are possibly accepting new blocks without understanding them, i.e. without understanding the update to the consensus.

[Fabiana]

1. What is the difference between a softfork and a hardfork?
   An hardfork is an update that makes previously invalid blocks to be valid and it is an expansion of the rule; a softfork makes previously valid blocks invalid and it is a contraction of the rule set.

2. What are some of the reasons why you would do a hard fork?
   An hardfork provides a clear update and a change is consensus.

3. What are some of the risks with performing a hard fork?
   An hardfork splits the chain and splits the community. Additionally, it creates a new currency (this last one can be considered also a pros).

[jguida1]

1. What is the difference between a softfork and a hardfork?
   -SF: makes previously valid blocks invalid
   -HF: makes previously invalid blocks valid
2. What are some of the reasons why you would do a hardfork?
   -make a material change to the software that would cause previously invalid blocks to be valid
3. What are some of the risks with performing a hardfork?

• Splitting community/ consensus

[petr]

1. Hard fork is update that makes previously invalid blocks valid.
   Soft fork is update that makes previously valid blocks invalid.

2. Democratic and clear update.

3. Hash power split cause less secure network.

[rbrownlow]

1. A hardfork makes previously invalid blocks valid (expansion of the rule set) and a softfork makes previously valid blocks invalid (contraction of the rule set).

2. A hardfork would be performed if there was an update that created an expansion of the rules. There would then be 2 chains: one with the original rule set and another with the expanded rule set.

3. When performing a hardfork, the risk is that it will create 2 different blockchains. It divides the community into 2. It also will cut the hashrate in half which lowers the integrity of both blockchains.

[mjwatson10]

1. A hard fork makes previous invalid blocks valid and a soft fork make previous valid blocks invalid
2. If a change to consensus is needed
3. At split in the community causing two separate and less secure chains

[Mr_Lundholm]

HF- expansion of the ruleset (invalid blocks becomes valid)
SF-contraction of the ruleset (valid blocks becomes invalid)

2. When the consensus ruleset change. You can make a new bitcoin by hardforking. If we take it to sports, Padeltennis is a hardfork, a update of the sport tennis, some will stay and play regular tennis because they prefer that and some others may start the new sport padeltennis.

3. Split the chain, split the community. Reduces the hash power due to the split of miners.

[Drew_Mackey]

1. Softforks and hardforks are both consensus rule updates on the blockchain. Softforks are the process of previously valid blocks becoming valid and hardforks are the process of previously invalid blocks becoming valid.

2. Hardfork pros: It is very clear and democratic, meaning you have a very obvious choice which direction to pick depending on the ruleset you wish to follow. You also have the opportunity to create a brand new cryptocurrency this way.

3. A negative aspect performing the hardfork is the fact that it naturally splits the community leading to fewer hashes meaning that there is less security on each direction of the fork.

[Mucha_Julius]

1. Soft fork makes previously valid blocks invalid while hard fork makes previously invalid blocks valid.

2. If consensus needs changing or updating.

3. It will split the hash power leading to network insecurity.

[tushmoly]

@ivan

• 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. Soft Fork = previously valid blocks become invalid because a contraction of the existing consensus rules happens. Hard Fork = previously invalid blocks become valid thru an expansion of the consensus rules.

2. A change in the consensus rules is desired by a portion of the network

3. If the entire network does not adopt the new consensus rules, the block chain splits and you have a new block chain.

[arno_nabuurs]

1. A hard-fork is an update that makes previously invalid blocks valid, a soft-fork is the opposite

2. to change the ruleset, reverse transactiions, update security

3. Less security because miners are split, split of the community

[ibin]

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

Hard fork update is an update that makes previously invalid blocks valid.
Soft fork update is an update that makes previously valid blocks invalid.

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

Hard forks are use to democratically allow for a choice between following the newly created blockchain due to the update, or stay with the original blockchain.

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

The hash power is split, therefore security as a whole is reduced.

[MartinK]

1. a hardfork makes the previous invalid blocks valid, a softfort makes the previous valid blocks invalid!
2. its a clear and democratik update, even if you dont want to update you will be on te same blockchain as the updated ones,
3. the risk is you split the community , the chain and the hashpower.

[Caupuri]

1. What is the difference between a soft fork and a hard fork? A hard fork is an update that makes previously invalid blocks valid, while the soft fork is an update that makes previously valid forks invalid.

2. What are some of the reasons why you would do a hard fork? Hard forks are used to create new coins, correct important security risks and add new functionalities to the network.

3. What are some of the risks with performing a hard fork? It risks dividing the community and reducing the hash power, thereby making the network more vulnerable.

[Steve199]

@ivan

What is the difference between a softfork and a hardfork?

A softfork is an update that contract the rule set when creating a new block (example changing the requirement for the size of the new block after the update from 2MB or less to 1 MB or less). It makes the previous valid blocks invalid after the update as if a Miner was trying to generate a 1.5MB block now it would be invalid and would be forced to update to the new rule and create a block of 1MB or less.
It needs 50% or more of the network to update to the new rule to avoid the fork

An hardfork, in reverse, is an update that expand the rule set when creating a new block (example changing the requirement of the size of the new block after the update from 1MB or less to 2 MB or less).It makes the previous invalid blocks valid after the update as if a Miner was trying to generate a 1.5MB block now it would be valid as the new rule would allow a block of 2MB or less. In this case the miner has the choice to follow the new rules or not.
It needs 100% of the network to update to the new rule to avoid the fork.

@ivan

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

Increase block size so that more transactions can fit inside the block/change of vision in long term on the project.

@ivan

What are some of the risks with performing a hardfork?

The hashrate power of the network is reduced and as conseguence the security is reduced as well , also the chain and so the communities are splitted between the “old” and the new currency.