Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#622
  1. What is the difference between a softfork and a hardfork?
    A soft fork happens when 2 miners create a block of the same height for the same blockchain and submit as completed at the same time. this creates a forked block. A new miner must work with one of the blocks and complete an additional chain and submit and the one not chosen has the transactions returned to the mempool to be used in another blockchain.
  2. What are some of the reasons why you would do a hardfork? The protocol for the size of the allowed block has changed and you were not aware of the new protocol and it had been reduced.
  3. What are some of the risks with performing a hardfork? The hard fork could divide the community as some people would want to keep the old consensus rules and create their own chain to mine on. Hash power would be divided as miners went to the chains they wanted to mine. This could be a security risk, and miners that thought they were following proper protocol get blindsided.
#623
  1. A soft fork does not split the chain and work with the updated ruleset. Hard fork rejects the updated ruleset and can split the chain.
  2. A hard fork is adapted to add more capacity to the current blockchain.
  3. It has a security risk as it splits the hash power. It also divides the community.
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#624

1- Hard Forks are an expansion of the rule set. It makes previously invalid blocks valid. While Soft Forks are a contraction of the set of rules. It makes previously valid blocks, invalid

2- If you would want a new currency or a clear update

3- With a Hard fork there is a clear slip in the chain and therefore the hashing power is split resulting in lower security and efficiency

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#625
  1. A softfork is a contraction in the rule set of the protocol vs a hardfork which is an expansion of the rule set. A softwork makes previously valid blocks invalid vs a hardfork which makes previously invalid blocks valid.
  2. Creating a hardfork will create a new currency even if the whole network doesnā€™t agree.
  3. Splitting the network/community. Can decrease the hash power.
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#626

  1. Both are updates to the Bitcoin protocol. However, when a hard fork occurs, all validated blocks in the blockchain going forward will have to adhere to the new protocol. Thus the original blockchain is split into two separate blockchains. Any blocks that donā€™t meet the new standards will be invalid and will not be added to the updated blockchain. It makes previously invalid blocks valid. Most well known example would be Bitcoin Cash hard forked from Bitcoin. During a soft fork, it makes previously valid nodes invalid. Essentially, it is backwards compatible.

  2. Security would be a big reason for potential hard fork. If there was part of the code that contained a backdoor for hacks, that code would definitely need to be updated. Ethereum ran I to this issue in its early days. There would need to be a fundamental consensus among the community of users.

  3. There would need to be a fundamental consensus among the community of users in favor of a hard fork. If there is not an overwhelming consensus, it can create a split in the community which weakens the strength of both blockchains. I know a lot of Bitcoin Maximalists that crap on Roger Ver for this reason. It also reduces the hash power, which could result in a 51% attack security issue.

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#627

  1. What is the difference between a softfork and a hardfork? A soft fork makes a previously valid blocks invalid and a hard fork makes a previously invalid blocks valid.

  2. What are some of the reasons why you would do a hardfork? You would initiate a hard fork to change consensus to make it clear and democratic.

  3. What are some of the risks with performing a hardfork? A split in the chain, community and hash power which could lessen security of the network.

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#628

  1. The difference between a soft fork and hard fork is basically the fact the the soft fork is usually tightening the rules of the consensus as to where a Hard fork will loosen those rules.

  2. A hard fork would be used to loosen the rules. say block have gotten to big and need to increase the max size to where you need more then 1mb and increase it to 2mb

  3. The biggest risk is the fact that it will split the community. That means the network will be less secure as the non updated nodes will become a separate new currency

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#629
  1. A soft fork makes previously valid blocks invalid, a hard fork makes previously invalid blocks valid.
  2. To increase the block size, to create a new currency with separate characteristics.
  3. It splits the community, it breaks the chain, you need 100% of nodes to run the update to complete the hard fork which is harder to achieve than with a soft forkā€¦
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#630

What is the difference between a soft fork and a hard fork?
A hard fork is n expansion of the rules set of a blockchain so that blocks that are invalid become valid

What are some of the reasons why you would do a hardfork?
A soft fork is a contraction of the rule set of a blockchain so valid block becomes invalid in the new ruleset

What are some of the risks with performing a hardfork?
Splitting of the blockchain can occur which would result in a new currency and a split of the hash power thus the network. This could happen to a soft fork update as well but is less likely; if it has more than 50% of the hash power it will not fork

#631
  1. A hard fork is an update that makes previous invalid blocks now valid. Soft fork is the opposite, previous vald blocks are now invalid.
    2.If a big portion of community agrees that an update is needed.
  2. It splits the community. Also, because there are now two chains, the hash power is split on those two chains which results with lower security.
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#632

  1. A hard fork makes previously invalid blocks valid and a softfork makes previously valid blocks invalid.

  2. Generally when consensus rules change, for instance if some members of the community want to change the block size.

  3. The community would likely split and the hash power of the network will would diminish.

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#633

  1. a soft fork makes previously valid transactions, invalid, and a hard for makes previously invalid transactions, valid.

  2. to get a new currency, it is a democratic fork, it is a clear update that changes the consensus rules in an expansionary manner.

  3. split the chain, split the community, we get a new currency (both sides), hash power is split which reduces security compared to the original chain.

#634

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    Contraction: Softfork removes some block rules that used to be valid, resulting in the same single chain with new rules.
    Expansion: HF allows for more new rules to be added so will generally result in two chains, each with old or new rules to continue running.
  2. What are some of the reasons why you would do a hardfork?
    If the community canā€™t agree on which rules best future proof the chain / concept
  3. What are some of the risks with performing a hardfork?
    miners may not be aware of the changes plus less hashing for each so less secrutiy checks are done. Divided community.
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#635

  1. Soft fork makes previously valid blocks invalid. Hard fork makes previously invalid blocks valid.

  2. To perform a clear update which expands the consensus rule set. A chain split is ensured if all nodes do not update, also causing split of the community. Increasing the amount of transactions per block will require increasing the maximum block size rule. If required, this update can be performed by hard fork.

  3. Chain split is ensured if all nodes do not update. Community is also split. Minority hard fork may not be regarded as the original, causing confusion among users. Good examples are the Bitcoin Cash/Diamond/Gold hard forks.

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#636
  1. Softfork makes previously valid blocks invalid whereas hardfork make previously invalid blocks valid.
  2. Your major DeFi got hacked and you want to revert transactions (like Etherium did :stuck_out_tongue: )
  3. That not all nodes do the update and you will end up splitting chain into two new ones (also splitting hashpower, community and creating new currency)
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#637

A hard fork is an expansion of the rule set and a soft fork is a contraction of the rule set.
A hard fork is done to facilitate new concensus
A hard fork may split the community and the risk would split hash power and make the network less secure.

2 Likes
#638

Correct. A simple one is to try to increase the block size or to increase the amount of coins in bitcoin.

#639

As long as it is expanding the rules it will be a hard fork.

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#640

I am glad you mentioned a replay attack. It is for sure one of the risks when a hard fork occurs. Great perception. Keep it up. :smiley:

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#641

Hashrate will go lower when miners turn off their machines. Hashrate is not predetermined.