Homework on Soft and Hard Forks - Questions

[Fabrice]

@WesBit

The difference between a softfork and hardfork is that a softfork deceases the consensus rule for the block size limit from <=1mB and a hard fork is the other way around where you increase the size in the consensus rule for block size.

It doesn’t need to be the blocksize. This is just 1 example. There are more consensus rules you can change.

[Fabrice]

@Staniis

So maybe I didn’t quite understand who is a Node, A node isn’t a person that just owns a wallet on his pc? How does one become a Node in the network?

Thank you for your answers by the way!

A node is like a program running on a computer that has the blockchain synced with other peers. Bitcoin core is the software that most full nodes are running. That software also function as a wallet.
1 person can have 2 full nodes on 2 computers.
If you want to have a bitcoin FULL node you need to download bitcoin core

http://www.bitcoin.org

bitcoin/bitcoin

[Fabrice]

@Caleb_Timson

The most recent use of a hardfork was to block Justin Sun from the Steemit Network. The protocol was updated to block certain UTXOs holding a larger portion of the token base to reduce risk of centralization.

I don’t think that there are utxo’s in steem. It think it has an account model like Ethereum.

[Fabrice]

@Antonastrm

A hard fork splits the chain. A softfork does not split the chain

If everyone updates in a hardfork, there will be no split. In case there is a need for a security update, there is a possibility that everybody will update. Only when there are a portion of users and miners who don’t want to update you will have a split in the chain and community.

[Fabrice]

@Sonic

Split chain, inflation(due to new currency) & reduced hashing power/security

It’s not really inflation, because there will be 2 different coins with different rules. It will only have the same history till the blockheight when the fork happened

[Fabrice]

@figurin

Soft fork reduces the size of a block mB as to a Hard fork increases the blocks mB

Changing the blocksize is just an example. There are more consesus rules. For example block subsidy, or even use less blocks for a next halving, so we even have less total max supply.

[Fabrice]

@Joey

hardforks makes previous invalid tx valid. softfork makes previous valid tx invalid.

It’s not just about transactions, but also consensus rules for block creation etcetera.

[Fabrice]

@Granmajax

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.

You’re are talking about accident forks.
A hard fork is when you change consensus rules that are not backwards compatible with old nodes.
A softfork is a contraction of the rule set, so the changes are still valid according to all other nodes.
In a hardfork you need everybody to update, otherwise it will split the chain and community.

[Fabrice]

@PsiMach

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

In a soft fork, you don’t risk splitting the chain, because those rules are still valid against the old rules.

[Fabrice]

@Nick_Carolin

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

It’s not only about transactions, but also consensus rules for block creation etcetera.

[Sander_Heikens]

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

2. What are some of the reasons why you would do a hardfork?
When you want to make changes that are not backward-compatible with the current version.

3. What are some of the risks with performing a hardfork?
Fragmenting the community, decline in hashpower (security)

[Adam1]

1.soft forks contract the rule set of the blockchain an hard forks expand the rule set.

2.the need for more transactions in a block.

3.the risks of making hard forks are splitting the chain, splitting the community,and splitting the hash power.

[Simo]

Ok, Thanks for the feedback.

[hoolie]

1. Hark fork is an update where previously invalid blocks become valid. Soft fork makes previously valid blocks invalid

2. to expand the ruleset

3. Split of the network, less hashpower, security issues

[CSquared]

Thanks for that clarification Mauro. Much appreciated!

[kongpoul]

1:
Soft Fork:
An update that makes previously valid blocks invalid
Contraction of the rule set

Hard Fork
An update that make previously invalid blocks valid
Expansion of the rule set.

2:
To expand the block size for possible faster transactions (Bcash). Or if someone do not agree with the protocals in the existing change, then they can start their own version.

3:
You split the chain, community and hashpower.
Old nodes will not be veifying the new fork and this reduces the validation and veryfying of transactions.
Possible double spend of coins

[Niieells]

1. What is the difference between a softfork and a hardfork?
   a soft fork is a contraction of the ruleset and valid blocks are now invalid. and a hard fork makes invalid block valid.
2. What are some of the reasons why you would do a hardfork?
   a change in conscensus
3. What are some of the risks with performing a hardfork?
   A chainsplit and also community split

[Adrian_P]

1. Difference between a softfork and a hardfork is a hardfork is an update that makes previously invalid blocks valid while a softwork makes previously valid blocks invalid.

2. To expand the consensus rule set or make a change in protocol rules.

3.It splits a community and the chain plus reduces the hash power which brings a security risk.

[MoCrypto]

1. Hard fork makes previously invalid blocks valid and a soft forks does the exact opposite.

2. Because you want a clear and democratic process for a change in the consensus of the blockchain.

3. Hash power split, split in the community as well as the creation of a new currency. The network can become less secure due to the hash power being split between two chains.

[Henk1]

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

• Soft fork makes previously valid blocks invalid.
• Hard forks make previously invalid blocks valid.

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

• If you want to create a new currency with different consensus rules.

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

• You split the community
• Split the hash power that reduces the security of the blockchain.