Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#985
  1. SF is an decrease of rules and HF is an expansion of rule excepted by nodes.
  2. Democratic reasons and it gives a clear view on where the protocol is going.
  3. You splitt the community and the chain. Also there is an inflation in the core coin if to many HF coins are adopted.
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#986
  1. Softfork make previous valid blocks invalid, Hardfork make previous invalid bocks valid.
  2. If the consensus rules needed to be changed.
    3)The chain in most cases get spilt, the community also gets spilt and the split causes some miners to leave the original chain to mine on the new forked chain which reduces hash power and security of the original chain.
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#987

  1. A soft fork is an update that makes previously valid blocks invalid.
    A hard fork is an update that makes previously invalid blocks valid.

  2. Some reasons why a community would hard fork are:

  • Add or change a rule or set of rules
  • Add functionality or innovation
  1. Some risks of a hard fork are:
  • Splitting of the hash power
  • Possible security risks
  • Division of the community
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#988
  1. What is the difference between a softfork and a hardfork?Soft fork has the blocks previously valid now become invalid due to rules of the update,and will eventually be absorbed into the longer blockchain. Hrd fork does not and creates a new block chain as with bitcoin cash
  2. What are some of the reasons why you would do a hardfork? create a new currency, want to start a new community and possibly take advantage of some of the benifits of the past blockchain before the split
  3. What are some of the risks with performing a hardfork? Loose support from the community, non acceptance of the new chain, possible drop in security of the new chain
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#989
  1. Softfork goes from previously valid blocks to invalid, hardfork goes from previously invalid block to valid.
  2. Change consensus, to add or change features and improve what weren’t possible before the update.
  3. It could split the community, meaning it would split the hashpower and making it less secure.
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#990

Task on soft and hard forks -

Questions What is the difference between a soft fork and a hard fork?

Hard fork
The blockchain protocol is modified in a way not compatible with previous versions.
The update makes the invalid blocks valid.

Soft fork
The blockchain protocol is modified in a way compatible with previous versions.
An update that invalidates previously valid blocks.

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

One of the reasons is when the rules change in consensus.

What are some of the risks of performing a hardfork?

The blockchain splits, in turn a hash power split and a community split accordingly reduces security.

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#991
  1. SF= prev valid block invalid HF= prev invalid blocks valid
  2. Clear & democratic
  3. Hashpower split & split communication
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#992

Homework on Soft and Hard Forks - Questions

What is the difference between a Soft Fork and a Hard Fork?

  1. A soft Fork or a Hard Fork is about changing or updating the consensus rule of the network. A Hard Fork is updating the consensus rule to allow previous blocks that was not valid by to consensus rule, to become valid on the blockchain.

A Soft Fork is the opposite to a Hard Fork. The update to the consensus rule will now Not allow previous Blocks that was valid before, to become no longer valid on to the blockchain.

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

  1. An example that you would do a Hard Fork Update could be to increase the block size memory. This would not have previously been accepted under the consensus rule at the time. By doing a update hard fork this would all new consensus rule to accept the new block size limit.

What are some of the risks with performing a hardfork?

  1. With a Hard fork Update you are going to change previous consensus rule established by the network. The hashing power that was being used on just 1 chain will now be split leading to two blockchain under two consensus rules. Each node will only accept what every consensus rules it has set. Miners will deiced which consensus rule they want to use there hashing power leaving to splitting the hashing power & the chain. Communities might also have different views on which consensus rule they want to follow and cause a divide in the community. By splitting the hashing power you are also leaving the network less secure then it was before the Hard Fork.
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#993

1. What is the difference between a softfork and a hardfork?
While softfork constrain the ruleset of the new blocks invalidating previous blocks a hardfork expand the ruleset, making previously invalid blocks, valid.

2. What are some of the reasons why you would do a hardfork?
A group of people wants to change the ruleset (update the set of rules) and the majority ( >50%) in the network doesn’t want to.

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

  • The split of the community, the chain and also the loss of hash power,
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#994

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

  2. New better update with consensus. Split the community, reduce hash, new coin (if that’s your goal).

  3. split community reduce hash. BUG!!!

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#995
  1. What is the difference between a softfork and a hardfork?
    A softfork is a change to the protocol that makes previously valid block invalid. Hardfork is a change that makes the previously invalid block valid.
  2. What are some of the reasons why you would do a hardfork?
    Hardfork is a radical change in order to correct a security risk or add new functionality. Sometime even to reverse a transaction.
  3. What are some of the risks with performing a hardfork?
    It could create permanent divergence of the network, split the hash power or divide the community.
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#996
  1. Soft forks makes previous valid blocks invalid and hard forks makes previous invalid blocks valid
  2. If there is no other way but split the chain because your improvements coudn`t run within current rules or you want to give someone the opportunity to choose if he wants to follow
  3. Hash power gets split which reduces security, splitting the community
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#997
  1. A softfork is an update that makes valid blocks invalid. A hardfork is an update that makes invalid blocks valid.
  2. Change and update consensus.
  3. The risk is dividing the community and reducing hash.
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#998

1 Hard fork is an expansion of the rule set and makes previously invalid blocks valid. A soft fork is a contraction of the rule set and makes previous valid blocks invalid.
2 If the community cant agree with the new update they would separate and a new coin would emerge.
3. Split chain and split community.

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#999
  1. Soft fork is invalidating the valid blocks. Hard fork is validating the invalid blocks.
  2. You will get a better updated version of the block.
  3. The hashing security has been reduce due to miner community is split.
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#1000

Soft and Hard Forks Homework

  1. An update that leads to a hard fork is an update that makes previously invalid blocks valid, while an update that leads to a soft fork means previously valid blocks become invalid.
  2. You would do a hard fork when you need to expand the data size of the block for example and you need to change the rules to accept a larger data size. When a change to the consensus rules is needed, an update with a fork may be considered.
  3. Risks with preforming a hard fork are that the chain and the community will be split, and hash power will be split which reduces security.
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#1001

Soft fork is a reduction in rule set in which some of the valid blocks become invalid.

Hard fork is an expansion in rule set in which some of the invalid blocks become valid.

To update the chain to accept blocks of bigger size and change the consensus rule sets.

It reduces the hash power.
It splits the community.

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#1002
  1. What is the difference between a softfork and a hardfork?
    soft forks make previous valid blocks invalid and hard forks does the opposite and creates a new chain
  2. What are some of the reasons why you would do a hardfork?
    to make a clear update and to create a new chain and currency.
  3. What are some of the risks with performing a hardfork?
    you split the community and weaker the hash rate.
    my question is does this open the chain to a 51% attach possibility like bch bsv wars…
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#1003

1: hard forks expand the rules and are clear and democratic making invalid blocks valid while softfork reduce the rule set making valid blocks invalid
2:to apply a change in consensus
3:split in community reduce hash rate and reduced security

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#1004

  1. The difference between soft and hard fork is the method of validating blocks. A soft fork is a fork that makes previous valid blocks invalid, where a hard fork makes previous invalid blocks valid.

  2. In order to expand the rules a hard fork is required. The modification that comes with hard forks makes any consecutive transaction unsuited and incompatible with the network that was in place before the update. The update creates a fork in the main chain, resulting in new transaction (new rules) only functioning on the newly forked chain, however old transaction (old rules) structure still works on old chain. This creates a division in community where two chains are running side-by-side and hash power are split from the original chain.

  3. The risk that is associated with performing hard fork are listed below:

  • Risk hash power split resulting in reduced security
  • Community split
  • Chain split could result in unforeseen vulnerability
  • Adoption risk
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