Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#1026

Hi there!! It may happen that a big pool of miners decide to stay in one side of the fork, and if their total hashpower is becomes majority, they can definitely make the blockchain insecure, and change data on it. The wars are often seen before the fork, until they decide to split, and some miners go with one chain, some with the new one!

Hope that answers you question!

Felipe.

#1027

Hi there! Did you mean that it makes previously valid blocks invalid?

#1028

Can you think of an example that will make previously invalid blocks valid?

#1029

Hi there! And what will happen to the security of the two chains in this case?

#1030

Like expanding the set of rules the network is following. E.g. going from accepting blocksize <= 1MB to accepting blocksize <= 2MB on the blockchain

1 Like
#1031
  1. soft fork shrinks validation while hard fork expands validation.
  2. If i wanted to increase the block size. clear democratic
  3. hash power split and less secure network
1 Like
#1032

clarity at last! thank you :robot:

1 Like
#1033

clarity at last, thank you! :robot:

2 Likes
#1034
  1. Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.

2.The hash power would be split, and the result may mean less security. The community would also split

  1. Hash power split reduces security, disagreement between community
#1035

hi wafflemark,

Yes, indeed. I wrote it not right. Softfork makes previous valid blocks invalid.

1 Like
#1036

1.A hard fork update is expansion of the set of rules and its previous invalid blocks are valid where a soft fork is a contraction of the rule set and valid blocks are now invalid.
2. A hard fork would be done if consensus needed to be changed.
3. it would be split hash power and a less secure network and a split chain.

1 Like
#1037
  1. What is the difference between a softfork and a hardfork?
  2. What are some of the reasons why you would do a hardfork?
  3. What are some of the risks with performing a hardfork?

A1. A softfork makes previously valid blocks invalid and hardfork makes previously valid blocks invalid.

A2. To force the entire network to adopt change. To create a new currency.

A3. It has the potential to split the community or the chain.

1 Like
#1038
  1. What is the difference between a softfork and a hardfork?
    Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid
  2. What are some of the reasons why you would do a hardfork?
    Add some expansion to the consensus or to create a revised currency with different aspects to it.
  3. What are some of the risks with performing a hardfork?
    Reduce the network hashrates and security
2 Likes
#1039
  • What is the difference between a softfork and a hardfork?
    Softfork - Any update in the rules which makes the valid blocks invalid will result in Softfork of the blockchain
    Hardfork - Any update in the rules which makes the invalid blocks valid will result in Hardfork of the blockchain
  • What are some of the reasons why you would do a hardfork?
    To create better currency
  • What are some of the risks with performing a hardfork?
    It will split the chain, community and will create a new currency.
1 Like
#1040

Correct, but what are the reasons for a network to do this hard fork?

#1041

Hi there! better to say that it will split the hash rate, as some miners will leave to support the new chain! :grinning:

1 Like
#1042

What is the difference between a softfork and a hardfork?

A hard fork is an update on the network that makes previously invalid blocks valid. A soft fork is an update that makes previously valid blocks invalid.

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

So that every node is following the same set of rules after an update. A hardfork gives a “clear” update.

What are some of the risks with performing a hardfork?

Hash power is split which reduces security.

1 Like
#1043
  1. Update in the code that makes previous block valid.
  2. Increase the block size
1 Like
#1044
  1. What is the difference between a softfork and a hardfork? A hard fork results in a permanent fork in the chain as two valid branches arise, as a result of a rule change, which creates in effect a new currency like bitcoin gold or bitcoin cash. Both forks are valid. A soft fork is usually created when the rules get tighter IE mB size of a block reduced. Once over 50% of the network adopts the rule change, one of the forks created will be rejected and the single strand chain is restored. Soft forks are usually resolved and don’t result in a permanent fork.
  2. What are some of the reasons why you would do a hardfork? To create a new currency or bitcoin cash or bitcoin gold. To reduce hashrate?
  3. What are some of the risks with performing a hardfork? Reduction in hashrate and thus security, as the network is split. Confusion.
1 Like
#1045

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?
    A soft fork is a contraction of the rules which makes a valid block invalid and a hard fork is a expansion of the rules which makes a invalid block valid.

  2. What are some of the reasons why you would do a hardfork?
    If you wane change the rules, make a new currency or add new possibilities to the blockchain.

  3. What are some of the risks with performing a hardfork?
    Not everyone in the community agrees, is not updating and a second chain can get created. This can lead to reduction of hash power, which can lead to reduction in the security of the network.

1 Like