Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#1087

[quote=“ivan, post:1, topic:8446, full:true”]
Homework on Soft and Hard Forks - Questions

  1. The difference is whether the consensus rules are expanded(hard fork) to validate a greater variety of rules or contracted (soft fork) to exclude data that once met the criteria but no longer does
  2. If an expansion of the consensus rules added functionality and/ or efficiency to the overall network you would proceed with a hardfork
  3. You can compromise security by causing a fork and dividing the numbers of miners between two chains.This reduces the hashrate on both forks, effectively splits the community and potentially leads to a new currency
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#1088

  1. Hardfork makes previously invalid blocks valid (expansion of the validation rules). Softfork makes previously valid forks invalid (contraction of the validation rules).

  2. Hard fork could be used to make update that is more democratic in adoption, fix bug protocols, improve performance.

  3. Hardfork risks are: Split chains, New currency creation, trust loss of the users, shared hash power (reduced network security).

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#1089

Homework on Soft and Hard Forks - Questions
What is the difference between a softfork and a hardfork?
A Hard Fork is an update to the rules that makes some previously invalid blocks valid. A Soft Fork is an update to the rules that makes some previously valid blocks invalid.
What are some of the reasons why you would do a hardfork?
If you want to increase the block size. You would create a new currency, which could be favorable for some people.
What are some of the risks with performing a hardfork?
Splitting off some of your nodes into a new currency reduces the security of both networks.

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#1090
  1. What is the difference between a softfork and a hardfork?
    Soft fork makes previously valid blocks invalid. Whereas hard forks make previously invalid blocks valid.
  2. What are some of the reasons why you would do a hardfork?
    Create a new currency, depart from original ruleset
  3. What are some of the risks with performing a hardfork?
    Split the community, reduce security because the hash rate is reduced
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#1091

  1. Soft forks occur when an update makes previously valid blocks invalid. A hard fork occurs when an update makes previously invalid blocks valid.

  2. If you agree with the new consensus.

  3. This update sometimes causes a split in the community.

#1092

What is the difference between a softfork and a hardfork?

I’ve come to understand that the difference between a hard fork and a soft fork are as such
a hard fork;is an expansion of the rule set, where previously invalid blocks are now valid.
A soft fork is the opposite for the most part where it is a contraction of the rule set, where previously valid blocks are invalid.

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

some of the reasons i would go about doing a hardfork is to update the blockchain in its entirety, thus were all on the same page, in a way i would hope that an expansion of the rule set would add a bit more flexibility if needed to better maintain and guide the system at hand.

What are some of the risks with performing a hardfork?

Some of the risk involved in a hardfork seem to me to be 1st a split in the blockchain which can cause a split in hash power and that split can cause the community at hand to split part which can have dire effects to the long term healthy of the blockchains involved. Also the hashing power necessary to power and maintain the chain is divided which again can affect the overall health and strength and integrity of the change which can lead to attacks and exploits on the network and chain.

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#1093

Yes. Keep up the great work Mark! :fire: :fire:

#1094

Accidental forks/chain splits caused by 2 blocks being mined at almost the same time will eventually get resolved. If we have a hard fork and 60% of the nodes updates and 40% do not, we will have a permanent chain split. But if 95% update and 5% don’t, we would still have a permanent split but the 5% chain would probably die off at some point.

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#1095
  1. Hardfork implies changes that expand the current rules, making invalid blocks valid. Softfork makes changes that tighten the set of rules, making valid blocks invalid.
  2. To implement new changes due to the different beliefs in consensus algorithms.
    3.Split in the community due to the different visions that will cause damage of the security in network by decreasing the hash power.
#1096

What is the difference between a softfork and a hardfork?
Softforks tighten block validity requirements, and hardforks loosen them.

What are some of the reasons why you would do a hardfork?
If you wanted to update the code to introduce new features in a way that expanded the rules for new blocks to be created, a hardfork would be used.

What are some of the risks with performing a hardfork?
People might decide to stop mining on the hard fork, causing a decrease to network security and hash rates.

#1097

Not necessarily. But if a hard fork changes on of the core components, there will probably be a conflict in the community. Some nodes will accept and some will not. In case of a bug, we can say that most probably all of the nodes would accept. This way we wouldn’t have a chain split. :smiley:

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#1098

I don’t think its in anyone’s interest to split the chain. When a hard fork is proposed by a community, our best interest would be for everyone to accept it. If all accepted, there would be no chain split and we wold have gotten what we wanted. :slight_smile:

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#1099

Do you think you could provide an example?

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#1100

Hard fork may split the chain. If everyone updates or if no one updates there will be no chain split. 95%+ scenarios are also good. Even if it does create a chain split, the chain that got the 5% of the nodes may die out quickly. :smiley:

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#1101

A soft fork can’t cause a chain split. A hard fork may or may not cause the chain split. But I agree with you. A hard fork will most likely cause a chain split, as the chances everyone would agree/disagree are very low. :slight_smile:

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#1102
  1. Soft fork makes previously valid blocks invalid, hard for makes previously invalid blocks valid
  2. Hard fork is more democratic, creates new currencies, clear choice for miners
  3. Hard fork reduces hash power and security, splits chain and community
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#1103

1.). As long as there is more than 50% of the community that updates, the Soft fork reduces the rule set and keeps the community together. A Hard Fork increases the rule set making two communities and splits the currency unless there is 100% participation in the update.

2.) One might do a hard fork to increase the block size to increase the speed of transactions. One might want to increase the rule set to discourage mining and eliminate miners.

3.) People don’t want the update and split the community to a new coin which will lower liquidity and miners.

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#1104

Hi there. You are right, but it does not mean that it reduces/increases when they happen. Is just an example of a rule change.

Felipe.

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#1105

You mean blocks :wink: ?

#1106

Hi there! Can you elaborate a bit more in your response?

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