Homework on Soft and Hard Forks - Questions

Blockchain and Bitcoin 101
#101

softfork: Previous valid blocks become invalid -> contraction of rules
hardfork: Previous invalid blocks become valid -> expension of rules

First of all it happens because you want to update something. And the update looks like that you want to expand a rule, for example making the block size larger from 1mB to 2mB. Also it makes clear on who updated and who not. It is also opens in some way democracy because you can see how many people update and how many do not.

The chain and community gets splitted. It may be that you create a new currency with that, but Im not sure if you can call it a risk. Also you split the hash power and the network becomes unsecure because you split the amount of miners who update and who do not update.

#102
  1. A SF makes previously valid transactions invalid (contraction), while a HF makes previously invalid transactions valid (expansion).
  2. To have a clear and democratic change to the rules.
  3. A HF will almost certainly split the chain, the community, and the hash power of the network.
#103

  1. The hard work is an update that makes the previously invalid block valid. The soft work is an update that makes the previously valid block invalid.

  2. Hard fork may be done if some community members do not agree on certain topics and want to separate by starting a new chain.

  3. Hard forks separate the community and split the hash power, what makes the previously strong community less secure.

#104

1.Soft fork makes the valid block invalid and comes back to one chain, opposite in hadr
2. For example to increase the capacity of blocks
3. Hard fork lways creates new coin so there is a possiblity that this coin will not be accepted and value will drop, comunity is split, money is split

#105

• Homework on Soft and Hard Forks - Questions
• What is the difference between a softfork and a hardfork?
o A hard fork makes previously invalid blocks valid while a soft fork makes previously valid blocks invalid.
o A hard for is an expansion of the rule set while a soft fork is a contraction of the rule set.
• What are some of the reasons why you would do a hardfork?
o To expand the rule set.
o To create a new currency.
o To change consensus rules.
o To add functionality.
• What are some of the risks with performing a hardfork?
o To not create a new chain, all miners must update.
o Not enough miners on the fork. 51% attack
o Splits chain.
o Splits community.
o Splits hash power (lowers security).
o It may create a new currency.

#106
  1. Hard Fork makes previously invalid blocks, valid - Expands the Rule Set.
    Soft Fork makes previously valid blocks, invalid - Contracts the Rule Set.
  2. To expand the rules of the blockchain.
  3. It reduces hash power, splits the community and can weaken the security.
#107
  1. What is the difference between a softfork and a hardfork?
    Hardforks makes previous invalid blocks valid and softforks makes previous valid blocks invalid.
  2. What are some of the reasons why you would do a hardfork?
    Clear and democratic.
  3. What are some of the risks with performing a hardfork?
    Splits the chain and the community. Reduces the hash power and the security.
#108
  1. What is the difference between a softfork and a hardfork?

A hard fork happens when an update makes a previously invalid block valid. A soft fork is the other way around: it makes a previously valid block invalid. So the main difference is that a hard fork is an expansion of the rule set that leads to consensus in the network whereas a soft fork is a contraction of that rule set.

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

It is a clear update of the rule set and democratic.

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

You split the chain, the community and the hash power. The latter might lead to security issues.

#109

1- a hard fork makes previous invalid blocks valid and a soft fork makes previous valid forks invalid
2- change in consensus
3- miners may not agree with the change and stop dedicating their hash power to that chain. It would decrease the hash power(making the network less secure), and very likely they will dedicate their hash power to another chain

#110

  1. Hard forks make previously invalid blocks valid, while soft forks make previously valid blocks invalid.

  2. Hard forks are used to create new currencies, there could be a disagreement in protocols between developers, or a hard fork could be to upgrade protocols.

  3. The blockchain splits hash power is split and this reduces security. A hard fork can also split the community.

#111
  1. What is the difference between a softfork and a hardfork?
  • Hardfork is a change in consensus rules that breaks security for nodes that don’t upgrade. The update makes previously invalid blocks valid
  • Softforks is a change in consensus rules that weaken security for nodes that don’t upgrade. The update makes previously valid blocks invalid
  1. What are some of the reasons why you would do a hardfork?
  • To add functionality to the network that cannot be done on the current rule set. Changing block size, or TPS as an example
  1. What are some of the risks with performing a hardfork?
  • Split the Chain
  • Split in the Community
  • Split the Hash Power
  • Create a new currency or idea from the host chain
#112

1, SF- contraction of rule set making previous valid blocks invalid. HF- expansion of the rule set making previous invalid blocks valid.

2, change/functionality to consensus.

3, lower hash power, less security and split community

#113
  1. What is the difference between a softfork and a hardfork?
    Soft fork is where an update to the consensus rules causes a previously valid type of block to now be considered invalid
    Hard fork is the opposite where previously invalid can now be considered valid.
  2. What are some of the reasons why you would do a hardfork?
    If you want to diverge and create a separate blockchain community. Disagree with the community accepting the new rules.
  3. What are some of the risks with performing a hardfork?
    This will split the chain and the community. It also reduces the overall hashrate for a given community and thus jeopardizes security.
#114

  1. Softforks make previously valid block invalid and Hardforks make previously invalid blocks valid. In the Softfork the chain continues the same and on the Hardfork the chain is split.

  2. When there is a change in the consensus rules

  3. The hardfork can split the community, reduce the hash power and therefore reduce the security in the blockchain.

#115

A Hardfork loosens up the rules, making previously invalid transactions valid, and Softfork tightens up the rules making previously valid transactions invalid.
2.
To increase the speed and capacity of the blockchain; add functionalities; you still would have consensus in the new blockchain requirements, since it’s clear to all participants Nodes the changes in the update; and creates a new currency.
3.
Losing part of its hash power, and the security since you have fewer nodes to verify; splits the community.

#116

1- Hardfork: Previously invalid blocks become valid. Moslty blockchain and comunity splits.
Softfork: Previously valid blocks become invalid. This happens when mayority 50%+ decide to perform an update on the consensus rules. Mostly this doesnt split the blockchain.
2- To increase size of a each block. Change the time between new blocks generated in the blockchain.
3- A hard fork cna cause a blockchain split which means hash power will be significantly diminished compromising security.

#117

  • What is the difference between a softfork and a hardfork?
    A soft fork is backwards compatible, meaning that non updated nodes are still able to push through transactions that fall within the new rules, thus not splitting the chain. A hard fork is not backwards compatible meaning that non updated nodes will not be able to process transactions or push blocks to the blockchain, which causes a split in the chain.

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

  • A planned update to the network and protocol
  • The creation of a new currency and community that have different views on the protocol
  • What are some of the risks with performing a hardfork?
  • The division of a community
  • Double spending
    -Non updated nodes are left behind
#118

  1. Soft work makes previously valid blocks invalid, and that’s in reverse order on hard fork.

  2. To add features out of current set of rules, block size increace etc.

  3. Splitting the chain and miners, which will effect on hash power and security.

#119

Hark forks make previous bloinvalid blocks vlid. soft forks make previously valid forks unvalid.
consensus rules change
it might split the cimmunity nd create a different currency.s.

#120

The difference between a hard fork and a soft fork is , a hard fork is when the rule set is changes so that previoulsly invalid transactions are now valid, and a soft fork is when previously valid transactions are now invalid.

One of the advantages of a hard fork is that there is no confusion about what version of the blockchain you are mining.

Another pro of a hard fork is that all transactions are able to be validated by every node because they all are forced to agree on the consensus protocol.

Risks of preforming a hard fork in the chain include, the possible splitting of the blockchain into two different chains, when the chain splits the community splits, which includes the splitting of hashpower and validation opening both chains up to attack.