- A fork is an update of the blockchain rule set. In a Softwork we see a contraction of rule set where the update makes previously valid blocks invalid. In the Hardfork instead, there is an expansion of the set of rules and this makes previously invalid blocks valid.
- There could be a situation where the community is divided on some rule set and they decide to start working on a different chain.
- With a hardfork we see an hash power split as well as a community split. Hashpower split can lead to less secure blockchain.
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I sure do yep! 
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- A softfork is an update to the network consensus rules which makes a previously valid block invalid
A hardfork is an update to the network consensus rules which makes a previously invalid block valid - Hardfork is done when you want to expand the consensus rules.
3.Some of the risks with performing a hardfork is that you split the community, the blockchain is split and hash power is split thus reducing network security.
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- A hardfork is an expansion in the blocksize whereas a softfork is a contraction in the blocksize.
- A hard fork may be necessary to change the consensus on the blockchain.
- A hard fork may reduce the hashpower and therefore reduce security, and also cause disagreement within the community.
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Hardforks and softforks are not limited only to increasing or decreasing the block size. For example you will learn that Segwit was a softfork which didnât change the block size but did introduce a new type of transaction 
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Homework on Soft and Hard Forks - Questions
- What is the difference between a softfork and a hardfork?
The difference is that a hardfork makes previous invalid blocks valid and softfork makes previous valid blocks invalid. A hardfork results in a new currency and a soft fork doesnât.
- What are some of the reasons why you would do a hardfork?
Make a new currency with a new set of rules â A chance in consensus. Itâs clear and miners can choose to join or not â democratic
- What are some of the risks with performing a hardfork?
You split the current community. You reduce the hash power temporarily and therefore the security on the blockchain.
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It is not certain that a hard fork will cause a split in the community/chain. Its a risk. A hard fork update can go smoothly if everyone updates or if no one updates.
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- What is the difference between a softfork and a hardfork?
Hard fork makes previously invalid blocks valid (Expansion). A soft fork update makes previously valid blocks invalid (Contraction). - What are some of the reasons why you would do a hardfork?
Maybe the community sees opportunities in adding a certain function to the network but currently the network does not suffice to meet up to community demands. - What are some of the risks with performing a hardfork?
High risk of being unsuccessful, 100% of all nodes in network need to be updated. Furthermore, if hard fork takes place it usually means the community is very much divided on governance and consensus issues. Also Hash power will also be drastically divided
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A softfork makes previously valid blocks invalid whereas hardfork updates make previously invalid blocks. Essentially a softfork is consider a contraction of rule set and a hardfork an expansion.
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A reason do a hardfork can be to create a new coin, like to âbitcoin cashâ; split community and change of consensus rule set.
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Some issues could be disagreement between community, lead to split, thereby a reduction of hash power and weakening the security within the blockchain.
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1 a soft fork valid to invalid
hard invalid to valid
2 it creates an invalid to valid increasingly inclusive
3 risks performing hard fork
security hash drops because miners running on 2 lines
update the chain 100% acceptance to go forward and not create more forks
Hi there! What will be invalid/valid here in each fork?
Can you explain to us a little bit more about the reasons of doing a hard fork?
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hello,
1) The difference between a softfork and a hardfork is a softfork makes previously valid blocks invalid and a hardfork makes previously invalid blocks valid.
2) One reason a hardfork should be done is if you wanted to create a new currency.
3) The risk of performing a hardfork is you split the hash power thereby lowing the security in the network.
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- Update causing a âHard Forkâ might be loosening the protocol-rules up, less tight than before. While updates tightening up the previous rules can lead to âSoft Forksâ - all depending on which % of all miners actually agree to participate in the update proposed to them
- increase numbers of blocks which can be mined with block-reward to the miners - woe more miners in to support the BC, boost up a project - but with a bigger risk of not easy to fix hardforks being created. Can be intentionally, as a part of the community wants to benefit from a ânew coinâ on the marketâŚ
- split the supporting BC-community, and hashpower gets reduced, making the BC work less effective, longer TX-times and security reduced. Therefore an update to the consensus on which a BC works has to be considered carefully, what one actually wants as a result of it
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Did you mean number of coins?
The block times are just temporary until the difficulty adapts to the new state of affairs
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- The hard fork is a blockchain update that makes previously invalid blocks valid. And it usually splits the chain so that we have now btcgold btcdiamond etc.
Soft fork update is pretty undemocratic. It makes previously valid blocks invalid. It doesnât force the chain to split as old outdated miners can still read the old blocks and accept new ones.
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The hard fork can be done in order to make big technical adjustments to the protocol. Such as increasing speed and reducing fees.
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The risk of performing hardfork is basically dividing the community which leads us to decreased hash rate which leads us to decreased security.
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This can be achieved with a soft fork SegWit for example was a soft fork that introduced smaller transactions, which reduced fees and increased the throughput.
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The difference between a soft fork and a hard fork is that a soft fork makes valid blocks invalid, and hard forks makes invaid forks valid.
Some reasons why you would do a hard fork would be that you might want all the nodes to update or if you wanted to create a split.
Some risks with performing a hardfork is that the network may not be as secure when the blockchain splits, and some nodes may not consent to the update.
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1.A soft fork makes previously valid blocks invalid ie. 1mB block size to 0.5mB Block size whereas a Hard fork makes previosly invalid block valid ie. 1mB Block size to 2mB block size.
2.To change the rules of concecus or create a new currency.
3.Hash power can be reduced decreasing security and splitting the community.
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The difference between a hard fork and a soft fork is that a hard fork tends to result from block consensus rules becoming less strict and can lead to chain splits, whereas a soft fork tends to result from block consensus rules becoming more strict and generally does not cause the chain to split. Also, hard fork tend to result in a new currency being formed and can reduce the security of the blockchain by reducing the number of miners willing to accept the new consensus rules.
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One might do a hard fork if they wanted to update or change something in the consensus rules or create a new currency. Like Bitcoin Cash, Diamond, Gold etc.
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Some risks involved with performing a hard fork include a split in the chain, decreased security due to fewer miners capitulating and a split in the community.
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The new currency will be formed if not 100% of nodes accept the update, but normally they do. There are actually some coins that perform hard forks all the time! Also there is a change that no one accepts the update (0%).
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