- A hard fork is an update to the protocol that makes previously invalid blocks valid (expansion). Soft fork is an update to the protocol that makes previously valid blocks invalid (contraction).
- Its an upgrade, improvement of the protocol rules.
- Split of the chain, the community and the hash power. New coin is usually been created.
- A hard fork splits the chain permanently. Previously invalid blocks become vaild on the hard chain. A soft fork splits the chain temporarily, making previously valid blocks invalid. Once the soft chain gains over half the hash power the chain becomes valid.
- A hard fork would be done when new rules canât be agreed upon. Each chain would operate under a different set of rules.
- A hard fork reduces the hash power on each chain, making the network less secure.
Question 1
What is the difference between a softfork and a hardfork?
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Soft fork
A soft fork is a software update which is a contraction of the existing rule set. It reduces the rules for valid blocks. For example the reduction of the block size from 1MB to 500kb. It is considered a less democratic update than a hard fork. It doesnât actually break up the chain, network or community. -
Hard fork
A hard fork is a clear software update which is an expansion of the rule set. It expands the rule set for valid blocks. It splits a chain in two. It is considered a more democratic update than a soft fork.
Question 2
What are some of the reasons why you would do a hardfork?
Some of the reasons you might want to do a hard fork are
- To make improvements to the network
- To expand the rule set for the blocks on the network
- To add extra features to the blocks on the blockchain.
- To fix bugs in the protocol.
- To perform a clear upgrade.
Question 3
What are some of the risks with performing a hard fork?
Some of the risks with hard forking are
- Splitting up the community
- Splitting up the miners on the network
- Reduces the overall security of the network by reducing the hash power.
- Opens the community up to replay attacks.
- What is the difference between a softfork and a hardfork?
HF: enhances the rules which could lead to formerly inalid blocks might be valid after HF.
Slpits the chain - What are some of the reasons why you would do a hardfork?
Expansion of ruleset.
Creation of new currency. - What are some of the risks with performing a hardfork?
Split of hash power (more hash power = more security)
Split of community
Soft and Hard Forks - Questions
1. What is the difference between a softfork and a hardfork?
A soft fork will add restrictions to the consenus rules of a block, requiring stricter rules to accept a block, whereas a hard fork loosens the rules which allows for a larger set of possible blocks to be accepted.
2. What are some of the reasons why you would do a hardfork?
A hard fork allows for a wider set of possible blocks to be accepted by the network, so if you wanted to increase the block size of each block to allow more transactions per mined block, a hard fork would be the only option.
3. What are some of the risks with performing a hardfork?
A hard fork will create a blockchain that will run seperately from the previous one if any miners decide to remain with either chain. This can split the mining community and reduce the hashpower for each chain in the process.
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A soft fork is a valid block made invalid, and a hard fork is an invalid block made valid.
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A change in the consensus.
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A hard fork will cause the chain to split, that means that the hash power will also split making it a security risk.
1 A soft fork makes previous blocks invalid. Going from greater to lesser.
A hard fork makes previous blocks valid. Going from lesser to greater.
2 Clear update, and democratic.
3 New coins and more vulnerable.
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A hard fork expands the networks consensus rules, creating a network split in the process; whereas a soft fork entails a contraction of the networks rule set following a majority ruling, and does not result in network divergence.
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Hard forks allow you do update a networks consensus mechanisms so that function can be improved/optimised/expanded or problems fixed. They hold the advantages that they propose clear changes, are clear procedurally (with participants able to choose between the two new chains), and are democratic.
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Hard forks do however propose some risks, such as security loss with hash power splitting, over representation in changes by participants with huge voting power, and the effect splits have on the community, all of which can result in a loss of faith in the network (especially if these forks are frequent).
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What is the difference between a softfork and a hardfork?
A hardfork makes previously illegal blocks legal (expansion of the rule set) and a softfork makes previously legal (contraction of the rule set). -
What are some of the reasons why you would do a hardfork?
An example could be wanting to make blocksize bigger. Usually there is a reason that would lead members of the community to propose a fork. -
What are some of the risks with performing a hardfork?
Hard forks can lead to a community split as 100% of miners need to agree on this expanding rule set to keep going as 1 chain, else a parallel block chain will be created (usually with a new name). This also means the hash power and therefore the blockchainâs security will be less.
- Hard forks make previously invalid blocks, valid. Soft forks makes previously valid blocks, invalid. A hard fork creates two chains that split with clear updates. Soft forks are meant to result in one, no chain split.
- When the network consensus is clear with valid updates for expansion in a democratic way.
- The block chain is split, the community is split, the hash is split and a new currency is created.
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What is the difference between a softfork and a hardfork?
- Hard forks make prior invalid blocks valid. They expand the rules.
- Requires every node to be updated
- Soft forks make prior valid blocks invalid. They constrain the rules
- Only requires a majority of nodes be updated as non updated nodes will eventually choose the longest POW chain.
- Hard forks make prior invalid blocks valid. They expand the rules.
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What are some of the reasons why you would do a hardfork?
- It is more Democratic. A miner can choose which protocol to mine.
- It is a clear change in the protocol and gives miners the opportunity to choose which protocol to support.
- To create a new coin.
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What are some of the risks with performing a hardfork?
- It can split the network making it less secure
- It can split the community causing infighting
- It can diminish miners trust in a project
1-A SF is an update that makes previously valid blocks invalid (ex. blocks were 1mB and now .5mB)
A HF is an update that makes priviously invalid blocks valid (ex. new rule blocks now <=2mB when previously <=1mB)
2-Reasons for hard fork:
-miners and developers have conflicting perspective on development
-to create an alternative cryptocurrency
-democratic update
-expand rule set (ie. allowing larger block size)
3-Risk of hard fork is splitting the chain,community, and hash power.
- A SOFT FORK - Will make previous valid blocks invalid and with a new set of rules will decrease the block size from 1mb to 0.5mb
A HARD FORK - Will make previously invalid blocks valid and through an expansion of rules through consensus will increase the block size from 1mb to 2mb.
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A clear update to change consensus rules.
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Splitting the chain and dividing the community, also a risk in security because we are changing the hash power and miners could eventually leave.
What is the difference between a softfork and a hardfork?
A hard fork is a software upgrade that introduces a new rule to the network that isnât compatible with the older software. As an example, ( A new rule that allows block size to be 2MB instead of 1MB would require a Hard Fork ).
Nodes that continue to run the old version of the software will see the new transaction as invalid. So, to switch over to the new chain and to continue to mine valid blocks, all of the nodes in the network need to upgrade to the new Rules. (Consensus)
A softfork, by contrast, is any change thatâs backward compatible. Say, instead of 1MB blocks, a new rule might only allow 500K blocks.
Non-upgraded nodes will still see the new transactions as valid ( 500K is less than or equal to 1MB in this example). However , if non-upgraded nodes continue to mine Blocks, the Blocks they mine will be rejected by the upgraded Nodes. This is why soft forks need a majority of hash power in the network.
What are some of the reasons why you would do a hardfork?
To introduce a new Protocol and it must diverge permanently from the current version of the Blockchain. A change in consensus Rules.
What are some of the risks with performing a hardfork?
The Problem comes when some sort of political impasse arises,(eg:BTC/BCH) and a portion of the community decides to stick by the old rules no matter what. This is where the community can split, resulting in a new Currency being created. This can also weaken the hash power of the original chain, depending of the % of the split, resulting in a possible security vulnerability.
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What is the difference between a softfork and a hardfork?
Softfork reduces block size contraction and smaller blocks are accepted by nodes that have not updated.
Hardfork increases block size expansion and splits chain, splitted chain will not coexist
What are some of the reasons why you would do a hardfork?
-To go through clear democratic update and give miners opportunity to choose which block to mine.
What are some of the risks with performing a hardfork?
-Hash power decreases with that security goes down.
-Splits coins community.
-Splits chain
A soft fork is where previously valid blocks are made invalid and a hard fork is where previously invalid blocks become valid.
It changes the consensus.
Everyone might not agree and it might split the community.
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hard forks make changes that will not work within the current rule set. The soft fork makes changes that can work within/inside the current rule set.
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For consensus reasons a hard fork would be applied for functionality.
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the network could split with the community not approving the changes.
- What is the difference between a softfork and a hardfork?
A softfork is a blockchain code update that implements contraction in consensus rules and by doing so, it makes previously valid blocks invalid while a hardfork is opposite, it is an update that implements expansion in consensus rules what makes previously invalid blocks valid.
- What are some of the reasons why you would do a hardfork?
The main reason for hard fork update is expansion of the rules in consensus protocol. Usually it is initiated by community members with an opinion that the old rules have become inefficient and need to be changed. If majority of community doesnât agree on new rules, supporters of new rules can split and create new chain. In that sense, hardforks are more democratic, because those who agree with the new rules can update their nodes and switch to new chain while those who donât can continue to run original consensus protocol.
- What are some of the risks with performing a hardfork?
When performing a hardfork you need to take into account a community sentiment. Hardfork splits hash power of original network in two parts and if majority of miners does not support your hardfork you will end up with a new chain that will have significantly less hash power and therefore will be so much less secure. Also there is a risk that your new chain will not be adopted by users and developers so you will end up exonerated by community or in other words you will create yet another shitcoin.
1. What is the difference between a softfork and a hardfork?
A hard fork is when an update is made to the protocol makes any previously invalid blocks, valid â basically expanding the rules to the protocol. A softfork is when an update is made to the protocol making any previously valid blocks, invalid â contracting the rules to the protocol.
2. What are some of the reasons why you would do a hardfork?
Participants in the network â by way of chatrooms/discussion groups â may form opposing views as to the development or future of the inbuilt consensus mechanisms. To create a new set of wider consensus rules and hardfork would give all participants in the network a democratic choice: being to follow those new consensus rules or not. This type of fork could lead to a new cryptocurrency being created.
Fixing bugs within the system as well as essential updates could be other reasons.
3. What are some of the risks with performing a hardfork?
Splitting the original chain and the original community is a risk of performing a hardfork. Splitting the number of validators in the network would therefore decrease the security of both of the new chains.
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The difference between a softfork and a hardfork is that a hardfork expands the rule set such that previously invalid blocks are made valid, while a soft fork contracts the rule set such that previously invalid blocks are made valid.
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Some of the reasons why you would do a hardfork include that you want to change the consensus rules and that you want to make the network function more efficiently.
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Some of the risks with performing a hardfork include that the community is split, and that hash power is reduced making the network less secure.