Homework on Soft and Hard Forks - Questions

Homework on Soft and Hard Forks - Questions

  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?

  • What is the difference between a softfork and a hardfork?
    softfork where previously valid blocks are made invalid whiltst a hardfork is where previously invlaid blocks become invalid in the expansion. e.g. BTC -> BCH
  • What are some of the reasons why you would do a hardfork?
    clear and democratic
  • What are some of the risks with performing a hardfork?
    hash power split & with split communities.
  1. Hark forks make changes that don’t work within the current rule set. Soft forks make changes that can work inside current rule set.

  2. Add functionality to network that can’t be done inside the current spec.

  3. The network could split with the community not agreeing on the changes.

  1. A hard fork update is an expansion of the rule set and 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. The risk would be split hash power and a less secure network and a split chain.
  1. Soft fork makes previously valid blocks invalid and hard fork makes invalid blocks valid.
  2. A change in concensus.
  3. During a hard fork the hash power splits into two chains, lowering security.
  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?
    A change in vision and consensus.

  3. What are some of the risks with performing a hardfork?
    Bad for the security, the hashpower have to divide over two chains.

  1. Softwork makes invalid blocks valid and hard fork makes valid block invalid.
  2. A change in consensus rules
  3. It will split community and creates new currency. Will reduce security as hash power is split across.
  1. A soft fork makes a previously valid block invalid, while a hard fork makes a previously invalid bock valid.

  2. If you are expending the ruleset for block creation in the network

  3. The could split the community and create a new currency.

  1. What is the difference between a softfork and a hardfork?

Softfork: update that makes previous valid blocks invalid

Hardfork: update that makes previous invalid blocks valid.

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

When Consensus rules change.

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

Hashpower of the whole network would decrease, meaning the security reduces.

  1. What is the difference between a softfork and a hardfork?

Hardfork for bigger blocks (going from 1mb to 2mb), softfork for smaller blocks (going from 1mb to 0.5mb). Softforks will keep the community and coin as 1. Hardforks can result in a split community and forked (new) coin. So one coin splits into 2 (or even more) other projects/coins.

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

see above

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

see above

  1. A softfork is a fork that makes previously valid blocks invalid, and a hardfork makes previously invalid blocks valid.

  2. A hardfork can expand the rules of the network. The changes that come with a hardfork make any following transactions incompatible with the network rules that were in place before the update. These new transactions function on a separate chain, so participants can use a hardfork to pursue their own version of truth on their own separated blockchain. In other words, you can create a new coin by hardforking. Performing a hardfork can also take away hash power away from the original chain.

  3. You risk a loss of hash power from the original chain which reduces security. It can split the community and lead to a lot of infighting. There could be unforeseen vulnerabilities on a new chain with significantly less hash power than the original chain.

1. What is the difference between a softfork and a hardfork?
A softfork causes a change that is compatible with the previous state of the chain. A hardfork is not compatible with the previous state of the chain so you will be on another chain (other rules) if you do not apply the change.

2. What are some of the reasons why you would do a hardfork?
To force a change of the network to everyone (other rules)

3. What are some of the risks with performing a hardfork?
A chainsplit (also community split)

  1. Softfork makes previously valid fork in valid and hardfork does the opposite.

  2. It splits the hash power which reduces the security of the network, it requires convinving all the miners to update and it splits the commmunity and also the chain

  3. The risk is that it reduces the security of the network because of reduction in hash power caused by splitting of the network

  1. The difference between a softfork and a hard fork is a hard fork is an update that makes previously invalid blocks valid while a softwork does the opposite.

  2. Some of the reasons why you would do a hard fork are for clear, democratic updates and new currencies.

  3. Some of the risks with performing a hardfork are because of the community being split that will result in the hash power as well being split.

  1. A softfork makes valid blocks invalid and hardforks makes invalid blocks valid.

  2. To expand the rules of the blockchain.

  3. Community split, hash power split.

  • What is the difference between a softfork and a hardfork?
    softfork- previously valid blocks becomes invalid, hardfork- previously valid blocks becomes invalid .

  • What are some of the reasons why you would do a hardfork?
    A need to change the valid code.

  • What are some of the risks with performing a hardfork?
    Split chain, split community, split hash power

  1. A Soft fork makes previously valid blocks invalid and need not require everyone to update. Whereas a Hard fork makes previously invalid blocks valid and need everyone to update the software or there will be Chain splits.
  2. Hardfork may be required to improve the scalability of the chain by increasing the block size or implementing new types of Scripts or formats which are not supported on previous chain.
  3. As hard fork requires everyone to update, it may create a chain split if everyone doesn’t update and may reduce the number of nodes as people will lose trust over the security of the blockchain.

Homework on Soft and Hard Forks - Questions

  1. What is the difference between a softfork and a hardfork?

Hard fork splits the chain and community, it expands the consensus, but can also decrease hash power of the network. It also requires 100% nodes to update to avoid fork.

Soft fork doesn’t split the network, it narrows the consensus, but it can be confusing for nodes that haven’t updated. It requires >50% nodes to update to avoid fork.

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

Add some expansion to the consensus, different point of view in terms of developing the network.

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

It reduces hash power, split community and can weaken the currency.

  1. What is the difference between a softfork and a hardfork?
    A hardfork in expansive in tat it will make those blocks that were previously invalid , whereas a soffork has the opposite effect in making some blocks that were valid invalid
  2. What are some of the reasons why you would do a hardfork? To change the consensus protocol to expand the the network or to create a revised currency with different aspects to it.
  3. What are some of the risks with performing a hardfork? A hardfork will split the blockchain and in turn reduce the harsh rate as a number of nodes will now be mining on a different protocol that has the new consensus.