Crypto Academy / Season 3 / Week 4 - Homework Post for Professor [@awesononso] | Blockchain Forks
Hello Steemian
Previously I've studied about Blockchain Forks from professor @awesononso and on this occasion, I will answer questions from the assignment that has been given by professor @awesononso. May be useful.
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmT2Zm2NK5qErFkRuDt9AYXsddWGFizhmFN3fZMCF3zfHy/Cover-01.png)
source edited with Adobe Illustrator CC 2017
1).What is a Fork? (In your own Words)
At first, I didn't know what a ”fork” was in the world of cryptocurrencies and blockchain, if interpreted in everyday language fork was an eating utensil other than a spoon. After studying more deeply I finally can clearly understand what a fork is in the blockchain world.
source
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmU5WVbjPhdVqCejgqYiRHSf47ekwCbYY4fpG2za29RmuD/2.png)
Blockchain fork source
There are two types of Fork in the blockchain, both of which have their own functions and ways of working. The forks are Soft Fork and also Hard fork.
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVGqyu1Hv7WdTvbeVSWhuJQFAhAeLhGfAxt7VGEWFfBhA/header.png)
2). Explain in details what a Hard Fork is with examples (Can be of any blockchain).
source
Hard fork is a condition when the development team of a crypto agrees to apply a feature or update to the coin's programming system. Usually, this is done to secure the crypto network or adapt to the growing and growing number of coin users. This usually happens when there are changes that go against the old protocol. If the planned changes are significant, an updated version of the technology will be created. This new version may not be compatible with the old version. If the development team finds this change controversial, the new version will fork from the main branch (old version) and operate with new rules (new version). As happened with Bitcoin and Bitcoin Cash, there have also been other forks.
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmWAHsDvGLZ9TacnwLEaA91srm33d2PKpAAwkeRjvgfTSP/ethereum-network-vector.png)
Ethereum network source
Hard Fork Ethereum Constantinople
On January 16, 2019, one of the largest cryptocurrencies after Bitcoin, Ethereum (ETH) is planning to do a Hard Fork on their system. This exciting hard fork is an important step in Ethereum's roadmap to version 2.0, where the Ethereum protocol from Proof-of-Work (PoW) will gradually transition to Proof-of-Stake (PoS). Hard Fork Constantinople will implement five Ethereum Improvement Proposals (EIPs).
Ethereum Constantinople source
Blockchain Hard Fork source
Constantinople hard fork and EIP 1234 in particular are exciting developments for the Ethereum (ETH) cryptocurrency. The decline in block rewards in Byzantium came at a time when the world of blockchain and cryptocurrencies was still an unfamiliar term. Now, the blockchain and crypto industry is developing into a global phenomenon, so the Constantinople Hard Fork has the potential to be a milestone in Ethereum development journey.
3). Explain in details what a Soft Fork is with examples (Can be of any blockchain).
Soft Fork itself has a different character from Hard Fork, soft fork can still operate in the old version while the hard fork updates with very different system updates that cannot relate the new version to the previous version. The Soft Fork will only provide minor changes to the blockchain network, an overview of the update of the soft fork for example, if a protocol is changed by way of tightened rules, executes a change or adds a function that does not affect any construction, so then the latest version of the block will be accepted with an old version of nodes.
Soft Fork source
Soft Fork Taproot Bitcoin
Taproot is a Soft Fork or update that can improve Bitcoin scripts to increase privacy levels and fix other factors associated with complex Bitcoin transactions. Transactions on the Bitcoin network can use various features that make it more complex, such as releasing time locks, multi signature requirements, and more.
Taproot Bitcoin illustration source
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVGqyu1Hv7WdTvbeVSWhuJQFAhAeLhGfAxt7VGEWFfBhA/header.png)
4). What are the differences between Hard Forks and Soft Forks ?
Hard fork vs Soft Fork source
If the changes that occur in the soft fork produce two codes that are the same and can be related to each other, on the other hand, changes that occur in the hard fork produce two different codes and cannot be related to each other.
Soft Fork | Hard Fork |
---|---|
Soft Fok are considered as less troublesome | Hard Fork are considered very troublesome. |
Minor software updates, compatible with the older version | Software updates incompatible with the older version |
Only the miner’s functionality is getting affected if not upgraded | If miner does not upgrade they would no longer be able to participate and validate the new transaction |
Soft Fork examples are block limit and BIP 66 | Hard fork examples are Bitcoin Cash and Ethereum Classic |
5). Explain the following Bitcoin Forks and explore the blockchain where necessary. Indicate if they are hard forks or soft forks
Bitcoin Cash (Hard Fork)
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmTG5wibaCACWHGZjXpE9zr9j3ZbT565xE3d8h3jhUfgyD/Business_2020_2_Epayment_01.jpg)
source
Bitcoin Cash (BCH) on Coinmarketcap source
Segregated Witnesses (Soft Fork)
Segregated Witnesses (SegWit) logo source
At this stage of Bitcoin (BTC) development, the Bitcoin developer community, users, companies, and the mining community needs to encourage the activation of safer alternatives. Given the lack of peer reviews and the Bitcoin Unlimited software being not ready to use, SegWit seems to be the best alternative so far. Therefore, Bitcoin is only capable of processing 7 to 10 transactions/sec at the base layer. The existence of SegWit makes the Bitcoin network capable of processing millions of transactions per second. So that it can be a safer and faster payment solution.
6). Write on the Steem and Hive Hard fork and show similarities in their Genesis Blocks (Provide screenshots)
I have known steemit since mid-2017 and a few years after that a platform called Hive appeared and attracted the attention of many people, at first I didn't really understand why hive was similar to steemit (almost exactly the same). I don't really know about the hard fork that occurred between the two platforms, whether there is an internal conflict in steemit or something else that caused the hard fork to occur.
Steemit logo source and Hive logo source
Steem wallet source
The Hive platform also has several features such as Hive Power (HP), Hive Dollars (HBD), and Hive coin.
Hive Wallet source
Steem Genesis Block
- Go to steemworld.org and click menu Block Explorer
website steemworld.org source - Press numpad 1 on Block Number
website steemworld.org source - information about Block 1 will appear from the Steem Block Explorer. Some of the information that can be seen include:
- Time Stamp
- Block ID
- Signing Key
- Witness and
- Witness Signature
Steem block 1 explorer on steemworld.org source
Hive Genesis Block
- Go to hiveblocks.com
Hive Blocks source - Press numpad 1 on search tool
Hive Genenis Block 1 Explorer source - information about Block 1 will appear from the Hive Genenis Block 1 Explorer. Some of the information that can be seen include:
- Time Stamp
- Block ID
- Signing Key
- Witness and
- Witness Signature
Hive Genenis Block 1 Explorer source
Similarities in Steem and Hive Genesis Blocks
Steem
Steem block 1 explorer on steemworld.org source
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVGqyu1Hv7WdTvbeVSWhuJQFAhAeLhGfAxt7VGEWFfBhA/header.png)
Hive
Hive Genenis Block 1 Explorer source
Conclusion
Soft fork and Hard Fork are changes or updates that will occur in the world of blockchain and cryptocurrencies, however, these changes will certainly have an impact, including that both blockchain networks will still be used by users but there will be a blockchain network that is more dominant than the other blockchain network.
Hello @chairulrizalx
Thank you for taking interest in this class. Your grades are as follows:
Feedback and Suggestions
You have demonstrated a good level of knowledge on the topic.
You have done well to indicate other similarities between the Steem and Hive Genesis blocks.
When researching, always make sure that your research points are up to date. Also try to understand them before you write so that your expression would be better.
Thanks again as we anticipate your participation in the next class.
thank you professor @awesononso