STEEMIT CRYPTO Academy, Beginners'Level Season 3| Week 4 Blockchain Forks.

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1.What is a Fork? (In your own Words)

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A Fork refers to a change in the blockchain protocol .

That’s to say when their is a change in the a blockchain protocol , a fork is formed .

When the Blockchains are upgraded to be able to accommodate the growing human expectancies, these upgrades are in form of a fork since there will be change in the blockchain protocol.
The code of the fork on a blockchain is open-source to everyone therefore it can occur anywhere at any time.

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2.Explain in details what a Hard Fork is with examples (Can be of any blockchain).

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First and foremost hard forks are decentralized Blockchains. When a blockchain breaks into two different chains, it forms a fork known as the hard fork.

A hard fork refers to the breaking of a blockchain into two different chains.
In the hard forks, the nodes that update to the new protocol consider blocks from the previous chain as invalid, and also the old nodes consider new blocks as invalid.
The hard forks are about upgrading the blockchain therefore users' software should always be upgraded to take part in the hard forks blockchain.
In hard forks, the new blockchain breaks or splits from the old blockchain meaning that two blocks are being formed after the blockchain has split that’s to say that there will be a new blockchain and an old blockchain both having their software change in the blockchain protocol.

  • One of the examples of the hard fork is the Bitcoin cash. This cash split from its original bitcoin blockchain having its currency known as BCH
    The nodes that accepted the new protocol in the blockchain upgraded to Bitcoin cash.
    The nodes couldn’t validate Bitcoin transactions because they didn’t recognize the blockchain rules.

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  1. Explain in detail what a Soft Fork is with examples (Can be of any blockchain).

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* A soft fork is a fork that upgrades from the old blockchain without splitting it into a new blockchain.

Examples of a soft fork include:

A user-activated soft fork(UASF) It’s a user-driven activity that changes the use of cryptocurrency in a way that does not split the network.

In a soft fork, there is no need for the nodes to upgrade to the new protocol network unlike a hard fork that requires upgrades for the new protocol to operate on the network

Another example of a soft fork is the segregated witness which was put into practice in 2017 which helped in reducing the size of a bitcoin transaction by changing the format of the transactions which increased the number of transactions a block can contain .

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  1. What are the differences between Hard Forks and soft forks
Hard forksSoft forks
creates new projectsimproves on the already existing projects
involves splitting from the old blockchain to the new blockchaindoes not involve any splitting from the old blockchain
requires separation from the original blockchain forming a new blockthere is no separation of the original block hence it remains the same.
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is backward incompatibleis backward compatible.
their is new currency createdtheir is no new currency created.
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there is a complete split of the blockchainthere is no complete split of the blocks because the block remains the same

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  1. Explain the following Bitcoin Forks and explore the blockchain where necessary. Indicate if they are hard forks or soft forks;

Bitcoin Cash

* Bitcoin cash is a hard fork. Bitcoin cash enhanced the speed of transactions in the bitcoin network system because the number of Bitcoin users was boosting day by day in large numbers. The bitcoin cash solved the problem of the increasing number of users by speeding up the bitcoin cash transactions.

Differences between bitcoin cash and bitcoin

Bitcoin cashBitcoin
The bitcoin cash transactions are very cheaper for participants to operate in the systemBitcoin transactions are expensive for the participants.
The Bitcoin cash is efficientthe bitcoin is inefficient
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is very fast in making transactions hence taking less time for transactions to occuris very slow in performing transactions hence taking a long time or process for transactions to take place.
is less known by people in the worldis very popular in the world.
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transaction charges are very lowtransactions charges are very high.

Segregated Witnesses

  • Segregated witness was put in action in 2017 to decrease the size of bitcoin transactions by changing their format.
    Segregated witness is also referred to as the Segwit. The segregated witness is a soft fork in bitcoin because it decreases the size of bitcoin transactions. The segregated witness in their blockchain, the network is very fast and reduced the size of transactions through the help of signatures which act as the transactions witness.
    That's to say, peace will send money to Doreen but before the money reaches Doreen who is the receiver, it will pass through a transaction that requires a signature which will show that the transaction was witnessed.

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6.Write on the Steem and Hive Hard fork and show similarities in their Genesis Blocks(Provide screenshots).

*steemit is a very beneficial social media platform rewarding its users in various countries such as Uganda, Nigeria, and many other countries that participate in the various contests on the platform. The platform rewards its users who are continuously posting original content on the platform and engaging themselves in reading other people's articles and also commenting on them. Steemit platform doesn't tolerate plagiarism because it's a platform that's only requires original content from its participants therefore those who follow the rules of the platform and abide by the rules benefit a lot from the platform. The Steemit rewards its users with Steem Power, Steem, and SBD which is also known as the Steem Backed Dollars.

Hive is just like Steem, Hive is a decentralized network system.
The hive blog has currencies such as HBD also known as the Hive Backed Dollars, Hive, Hive power, and the hive platform uses these currencies to award its participants just like Steemit. Therefore hive is a hard fork of Steemit.

  • The similarities between the hive and Steemit platform are as follows

  • Both reward their participants.

  • Both have the same introduction page immediately when you open them.

  • Both have witness signatures.

  • Both have the same posting key.

  • Both have the same signing key.

  • Both have the same block ID.

The Genesis Block of steem

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The Genesis Block of hive

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In conclusion, The Genesis Block of hive and steemit is the same with the same features

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Hello @peace127,
Thank you for taking interest in this class. Your grades are as follows:

CriteriaCalculation
Presentation/Use of Markdowns1/2
Compliance with Topic1/2
Quality of Analysis0.5/2
Clarity of Language0.8/2
Originality1/2
Total4.3/10


The following caught my attention:

hard forks are decentralized Blockchains

They are not blockchains but happen on blockchains.


Feedback and Suggestions
  • Try to avoid repetitions when you write.

  • You need to understand any topic properly before attempting the tasks given. It would help in your expression.

  • There are a lot of missing info in your work.

  • The similarities you mentioned between Steem and Hive were not correct.



Thanks again as we anticipate your participation in the next class.

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