What is a soft fork?

@roderick_marquardt 

A soft fork is a type of upgrade or change to a blockchain protocol that is backward-compatible with previous versions. In a soft fork, new rules and features are implemented that do not require all network participants to upgrade their software. This means that nodes running older versions of the software can still function within the network, although they may not be able to utilize the new rules and features.

Soft forks typically introduce changes that are restrictive and aim to tighten the consensus rules of the blockchain. They can include modifications such as altering the block size limit, changing the transaction format, or adding additional validation rules. As long as a majority of the network's hash power enforces the new rules, the soft fork can be successful in achieving the desired changes.

One characteristic of a soft fork is that it generally maintains compatibility with the existing blockchain, meaning that blocks created under the new rules are still considered valid by nodes running older software versions. However, blocks created using the older rules would be rejected by nodes running the updated software.

Soft forks are often implemented to improve security, scalability, or efficiency within a blockchain network. They are seen as a less disruptive method compared to hard forks, which require all network participants to upgrade their software as they introduce incompatible changes.

@roderick_marquardt 

In summary, a soft fork is a type of upgrade to a blockchain protocol that introduces new rules and features while remaining compatible with older versions of the software. It is backward-compatible and does not require all nodes to upgrade, but rather relies on majority consensus to enforce the new rules. Soft forks are often used to enhance security, scalability, or efficiency within a blockchain network.