Author: Pieter Wuille 2014-04-01 20:53:37
Published on: 2014-04-01T20:53:37+00:00
On April 1, 2014, a discussion about a bug in Bitcoin's network was had via email between developers. The bug could cause an economic shock if not addressed properly. A solution proposed by Peter Todd involved implementing the OP_CHECKLOCKTIMEVERIFY opcode in a soft-fork, followed by another soft-fork requiring miners to "pay-forward" a percentage of their coinbase outputs to the future. He suggested a linear distribution for this payment. However, some developers suggested that this change be saved for a future hard fork. Despite objections, Pieter Wuille requested a BIP number for the proposal due to the urgency of the matter and the risk of forks within 250 years.
Updated on: 2023-05-19T18:30:31.328241+00:00