Author: Ben Woosley 2021-04-01 18:05:28
Published on: 2021-04-01T18:05:28+00:00
On April 1, 2021, Michael Folkson proposed a new standard for soft fork activation that incorporates all the important ideas into one standard. The standard is a multi-phase, multi-year plan consisting of 14 phases that must be passed through successfully before any soft fork can activate. Phase 1 is the shortest phase and is called "Let's See What Happens - BIP 8." The longest phase is Phase 12, called "Modern Soft Fork Activation," which is itself multi-phase and multi-year. If a soft fork activation cannot pass successfully through all 14 phases, it should not activate. The activation design must be conservative, according to Folkson. He expects that this rigorous standard for soft fork activation will get a BIP number. Assuming a soft fork activation has successfully passed through all the 14 phases, it should activate. However, it will take a minimum of 13 years. If it fails during any one of these phases, it has to start from Phase 1 again. Although all future soft forks will ultimately use this standard, it is copyrighted, and royalties must be paid into a quantum secure Bitcoin vanity address every time it is used.
Updated on: 2023-06-14T19:53:49.926131+00:00