Published on: 2021-04-05T22:36:48+00:00
On April 1, 2021, Michael Folkson proposed a comprehensive standard for soft fork activation in an email to the bitcoin-dev mailing list. This new standard aims to incorporate all the recent proposals into one multi-phase, multi-year plan. The proposal consists of 14 phases that must be successfully passed before a soft fork can activate.The first phase, called "Let's See What Happens - BIP 8," is the shortest and serves as an initial test. The subsequent phases include important concepts such as "Start now, improve later," "BIP 9 equivalent," "Gently discourage apathy," "BIP 91," "BIP 148," "Speedy Trial on mainnet and signet," "Modern Soft Fork Activation," "UASF BIP 8," and "Second flag day. "The most complex and longest phase is Phase 12, known as "Modern Soft Fork Activation." This phase itself is multi-phase and multi-year, highlighting the meticulous nature of the proposed standard. According to Folkson, if a soft fork fails at any point during activation, it must start again from Phase 1.Folkson emphasizes the need for conservatism in the activation process, demonstrating Bitcoin's cautious approach. He expects that this rigorous standard will eventually receive a BIP number. However, the proposed standard comes with a significant time commitment. Assuming successful passage through all 14 phases, a soft fork would still take a minimum of 13 years to activate.Furthermore, it is important to note that the proposed standard is copyrighted. Therefore, anyone utilizing this standard for future soft forks would be required to pay royalties into a quantum secure Bitcoin vanity address.In conclusion, the proposal put forth by Michael Folkson introduces a new standard for soft fork activation. This standard incorporates various concepts and proposals into a comprehensive multi-phase, multi-year plan. The proposed standard aims to demonstrate Bitcoin's conservative nature and requires successful passage through all 14 phases before activation. However, the time commitment is substantial, with a minimum of 13 years needed for activation. Additionally, the standard is copyrighted, necessitating royalty payments into a quantum secure Bitcoin vanity address.
Updated on: 2023-08-02T03:31:40.538437+00:00