Author: David A. Harding 2022-04-21 22:28:17
Published on: 2022-04-21T22:28:17+00:00
In an email thread discussing covenant-related consensus changes to Bitcoin, various criteria were brought up by Matt Corallo in determining whether these changes should be made. The first criterion is demonstrated use cases and intent to use the change, which some argue exists for CTV, while others are unconvinced. The second criterion involves whether the proposed change aligns with Bitcoin's design and goals, which Corallo believes CTV fulfills. The third criterion considers whether technical experts believe the concrete proposal is the best design, but Corallo questions whether there can ever be a universal best. Corallo then discusses various covenant designs and their pros and cons, highlighting the trade-offs between on-chain efficiency and flexibility. He suggests starting with simple and general approaches and optimizing for demonstrated needs, but acknowledges that some people prefer application-optimized designs. Corallo concludes by mentioning the option of reverting to earlier consensus rules as a practical simplification, but emphasizes the need for agreement on when a particular covenant-related consensus change is warranted.
Updated on: 2023-06-15T19:09:42.884422+00:00