Published on: 2015-08-08T19:18:54+00:00
The author of an email suggests that the current version selection for transactions is not optimal and proposes a solution to improve it. Currently, the selection does not allow for the selective application of new consensus rules. The author's proposal is to divide the transaction version field into two parts: the higher four bits and the lower 28 bits.By dividing the transaction version field, the higher four bits would indicate which Bitcoin Improvement Proposals (BIPs) are active, while the lower 28 bits would allow for 28 independent BIPs. This would make it easier to repurpose nSequence or take advantage of malleability in the future.The author also highlights issues with certain current BIPs, such as BIP62 and BIP68, when introducing a new script system with a soft fork. These BIPs have specific rules that are applied based on the transaction version. BIP68 is activated if the highest bits of a transaction are 0000, and the third lowest bit is 1. Meanwhile, BIP62 is active if the highest bits are 0000, and the second lowest bit is 1.To address these issues, the author suggests that BIP62 and BIP68 should become mandatory for all transactions with a version number greater than or equal to 4. By adopting this change, the nSequence high bit requirement in BIP68 could be easily switched off if needed.Furthermore, by dividing the transaction version field, the low bits would allow for 28 independent BIPs, which should be sufficient for many years. Once these BIPs are exhausted, the high bits can be switched to a different number between 1-15, allowing for the redefinition of the meaning of the low bits. It is important to note that these changes may also apply to other draft BIPs with similar interpretations of the transaction version field.In conclusion, the author suggests dividing the transaction version field into two parts to improve the selection of consensus rules. This solution would address issues with certain BIPs and provide flexibility for future development.
Updated on: 2023-08-01T15:04:39.237538+00:00