Author: Vincent Truong 2015-12-08 12:27:27
Published on: 2015-12-08T12:27:27+00:00
The author of this post is discussing the use of a signal for readiness in Bitcoin soft and hard forks. They explain that while the announcement in blocks is not technically a vote, it serves as a signal for readiness which can be used to determine if a certain percentage of blocks have been flagged with the version up to signal their readiness; failure to do so could be seen as a vote against implementation. The author suggests extending/copying isSupermajority() to also look for a similar BIP 9 style version bit in transactions to make sure wallets and exchanges are ready for changes. The author argues that it is unfair to wallet developers and exchanges that they are unable to signal if they too are ready for a change, especially given the increasing number of users using SPV or SPV-like wallets. They suggest using three bits for versioning and 29 bits for flags to index every transaction, which may be computationally expensive for Bitcoin Core to run but can be watched outside the network. This approach would allow wallet developers and exchanges to be involved, and miners can watch for readiness flagged by wallets before they themselves flag ready. The author acknowledges that trust is required for miners not to jump the gun, but believes this is a politically correct way to involve stakeholders in the process.
Updated on: 2023-06-11T01:51:59.408185+00:00