Author: joe2015 at openmailbox.org 2015-12-20 17:21:22
Published on: 2015-12-20T17:21:22+00:00
On December 20th, 2015, Tier Nolan proposed an alternative to hard forks in the Bitcoin community. Hard forks are considered a "nuclear option" that carry significant risks such as permanently splitting Bitcoin into two chains if global consensus is never reached. Nolan suggested a (generalized) soft fork that could avoid these problems by adding the hash of an extended block into the coinbase without requiring it to be the only transaction. This proposal was viewed as a more complex solution than others and would require users to move coins between different tiers of blocks. Overall, Nolan's proposal aimed to maintain the functionality of Bitcoin with a larger limit without the risk of permanently splitting the community through a hard fork. The proposal was well-received but faced criticism for its complexity compared to other proposals.
Updated on: 2023-06-11T02:38:40.175876+00:00