Published on: 2015-12-08T22:27:48+00:00
In the world of Bitcoin, transactions are received and broadcasted by nodes rather than wallets. While all wallets were initially nodes, most wallets nowadays are standalone without any specific node. In a discussion among Bitcoin developers, it was proposed that wallet developers indicate their readiness for soft forks, hard forks, or new features instead of implementing them directly. This would involve testing and validating these changes to ensure they do not break the nodes or wallet software.Chris Priest suggested splitting the version field into two parts: the first four bytes for the version number and the second four bits for transaction type. This would allow for assigning a new "type" number to any new transaction feature, which can only be implemented once the nodes support it. Vincent Truong further proposed extending/copying isSupermajority() to include a similar BIP 9 style version bit in transactions. If a majority of transactions have been sent and flagged as ready, it would indicate their readiness for implementation.The discussion highlighted that while the BIP9 mechanism applies to voting on blocks, it may not necessarily apply to transactions since they typically affect at most two parties. The flexibility of soft forks allows wallets to choose whether or not to implement new features. The proposal to split the version field and introduce a new "type" number aims to ensure readiness for change and prevent the introduction of security flaws. However, it was acknowledged that this approach could be computationally expensive for Bitcoin Core to run, suggesting that enthusiasts outside the network could monitor transactions instead.In conclusion, the discussion focused on finding ways to make the implementation of new features politically correct while ensuring readiness for change. The proposal to split the version field and incorporate a signaling mechanism through transactions aims to involve wallet developers, exchanges, and miners in the readiness process. Trust is required for miners not to jump the gun, but this approach aims to provide a fair and inclusive way for stakeholders to participate in the decision-making process.
Updated on: 2023-08-01T17:05:19.632920+00:00