Author: Michael Gronager 2014-02-20 10:59:22
Published on: 2014-02-20T10:59:22+00:00
The proposed BIP is aimed at ensuring that a subclass of version 1 transactions become unmalleable, specifically those with sighash=all. This is to make spending unconfirmed outputs in a deterministic way safe from third-party intervention and sabotage, which is not currently the case. However, consensus rules for version 1 transactions cannot be changed as this may invalidate unpublished non-standard transactions, so only the relay rules can be changed to provide some guarantee. A realistic timeline for enforced version 3 transactions is estimated to be around one year. The change is intended to provide non-malleability guarantees for clients that are upgraded and willing to restrict functionality, rather than outlawing malleability altogether. New transaction and block versions allow for implementing and automatically scheduling a soft fork without waiting for wallets to upgrade.
Updated on: 2023-06-08T02:42:04.964806+00:00