Author: Matt Corallo 2021-02-18 14:01:32
Published on: 2021-02-18T14:01:32+00:00
The Bitcoin community is currently discussing the activation of Taproot, a soft fork upgrade that will enhance transaction privacy and efficiency. However, the decision of whether to set the LockinOnTimeout (LOT) parameter to true or false is still under debate. This parameter determines how long miners have to signal their readiness before the upgrade activates automatically.While some argue that setting LOT to true would provide clarity and remove the need for coordinated UASF efforts, others fear that this approach could lead to Bitcoin falling out of consensus. Moreover, if different implementations ship with different consensus rules, it could further fragment the network and undermine its security.To avoid forcing users to choose between different consensus rules, ZmnSCPxj suggested a compromise solution: have a release that requires a `taprootlot=1` or `taprootlot=0` and refuses to start if the parameter is not set. The community agrees that Taproot should only be activated if there is broad consensus among Bitcoin users and miners.In a recent meeting about the activation of Taproot, there was disagreement over whether LOT (lockinontimeout) should be set to true or false. During the second meeting, both sides presented their strongest arguments, and there was still no overwhelming consensus for either LOT=true or LOT=false. However, from the perspective of Bitcoin Core contributors and Lightning developers who attended the meeting, there was more strong opposition against LOT=true than there was for LOT=false.Given this, Michael Folkson believes that proposing LOT=false is the best course of action at this time, as any further delay may be counterproductive in getting the Taproot soft fork activated as early as possible. However, he acknowledges that others may disagree with this assessment and that new information could change the situation.Next week, there will be a code review of the Bitcoin Core PR #19573, which was initially delayed because of the LOT discussion. The review will follow the format of the Bitcoin Core PR review club and will be more technical in nature.
Updated on: 2023-05-21T00:55:49.423131+00:00