Author: Matt Corallo 2021-02-18 15:01:09
Published on: 2021-02-18T15:01:09+00:00
The Bitcoin-dev mailing list is currently discussing the activation of Taproot, a consensus change that would benefit the Bitcoin ecosystem. However, there are concerns about the possibility of chain splits and double-spending, resulting in millions of dollars lost by exchanges. Matt Corallo emphasizes the importance of minimizing risks before activating any change.During the discussion, Michael Folkson suggested setting LOT=false on Bitcoin Core to minimize the risk. ZmnSCPxj proposed having a release that requires a taprootlot parameter to be set, which assures everyone that neither choice is being forced on users. However, ZmnSCPxj disagreed with Michael Folkson's suggestion, stating that it is up to users to make that choice themselves.The debate over the Taproot activation mechanism continues, with some arguing for LOT=true and others advocating for LOT=false. During a recent meeting on Bitcoin's Taproot activation, agreement was reached on all aspects except LockinOnTimeout (LOT). The proposed Activation height range is between 693504-745920, with MASF threshold of 1815/2016 blocks (90%).However, due to only around 100 people being present at the meetings, concerns were raised about the proposal representing the entire community. It was acknowledged that there is unlikely to be consensus on LOT with individuals having to make their own choices.A code review of the Bitcoin Core PR #19573 originally delayed by Lot discussion is scheduled for Tuesday February 23rd at 19:00 UTC on the IRC channel ##taproot-activation. The participants concluded that preparing for bad or worst-case scenarios in advance is not antagonistic or destructive, and doing so helps build a better system.
Updated on: 2023-05-21T01:02:30.566409+00:00