Author: Matt Corallo 2021-02-19 23:30:47
Published on: 2021-02-19T23:30:47+00:00
The Taproot activation debate is ongoing in the Bitcoin world. The activation of Taproot seems to have widespread support, but the manner of activation is being debated. Matt Hill suggests that offering power on the left-hand side to miners and power on the right to users could be an incredible opportunity for the developer contingency to "take the high road" while also minimizing time to Taproot activation using political incentives. He proposes including a LOT=true option to Bitcoin Core that carries a default of LOT=false. Miners can activate at any time, and users can signal their intent to activate should miners renege.This expanded agency of full node operatorship may result in more users running a full node, which is good and healthy, according to Matt Hill. From a miner's point of view, more full nodes only increase the likelihood of future UASFs, so they are further incentivized to expedite Taproot activation. This proposal positions developers as neutral facilitators who deferred power to the other contingencies. Miners are incentivized to activate quickly to avoid being perceived as the "bad guys" and to avoid the spread of full nodes. Even if miners do not activate, users can organize a UASF in a grass-roots way. Matt Hill notes that there is no such thing as "All that must be done" here, supporting multiple, different, consensus rules for a given chain is a non-trivial undertaking in Bitcoin Core from a software perspective. The only practical way is to treat it as a different chain, which, in practice, it could be. One group running LOT=true and one running LOT=false results in two Bitcoins, and the software would need to be able to handle that and allow users to switch between chains.
Updated on: 2023-05-21T00:48:14.838968+00:00