Author: Anthony Towns 2021-02-24 07:18:32
Published on: 2021-02-24T07:18:32+00:00
The Bitcoin development mailing list recently discussed the potential risks and implications of releasing a new Bitcoin Core software with the lockinontimeout (LOT) parameter set to true. This setting would cause 80% of nodes to stall, leading to concerns about lost transactions and the possibility of a longer-term fork in the network. The discussion focused on the relative importance of different factors in determining whether or not to activate the taproot update, such as the price of Bitcoin, hashpower, and the number of nodes supporting the update.The group acknowledged that economic incentives could drive miners to activate the update even if only a small number of nodes support it. However, there are concerns that some miners may choose to run the less safe parameter for short-term profit, despite the potential risks. In light of this, the article suggests that core developers should prioritize coding and testing over advocacy. Implementing safety features and working with miners to minimize disruption is seen as more effective than promoting a particular setting for the parameter.According to the article, the safer option is to release the software with LOT set to false and allow users to manually change it to true if they wish. This approach would reduce the risk of lost transactions and potential long-term forks that could lead to a loss of trust in the developers who proposed the update. The discussion also explored various scenarios in which the update might fail to activate and the potential consequences for the network.Overall, the article emphasizes caution and prioritizes technical considerations over emotional dynamics among developers. It argues that developers should focus on implementing safety features and working collaboratively with miners to ensure a smooth transition to the updated software.
Updated on: 2023-05-21T00:58:03.142786+00:00