Author: Matt Corallo 2021-02-28 20:25:15
Published on: 2021-02-28T20:25:15+00:00
Bitcoin is a decentralized system that operates without the need for identity or centralized control. Miners have the power to enforce censorship based on their capital invested. The activation process for Taproot, a proposed upgrade to the Bitcoin network, continues to be debated. Some argue for mandatory signaling, while others advocate for using BIP-8 to enable early activation.There are concerns about a cooptable consensus process and the potential for clients not being fully compatible with an early activation proposed before the flag day is reached. Additionally, there are concerns about releasing a flag day without releasing the LOT=true code leading up to that flag day. Despite some contention around LOT, a flag day may not be a bad option for future forks as well.It is suggested that LOT=true is the best option at this time for those who desire early activation. Ultimately, it was concluded that having a flag day would be simpler and more likely to be universally understood by all network participants. Jeremy raised concerns about miners generating invalid blocks as a result of SPV mining, leading to some nasty oscillating hashrate being optimal. Matt Corallo highlighted how mandatory signaling isn't just a flag day, but it results in any miner who has not taken active action generating invalid blocks. While the debate continues, it is important to note that LOT=true for Taproot should not set a precedent for any future forks.
Updated on: 2023-05-21T01:24:06.640932+00:00