Published on: 2020-07-17T02:58:46+00:00
Bitcoin developers are currently discussing the best approach to activate soft forks in the future. Two proposals have emerged as plausible options. The first proposal is a recent update to BIP 8 by Luke, while the second proposal is based on a more complicated and slower method described by Matt earlier this year. The main difference between the two proposals lies in the time frame for users to upgrade if mandatory activation is desired without a supermajority of hashpower enforcing the rules. The BIP 8 approach offers a relatively short time frame, while the "decreasing threshold" approach provides a longer timeline. Developers have established several design constraints for the activation process. They aim for quick activation if everyone cooperates and there are no obvious exploits. Additionally, they want to have plausible contingency plans in place to discourage people from using the attempt to deploy a new soft fork as a way of attacking bitcoin. It is crucial for the developers to avoid shipping code that causes people to fall out of consensus in case things do not go smoothly. Currently, developers are leaning towards using BIP 8 with mandatory activation disabled in bitcoin core. However, they are prepared to update the BIP 8 parameters to allow mandatory activation in bitcoin core if there are no reasonable objections and strong support for activation after nine months. Furthermore, they plan to change the decreasing threshold proposal to be compatible with BIP 8 and maintain it as an extra contingency plan. In addition, developers will support miners coordinating via BIP 91 to bring activation forward or de-risk BIP 8 mandatory activation as an alternative contingency plan. The overall goal is to ensure a smooth activation of Taproot, although developers acknowledge that there is no guarantee of a seamless process. Therefore, starting with a simple approach and being ready to adapt if things start to go wrong is seen as a prudent strategy. Ultimately, coordination and communication among developers and stakeholders will be key to successfully activating Taproot.
Updated on: 2023-08-02T02:30:57.873452+00:00