Author: Roy Badami 2015-06-20 20:07:53
Published on: 2015-06-20T20:07:53+00:00
The writer expresses concern that not enough discussion has gone into deciding the appropriate supermajority threshold for Bitcoin, as opposed to the focus on block size. Gavin Andresen is proposing a 75% threshold, which the writer sees as problematic because it could lead to a situation where a majority of hashing power accepts a fork, but both a significant minority of hashrate and the economic majority reject it. This scenario could lead to two competing ecosystems claiming to be 'the real Bitcoin', causing an extended period of uncertainty that would be worse for Bitcoin than getting the blocksize wrong. Therefore, the writer believes it is necessary to design the hardfork mechanism to prevent such an outcome.
Updated on: 2023-06-10T00:05:03.344474+00:00