Author: Tier Nolan 2015-06-26 00:07:48
Published on: 2015-06-26T00:07:48+00:00
Peter Todd, a co-author of the Version Bits BIP proposal, suggests that it is time to think about how CheckLockTimeVerify (CLTV) will be deployed as its benefits could help scalability solutions such as payment channels. While he is in favor of the Version Bits BIP proposal, he suggests that its implementation may be complex compared to previous soft-fork mechanisms. He proposes using the existing median block version mechanism previously used for the nVersion=2 and nVersion=3 soft-forks for CLTV. This mechanism is well-tested and understood and would allow CLTV to be easily backported to v0.10.x (even 0.9.x) with little risk for rapid deployment. In case another soft-fork is proposed prior to BIP65, enforcement, there is an option to set another soft-fork as the median mechanism only requires forks to be serialized in sequence - it does not prevent multiple soft-forks from being "in-flight" at the same time. The thresholds would be similar to those used in BIP66.
Updated on: 2023-06-10T01:03:35.105176+00:00